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ITIN Loans in Colfax
Colfax sits in the Sierra Nevada foothills where inventory stays tight and cash moves fast. ITIN borrowers here compete with conventional buyers, so pre-approval matters.
Most properties in Placer County move quickly once priced right. ITIN loans take 30-45 days to close—longer than conventional but workable if you start early.
You need an ITIN, 12-24 months of bank statements, and 15-25% down. Credit scores start at 620, but 680+ gets better rates.
Employment verification comes through bank deposits or paystubs. We don't verify immigration status—this is strictly a financial transaction.
Most lenders want two years of steady income visible in your statements. Self-employed borrowers typically need 24 months of deposits.
Only about 30 of our 200+ wholesale lenders offer true ITIN programs. Each has different documentation requirements and rate structures.
Big banks don't touch these loans. You're working with regional lenders and non-QM specialists who price for the additional underwriting complexity.
Rate premiums run 0.75-2.00% above conventional. That spread tightens with larger down payments and higher credit scores.
Bank statements need to show consistent deposits—lenders look for income patterns, not one-time windfalls. Clean presentation matters.
I've closed ITIN loans in Colfax for restaurant workers, construction crews, and small business owners. The common thread: documented cash flow and stable employment.
Start gathering statements now. You'll need consecutive months with no gaps. Translated documents work if properly certified.
Foreign National Loans work if you live outside the US and want Colfax investment property. They require 30-40% down versus 15-25% for ITIN.
Bank Statement Loans serve US citizens with non-traditional income. ITIN loans serve non-citizens with tax identification numbers—different documentation, similar pricing.
Asset Depletion Loans let you qualify using retirement accounts. Only makes sense if your liquid assets exceed the purchase price significantly.
Colfax properties often need well or septic inspections. Budget extra time and money for those before closing—lenders require clear reports.
Placer County taxes run around 1.0-1.2% of assessed value. No Mello-Roos in older Colfax areas, but verify on newer subdivisions.
Fire insurance costs have jumped in foothill communities. Get quotes early—some carriers won't write new policies in high-risk zones.
Yes, you don't need a Social Security number. You'll need your ITIN, bank statements, and 15-25% down payment to qualify.
Rates run 0.75-2.00% above conventional loans. Your rate depends on credit score, down payment, and current market conditions.
Plan for 30-45 days from application to close. Gathering consecutive bank statements upfront speeds the process significantly.
No, immigration status isn't verified. Lenders only evaluate your financial ability to repay the loan.
Yes, but you'll need 24 months of bank statements showing consistent business deposits. Clean documentation is critical.
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.