Applying for an ITIN home loan is as simple as calling a loan officer. They are well trained in non-traditional loan products and can walk you through the process step by step.
As with a normal mortgage loan, an ITIN loan will require that the lender review your tax information, pay stubs, and bank account information in order to make you a series of competitive offers at the usual timescales of 10-30 years at both fixed and adjustable rates. It is important that you have two consecutive years of tax returns under the same ITIN number, ensuring that it has not changed due to job changes or previous filings under a corporate tax ID number, which doesn’t work for this loan program.
The number one piece of advice for getting an ITIN loan is to be honest and transparent with your loan officer. If you try to hide anything that might complicate your loan -- a previous bankruptcy or owed child support -- the lender will still find out and you risk them revoking their offer or hiking the interest rate due to your lack of honesty. If you are honest, your loan officer can help you work around and explain away any potential issues. If you are dishonest, your loan is in jeopardy.
