Question 1

Can I buy a home in Santa Barbara with just an ITIN?

Accepted Answer

Yes. ITIN loans don't require a Social Security number. You'll need your ITIN, tax history, and proof of income to qualify.

Question 2

What credit score do I need for an ITIN loan?

Accepted Answer

Most lenders start at 620. A higher score and larger down payment improve your rate and approval odds significantly.

Question 3

How much do I need to put down?

Accepted Answer

Expect 15-25% down for most ITIN programs. Higher loan amounts in Santa Barbara may push that closer to 25%.

Question 4

Do I need two years of tax returns?

Accepted Answer

Most lenders want two years. Some accept 12-24 months of bank statements if your tax returns don't show enough income.

Question 5

Are ITIN loan rates higher than conventional rates?

Accepted Answer

Yes. ITIN is a non-QM product, so rates run higher than conventional. Rates vary by borrower profile and market conditions.

Question 6

Can I refinance an existing home with an ITIN loan?

Accepted Answer

Yes. ITIN loans work for purchases and refinances. The same documentation requirements apply either way.

ITIN Home Loans in Santa Barbara, CA