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ITIN Loans in Rohnert Park
Rohnert Park's affordable Sonoma County pricing attracts borrowers who earn well but lack traditional SSN documentation. ITIN loans let you buy property using your Individual Taxpayer Identification Number instead.
Most conventional lenders won't touch ITIN applications. That's where specialized non-QM lenders fill the gap, offering real mortgage programs for tax-paying residents without Social Security numbers.
You need a valid ITIN, minimum 15-20% down payment, and 600+ credit score. Most lenders require 12-24 months of bank statements or tax returns showing consistent income.
Property must be your primary residence or investment. No cash-out refinances in most programs. Expect rates 0.5-1.5% higher than conventional loans due to the specialized underwriting.
Only about 15-20 wholesale lenders in our network offer true ITIN programs. Each has different income documentation requirements and property type restrictions.
Some lenders accept 1099 forms, others want two years of ITINs filed with the IRS. A few will go as low as 580 credit, but those come with higher rates and fees.
I see two common ITIN borrower profiles in Rohnert Park: contractors with years of bank deposits and small business owners filing ITIN tax returns. The bank statement route usually gets better rates.
Biggest mistake: waiting until you find a house to get pre-approved. ITIN loans take 10-14 days longer to underwrite than conventional. Start the process early or you'll lose in multiple offer situations.
Foreign National Loans require larger down payments (25-35%) but accept offshore income. ITIN loans work better if you earn and pay taxes in the U.S. but lack SSN documentation.
Bank Statement Loans overlap with ITIN programs. Some lenders offer both under one product. The difference: ITIN specifically serves borrowers without Social Security numbers, while bank statement loans focus on self-employed income verification.
Rohnert Park's condo and townhome inventory works well for ITIN borrowers with 15-20% down. Some lenders restrict condos, so verify property eligibility before writing offers.
Sonoma County has strong rental demand if you're buying investment property. ITIN loans allow non-owner occupied purchases, unlike many first-time buyer programs that require SSNs and primary residence occupancy.
Very few lenders go below 15% down on ITIN loans. Expect 15-20% minimum, with best rates at 20% or higher.
Depends on the lender. Some accept 12-24 months of bank statements, others want two years of ITIN tax returns filed with IRS.
Expect rates 0.5-1.5% above conventional mortgages. Rate spread narrows with higher credit scores and larger down payments.
Yes, rate-and-term refinances work. Cash-out refinances face tighter restrictions depending on the lender and equity position.
Single-family homes qualify easily. Condos need lender-specific approval. Manufactured homes usually don't qualify on ITIN programs.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Traditional mortgage financing not backed by a government agency, offering flexible terms and competitive rates for qualified borrowers.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.