Question 1

Can I buy a home in Elk Grove with only an ITIN?

Accepted Answer

Yes. ITIN loans are designed for exactly this. You don't need an SSN to qualify — just a valid ITIN and solid tax history.

Question 2

What credit score do I need for an ITIN loan?

Accepted Answer

Most lenders want 620 or higher. A larger down payment can sometimes offset a lower score, depending on the lender.

Question 3

Do I need to be a permanent resident?

Accepted Answer

No. ITIN loans don't require permanent residency or a green card. Lenders care about income and repayment ability.

Question 4

How much down payment is required?

Accepted Answer

Expect 10-20% down. Some lenders go lower with strong compensating factors like high reserves or a long tax history.

Question 5

Are ITIN loan rates higher than conventional rates?

Accepted Answer

Yes, typically. ITIN loans are non-QM products, so rates run higher than conventional. Rates vary by borrower profile and market conditions.

Question 6

How long does it take to close an ITIN loan in Elk Grove?

Accepted Answer

Plan for 30-45 days. Lender review of ITIN documentation can add time — having complete docs upfront helps avoid delays.

ITIN Loans in Elk Grove, CA — No SSN Required