ITIN Mortgage : Get US Home Loan without SSN [2024]

Non-US citizens without a Social Security Number (SSN) can obtain US mortgages through ITIN loans.

ITIN Home Loans

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ITIN loans are specialized loan programs designed to help undocumented non-US citizens lacking Social Security Numbers (SSNs) in getting a mortgage in the US, which they wouldn’t otherwise qualify for through traditional loans.

Getting a mortgage in the US typically requires a Social Security Number (SSN), a standard requirement for lenders to identify borrowers. However, SSNs are generally issued to US citizens and non-citizens authorized to work in the country, creating a challenge for other non-US citizens who do not have SSNs. 

This is where ITIN mortgages come into play, offering a viable financing solution for those without an SSN. 

ITIN mortgages provide a vital gateway to US homeownership for non-US citizens without SSNs. 

I’ve been working in the US mortgage industry for over 14 years, equipping me with the experience and expertise to simplify ITIN loans for you. 

In this guide, I’ll cover everything about ITIN loans, from requirements to qualification steps to enable you to get an ITIN loan confidently by the end of this guide. 

Let’s start with understanding ITIN mortgages. 

Key Takeaways:
⁕ Non-US citizens who do not have a Social Security Number (SSN) can qualify for a mortgage in the USA by using an Individual Taxpayer Identification Number (ITIN). This type of mortgage is commonly referred to as an ITIN loan.

⁕ HomeAbroad specializes in providing ITIN loans, enabling non-US citizens without SSN to purchase homes or investment properties in the United States.

What is an ITIN loan?

An ITIN mortgage is a specialized loan program that uses ITIN (Individual Tax Identification Number) for identification instead of SSN. This loan program is designed for non-US citizens who don’t have a Social Security Number (SSN). 

Most mortgage programs require SSNs for identification, making non-US citizens without SSNs ineligible for all conventional and other mortgage programs that require SSNs. 

To solve this problem, ITIN mortgages consider ITIN, issued by the Internal Revenue Service (IRS) to non-US citizens for tax purposes. This ITIN number serves as a government-backed identification similar to the SSN’s. 

However, this is an alternative to traditional identification and doesn’t change anything else about the mortgage process. Borrowers must meet other financial and creditworthiness requirements to qualify for an ITIN loan. 

If you want an ITIN loan, HomeAbroad specializes in ITIN mortgages and can offer you the most competitive terms. Drop your details below to get a quick quote. 

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Hope it’s clear to you what’s an ITIN loan. Let’s discuss the specific requirements you need to fulfill to get these loans. 

ITIN loan requirements

Here are the qualification criteria you need to meet to get an ITIN mortgage with HomeAbroad.

  1. Identification documents (driver’s license or ITIN)
  2. Minimum credit score of 600 or higher
  3. 2-year employment history
  4. 2-year tax returns
  5. 12 month’s bank statements
  6. Profit and Loss Statement (For self-employed)
  7. Down payment: 10%-20%

These are the general requirements for getting an ITIN loan. However, the exact requirements may vary based on your specific loan scenario. Reach out to us to get a customized ITIN loan quote for you.

Next, let’s understand the application process for ITIN mortgages. 

ITIN home loan application process 

Below are the steps you need to take to apply for an ITIN loan. However, applying for an ITIN home loan runs parallel to the home-buying process. For a more comprehensive understanding, I highly recommend referring to our ‘Foreigners Buying a Property in the USA’ guide. 

Step 1. Submit your query 

Begin your ITIN mortgage application by submitting your initial details to us at HomeAbroad. This includes basic personal and financial information. 

At HomeAbroad, we specialize in ITIN loans and US homeownership for non-US citizens. We provide US mortgages, including ITIN loans, to non-US citizens at competitive terms. 

Get started today!

Step 2. Get a preapproval 

Once you submit your details, a loan officer will reach out to you to understand your case and requirements. You can request preapproval to know how much you can borrow based on your profile.  

Step 3. Prepare the necessary documentation 

As you get preapproval, start looking for the property accordingly. Additionally, prepare the necessary documents to apply for the loan swiftly when you find the property you want and your offer is accepted.  

Here are the documents needed for ITIN loans: 

  • Passport: For identity verification. 
  • ITIN: As a substitute for an SSN. 
  • Driving License: Additional proof of identity. 
  • Current residency documents, such as a rental agreement or utility bills, can be used to confirm your residence. 
  • Employment Letter: To verify employment status. 
  • W-2 or 1099 Forms: For income verification. 
  • Bank Statements: To demonstrate financial stability. 

Step 4: Submit your ITIN mortgage application 

Once your offer is accepted, you’ll sign a purchase contract with the seller. Share the signed purchase contract with your loan officer and proceed with the loan application. After your application submission, your loan officer will share a loan estimate, which contains the loan terms they are offering you. You can negotiate or agree on the terms to forward your application for underwriting.

Step 5: Underwriting

Underwriting is a process where an underwriter thoroughly analyzes your application based on lending guidelines and runs risk analysis to make the final call. The underwriter can make three decisions: approve, reject, or approve with conditions.  

Step 6: Lock your interest rates 

Mortgage rates in the US fluctuate daily with market changes, including ITIN mortgage rates. After accepting the loan estimate, you can lock the interest rates for a certain period (30-60 days) to avoid any rate change before closing. Typically, there is a fee for locking the rates. 

Step 7: Mortgage closing 

Once the underwriter gives the final approval, you are ready to close. Inform your loan officer about your planned closing day. They will share a closing disclosure, which contains your mortgage payment details, loan terms, and final closing costs.  

Review this document and accept to finalize your home loan. On closing day, you’ll pay the closing costs and sign the necessary papers to take ownership of the property. 

You can follow this closing day checklist to be well-prepared for your big day. 

Mortgage closing checklist

You are all set to buy a home on ITIN loan now. Before you apply, check out the interest rates for ITIN loans. 

ITIN mortgage loan interest rates 

Typically, the interest rates for ITIN mortgages are 0.5%-1.5% higher than those for conventional 30-year fixed mortgages.  

However, your interest rate may vary depending on your credit score, down payment, and overall risk assessment of your profile.  

If you want to know your exact interest rate for ITIN loans, get a rate quote from us.

Not sure. Can you buy the property you are looking for with an ITIN loan? 

Let’s find out. 

What kind of properties can you buy with ITIN mortgages?

Here is a list of properties typically eligible for financing with an ITIN loan: 

1. Single-family detached homes 

2. Townhouses or row houses 

3. Condominiums 

4. 2-4 unit residential properties 

While many mortgage lenders primarily offer ITIN mortgages for primary residences, you can get ITIN loans for investment properties as well. However, loan terms and requirements will be different due to increased risk. 

Do you have doubts about whether ITIN loans are the right choice for you? While the benefits are clear, what are the drawbacks you should consider? 

Pros and cons of ITIN mortgage loans

Here are the pros and cons of ITIN loans so you can weigh both sides and choose.

Pros Cons 
Only home loan option for non-US citizens without SSNs. Higher down payment than conventional mortgages 
Flexible loan terms Higher interest rates than conventional mortgages 
Tax deductions on mortgage interest and property tax  
Faster approval  

It’s clear from the table that ITIN loans are expensive compared to conventional mortgages, but these are the only home loan option for non-US citizens without SSN. Hence, this could be the only way to buy your dream house and start building equity instead of renting endlessly. 

HomeAbroad offers ITIN loans at competitive rates. Get a quote today!

Frequently Asked Questions

  1. Can I get a mortgage with an ITIN number? 

    Yes, individuals with an ITIN (Individual Taxpayer Identification Number) can get a mortgage to buy property in the USA. ITIN mortgage loans are specifically designed for this purpose. 

  2. Can you get a Fannie Mae loan with an ITIN number? 

    No, conventional mortgages sponsored by Fannie Mae or Freddie Mac require a Social Security Number (SSN). Therefore, you cannot qualify for these types of mortgages with an ITIN alone. 

  3. Can you buy a house with an ITIN number? 

    Absolutely, owning a house with an ITIN number is possible. Refer to the aforementioned ITIN home loan details to get started.

  4. What is the difference between ITIN and SSN? 

    An ITIN (Individual Taxpayer Identification Number) is issued by the IRS to individuals who are ineligible for a Social Security Number (SSN). While SSNs are issued by the Social Security Administration primarily to US citizens and authorized non-citizens. ITINs are for tax purposes and serve those who must comply with US tax laws but cannot get an SSN. 

  5. How can I get a loan without a Social Security Number? 

    If you don’t have a Social Security Number, ITIN mortgages are a viable option. These loans are specially tailored for individuals who use an ITIN. 

About the author:
Amresh is the Founder & CEO of HomeAbroad. With over 14 years of mortgage industry experience, he specializes in foreign national mortgages and Non-QM mortgages. He is also a licensed mortgage originator (NMLS # 2549148).

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