Question 1

Can I get an ITIN loan with no down payment in Winters?

Accepted Answer

No. ITIN loans require 15-20% down minimum. Higher down payments improve rates and approval odds for non-QM products.

Question 2

Do I need two years of tax returns filed with my ITIN?

Accepted Answer

Yes. Lenders verify income through IRS transcripts showing two years of consistent filing. Missing years disqualify most applications.

Question 3

What if my tax returns show low income from business deductions?

Accepted Answer

Use bank statement loans instead. They calculate income from deposits, not tax returns, solving the write-off problem many self-employed borrowers face.

Question 4

Are ITIN loan rates higher than conventional mortgages?

Accepted Answer

Yes, by 1-2 percentage points. Non-QM pricing reflects manual underwriting and portfolio lending risk. Rates vary by borrower profile and market conditions.

Question 5

Can I refinance my Winters home with an ITIN loan?

Accepted Answer

Yes. Cash-out and rate-term refinances work if you meet credit and equity requirements. Expect 25-30% equity minimum for cash-out deals.

Question 6

Do ITIN loans work for investment properties in Yolo County?

Accepted Answer

Yes, but expect 25-30% down and slightly higher rates. Lenders price investment properties more conservatively in non-QM programs.

ITIN Loans in Winters: Homeownership Without a Social Security Number