Question 1

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

Accepted Answer

Some lenders go to 15% down if you have 680+ credit and clean tax returns. Rates increase about 0.25% compared to 20% down deals.

Question 2

Do ITIN lenders count rental income from other properties?

Accepted Answer

Yes, if you show two years of Schedule E reporting that income on your tax returns. They'll use 75% of the gross rent to offset PITI on the rental.

Question 3

How long does ITIN loan approval take in Tulare?

Accepted Answer

Plan for 45-60 days from application to closing. Manual underwriting takes longer than automated conventional approvals.

Question 4

Will my ITIN loan require mortgage insurance?

Accepted Answer

No. ITIN loans don't use PMI. You offset the risk with a larger down payment instead.

Question 5

Can I refinance an existing mortgage into an ITIN loan?

Accepted Answer

Yes, if you've been paying on time and have enough equity. Rate-and-term refinances work better than cash-out deals for ITIN holders.

ITIN Loans in Tulare: Get Approved Without a Social Security Number