Question 1

Can I get an ITIN loan with less than 20% down in Millbrae?

Accepted Answer

Yes, some lenders accept 10-15% down with credit scores above 700. Rates increase and you'll need strong reserves, but it's possible for qualified borrowers.

Question 2

Do ITIN loans require proof of legal residency or immigration status?

Accepted Answer

No. Lenders verify income, assets, and creditworthiness. Immigration status doesn't affect approval—only your ability to repay the loan matters.

Question 3

How long does ITIN loan approval take compared to conventional loans?

Accepted Answer

Expect 30-45 days for underwriting versus 21-30 for conventional. Extra documentation review adds time, but experienced brokers streamline the process significantly.

Question 4

Can self-employed ITIN borrowers qualify if tax returns show low income?

Accepted Answer

Yes, through bank statement loans that use deposits instead of tax returns. We analyze 12-24 months of business account activity to calculate qualifying income.

Question 5

What interest rate should I expect on an ITIN loan in Millbrae?

Accepted Answer

Rates vary by borrower profile and market conditions. Expect 1-2% above conventional rates. Strong credit and larger down payments earn better pricing.

ITIN Loans in Millbrae: Finance Your Home Without a Social Security Number