The ability to finance a mortgage without a Social Security Number is called ITIN Loan Financing. ITIN Mortgages allows the borrower to utilize the Individual Tax Identification Number as a substitute for the Social Security Number.
The features of an ITIN Mortgage Loan include:
- Financing available with ITIN Number
- Competitive rates and low fees
- Possibility of financing without private mortgage insurance (PMI)
- Affordable financing available with minimal credit history
- Option for loan servicing throughout the life of the loan
Fixed Rate ITIN Loans vs. Adjustable Rate ITIN Mortgage Loans:
There is a long standing debate even in the traditional mortgage loan sector regarding the use of Fixed Rate vs. Adjustable rate financing. The decision is usually easy – If the borrower plans on staying in their home for an extended period of time, it is more common to utilize a fixed rate loan. If the borrower is looking for short term living arrangements or a “flip,” it generally makes sense to take advantage of an adjustable rate mortgage.
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ITIN Loans are available from a number of lenders right now and the programs are designed to help ITIN Number holders apply and get qualified. If you are ready to start the pre-qualification process, just click the green “Get Started” button above.
In order to see if you meet the ITIN Requirements by applying online, it might be a good time to consider steps in deciding if the time is right for an ITIN Mortgage:
Step 1: Assess your finances
An important step in understanding what you can afford when looking for an ITIN Mortgage is to take a look at your finances. Put together a budget where you write down all of your monthly bills and expenses and take into account how much you get paid on a monthly basis. By understanding how much money you have left over after getting paid, you can make an educated decision about how much home you can afford which helps understand your limits in terms of getting an ITIN Mortgage.
Step 2: Get pre-approved for your mortgage
The next step is to get an ITIN Mortgage pre-approval, which you can do right here at ITINLending.net. Simpy click on one of the green “Get Started” buttons here on the page and you will be contacted by lenders who can help get you approved for a mortgage using your ITIN Number.
Step 3: Find a house
Once you begin the pre-approval process for your ITIN Loan, you are well on your way to the next step – finding your new home! There are a number of great resources online that allow you to view pictures of homes and read descriptions. If you find a home that interests you, these sites even allow you to set up a showing so you can walk through the home to see if it’s right for you.
Step 4: Get a mortgage
If you have already accomplished steps 1-3 above in your search for an ITIN Mortgage, then you have come to the right place. Not only can we help you get a pre-approval for your ITIN Loan, but we can also assist you in finding the right ITIN Lender to suit your needs. Simply click on the green “Get Started” button on this page to begin the process. In this scenario, ITIN Lenders will contact you to help get you qualified for an ITIN Loan.
Step 5: Close on your house
One of the most exciting events in your life (once you have completed the steps above) is to close on your new home. Typically, you will complete a final walk-through to ensure everything is as you assumed. Once closing is completed, it’s time to move in!
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