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ITIN Loans in Nevada City
Nevada City's historic charm draws buyers from across borders, but many lack Social Security numbers. ITIN loans fill this gap for foreign nationals and non-residents who file US taxes.
Gold Country real estate moves slowly here—buyers have time to arrange non-QM financing. Properties range from downtown Victorians to foothill parcels, most priced where ITIN programs work.
You need a valid ITIN from the IRS and typically two years of filed tax returns. Most lenders want 15-25% down, higher than conventional loans.
Credit scores start around 680 for best rates. Lenders verify income through tax returns—no pay stubs required. Expect to show 6-12 months of reserves.
Most big banks don't offer ITIN loans. You're working with specialty non-QM lenders who price based on risk factors like down payment and credit depth.
Rates run 1-2% above conventional programs. Loan amounts cap around $3 million, plenty for Nevada County properties. Processing takes 30-45 days—plan accordingly.
ITIN borrowers often bring stronger financials than W-2 earners—they just lack SSNs. I see business owners and professionals purchasing second homes or investment properties here.
Bigger down payments offset rate premiums. On a $600K Nevada City home, putting 25% down versus 15% can drop your rate half a point. That's real savings over time.
Foreign National loans work if you live abroad—they require 30-40% down but accept foreign credit. Bank Statement loans fit self-employed ITIN holders without clean tax returns.
Asset Depletion makes sense when you have substantial accounts but limited reported income. Each program targets different borrower situations. ITIN loans balance documentation and down payment requirements.
Nevada City's $400K-$900K price range fits ITIN loan limits comfortably. Historic district properties need special inspections—factor extra time into escrow.
Winter weather delays appraisals in foothill areas. Fire insurance costs have doubled since 2020, affecting monthly payments. Budget $300-$500 monthly for adequate coverage in high-risk zones.
Yes, but you'll need alternative credit—rent payments, utility bills, or foreign credit reports. Expect higher rates and 20-25% down minimum without US credit.
Absolutely. ITIN loans fund primary homes, second homes, and investment properties. Primary residence purchases often get better rates than investment properties.
Two years of filed tax returns showing your ITIN. Lenders calculate income from your 1040s, not pay stubs. Self-employment income works fine.
Rates vary by borrower profile and market conditions. Currently 1-2 points above conventional rates, so roughly 8-9% with strong credit and 20% down.
Yes. Many borrowers refinance to conventional loans once they obtain SSNs and build US credit. You'll likely get better rates and drop mortgage insurance.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.