Question 1

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

Accepted Answer

Yes, some lenders accept 15% down. Lower down payments mean higher rates and possible mortgage insurance. We find lenders with the best low-down options for Buellton properties.

Question 2

Do ITIN loans work on investment properties in Buellton?

Accepted Answer

They do, but you'll need 25-30% down and face higher rates. Primary residence loans get better pricing. Most lenders cap you at two financed properties total.

Question 3

What if my income is mostly cash tips from restaurant work?

Accepted Answer

You need to show that income on tax returns for two years. If tips aren't reported, consider a bank statement loan instead. We help structure applications for hospitality workers.

Question 4

How long does ITIN loan approval take in Santa Barbara County?

Accepted Answer

Expect 10-15 days for initial approval, then 45-60 days to close. Non-QM underwriting takes longer than conventional loans. Starting with clean documentation speeds the process.

Question 5

Will refinancing an ITIN loan to conventional be possible later?

Accepted Answer

Only if you obtain a Social Security number and meet conventional loan requirements. Most ITIN borrowers refinance to better ITIN loan terms as rates drop. Building equity helps lower your rate.

ITIN Loans in Buellton: Qualify Without a Social Security Number