ITIN Home Loans
Homebuyers who don’t have a Social Security number (SSN) may think getting a home loan is out of reach. But Individual Tax Identification Number (ITIN) loans can make the home of their dreams possible.
What is an ITIN loan?
ITIN loans are unique home loans that allow borrowers to obtain home financing and buy a house using their ITIN (or tax ID number) instead of traditional documentation. An ITIN can be issued to a U.S. resident alien or non-resident alien that files a tax return and is not eligible for a Social Security Number. An ITIN can also be issued to dependents and/or spouses of a U.S. citizen or resident alien. If you have an ITIN, the CCM Signature Expanded ITIN Loan may provide a path to homeownership.
What’s an ITIN number?
ITINs are issued by the Internal Revenue Service (IRS) and can be used as a form of ID in place of a Social Security number. These tax ID numbers are issued to anyone who files a U.S. tax return and has payment responsibilities, regardless of immigration status. The difference in the case of an ITIN loan, the number acts as a form of identification that can be used if a Social Security Number is not an option. If you don’t currently have an ITIN, getting one is relatively straightforward. You’ll need to gather tax returns and identification documents, fill out Form W-7, and apply with the IRS.
Non-QM loans
Traditional mortgages often don’t fit non-traditional financial circumstances. For example, individuals without a Social Security number often struggle to secure home financing due to identification requirements. But CCM is committed to providing for every borrower through the CCM Signature Expanded Series.
Our in-house Non-Qualified loans (Non-QM) offer financing for everyone from retirees to self-employed workers and real estate investors. Borrowers can use bank statements, liquid assets, 1099 income, and more to achieve their homeownership dreams. No matter your goal or finances, we’re dedicated to getting it done.
How do ITIN home loans work?
ITIN loans allow you to qualify for a home loan using your ITIN instead of a Social Security number for identification.
The CCM Signature Expanded ITIN Loan offers alternative income qualification using our Full Doc and Bank Statement programs. That means you may be able to finance your home despite financial challenges or lack of tax returns, W-2s, or pay stubs.
Who is eligible for a ITIN mortgage loan?
Borrowers with an ITIN can qualify for ITIN home loans.. While it can be challenging to find loan options without a Social Security number, ITIN loans offer a path to homeownership without the significantly higher interest rates of hard money loans.
ITIN loan requirements
Here are the following requirements when applying for a bank statement loan.
- Down payment: 10% minimum down payment
- Property type: Can be used for primary and second homes and investment properties
- Identification – In addition to your ITIN card, you may need to provide a valid government-issued ID, such as a driver’s license or passport.
- Credit History – While ITIN loans often have more flexible credit score requirements, some lenders may place extra emphasis on your credit. If your score is low, you may be asked to provide details about existing debts and payment history.
- Proof of Employment – You’ll need to show at least two years of consistent employment or self-employment history.
- Tax Returns – Two years of filed tax returns under your ITIN will be required to support your income claims.
- Financial Documentation – Lenders may request bank statements, proof of savings, and documentation of other assets to demonstrate your ability to make monthly mortgage payments.
How to get an ITIN loan
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1
Gather supplemental documentation, including tax returns that confirm you’re a non-resident in the United States and forms of identification, like an ID card, birth certificate, driver’s license, and medical and/or school records. The more identification you can provide, the easier the application will be to process.
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2
Fill out Form W-7.
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Submit Form W-7 and any additional documentation to the IRS.
The purpose of the W-7 form is to tie your documents with your identification, verify it against the information on your tax return, and assign a number accordingly. Your ITIN will be tied to your tax return, so using your latest filing as part of the application is essential.
While the processing time varies, most people receive an outcome for their application within 4-6 weeks.
ITIN loan FAQs
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Yes! No Social Security number is needed with the CCM Signature Expanded ITIN Loan.
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No. The FHA requires all borrowers to have a Social Security number to qualify.
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No. We provide an easy qualification process with the CCM Signature Expanded ITIN Loan.
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Fill out Form W-7 and apply with the IRS. Generally, applications receive a response within 4-6 weeks.
