Question 1

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

Accepted Answer

Yes. ITIN loans are designed for borrowers without an SSN. You'll need your ITIN tax history, down payment, and qualifying credit.

Question 2

What credit score do I need for an ITIN loan?

Accepted Answer

Most programs start at 620. Some lenders go lower, but expect higher rates and stricter terms below that threshold.

Question 3

How much do I need for a down payment?

Accepted Answer

Plan for 10-20% down. Some programs allow 10%, but 20% gives you access to better rates and more lenders.

Question 4

Do ITIN loans cost more than conventional loans?

Accepted Answer

Yes, typically. Rates are higher because these are non-QM products. Rates vary by borrower profile and market conditions.

Question 5

What documents do ITIN borrowers need?

Accepted Answer

Expect to provide 2 years of ITIN-filed tax returns, pay stubs or bank statements, and proof of identity.

Question 6

Can self-employed ITIN borrowers qualify in Santa Maria?

Accepted Answer

Yes. Some lenders accept bank statements instead of tax returns for self-employed ITIN borrowers. Loan terms will vary.

ITIN Home Loans in Santa Maria, CA