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Colma sits in one of California's most expensive counties, where traditional lenders turn away thousands of qualified ITIN borrowers every year. Your tax ID gives you legitimate access to home financing through specialized non-QM lenders.
San Mateo County's immigrant communities include established business owners, professionals, and long-term renters who've built strong credit profiles. ITIN loans recognize income you're already reporting to the IRS, regardless of citizenship status.
ITIN Loans in Colma
You need a valid ITIN, 620+ credit score, and 15-20% down payment minimum. Most lenders want two years of tax returns showing consistent income, though some accept one year with compensating factors.
Bank statements work for self-employed borrowers who write off significant business expenses. Your debt-to-income ratio typically caps at 43-50%, stricter than conforming loans but manageable with solid income documentation.
Local decision guide
Use this guide to connect itin loans eligibility, lender expectations, and local market factors before comparing payment options in Colma.
Colma sits in one of California's most expensive counties, where traditional lenders turn away thousands of qualified ITIN borrowers every year. Your tax ID gives you legitimate access to home financing through specialized non-QM lenders.
San Mateo County's immigrant communities include established business owners, professionals, and long-term renters who've built strong credit profiles. ITIN loans recognize income you're already reporting to the IRS, regardless of citizenship status.
You need a valid ITIN, 620+ credit score, and 15-20% down payment minimum. Most lenders want two years of tax returns showing consistent income, though some accept one year with compensating factors.
Roughly 30 of our 200+ wholesale lenders offer ITIN programs, each with different credit overlays and documentation requirements. Rate spreads range from 0.50% to 2.00% above conforming loans depending on down payment and credit strength.
Portfolio lenders change guidelines monthly based on their risk appetite and secondary market conditions. We track which lenders loosened overlays recently and who's competitive on pricing this month specifically.
Colma's limited housing inventory means most ITIN borrowers compete for properties in Daly City, South San Francisco, or down into Pacifica. Sellers accept these offers when you show strong financials and larger earnest deposits.
The biggest mistake is waiting until you find a property to start documentation. Tax returns take weeks to obtain from IRS if you've lost copies, and credit issues need 90+ days to resolve before you can close competitively.
Foreign National Loans require 30-40% down but accept income outside the US without tax returns. Bank Statement Loans use 12-24 months of deposits instead of tax returns when you're self-employed with significant write-offs.
Asset Depletion Loans work for borrowers with substantial savings or investment accounts but inconsistent income documentation. Each program targets different financial profiles, and your situation determines which path gets you approved fastest.
San Mateo County's high property taxes and insurance costs affect your debt ratio calculations more than inland markets. A $700K purchase generates $700+ monthly in property tax alone, reducing how much home you can afford.
Colma borders San Francisco, giving you access to Peninsula job centers while keeping purchase prices slightly below SF proper. Lenders view the location favorably for employment stability and property value retention over time.
Yes, but you need tax returns showing net income or 12-24 months of business bank statements. Self-employed ITIN borrowers typically need 20% down and stronger credit to offset documentation complexity.
Rates vary by borrower profile and market conditions. Expect 0.50-2.00% above conventional rates depending on credit score, down payment size, and documentation strength.
Most ITIN programs require primary residence occupancy for one year minimum. Investment property financing with ITIN typically needs 25-30% down and exceptional credit above 700.
Figure 30-45 days with complete documentation ready upfront. Tax return verification through IRS and manual underwriting add time compared to automated conventional approvals.
Yes, rate-and-term refinances work through ITIN programs if you've made 12 months of on-time payments. Cash-out refinancing requires 20-25% remaining equity after the new loan funds.