Question 1

Can I get a home loan in Gilroy with just an ITIN?

Accepted Answer

Yes. ITIN loans are built for this exact situation. You need a valid ITIN, two years of tax returns, and a down payment.

Question 2

Do I need to be a U.S. citizen to use an ITIN loan?

Accepted Answer

No citizenship required. You must be a U.S. resident who pays taxes with an ITIN. Permanent residents and visa holders both qualify.

Question 3

How much do I need to put down on an ITIN loan in Gilroy?

Accepted Answer

Expect 10-20% minimum. Thinner credit files often require 20% or more. Rates vary by borrower profile and market conditions.

Question 4

Will my ITIN loan have a higher rate than a conventional loan?

Accepted Answer

Yes, typically. Non-QM products carry higher rates than conventional. Rates vary by borrower profile and market conditions.

Question 5

What if I'm self-employed and have an ITIN?

Accepted Answer

Some lenders accept bank statements alongside ITIN documentation. This helps if your tax returns show low net income.

Question 6

Can a co-borrower with an SSN help my ITIN application?

Accepted Answer

Yes. A co-borrower with an SSN and strong credit can significantly improve your approval odds and loan terms.

ITIN Home Loans in Gilroy, CA