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ITIN Mortgage: Open the Door to Home Ownership
Home ownership without a social security number? It’s possible. At United, we understand that the path to home ownership can feel out of reach—especially for individuals who live and work in the U.S., pay taxes, and contribute to their communities, yet don’t qualify for a social security number. The good news? You still have options.
If you have an Individual Taxpayer Identification Number (ITIN), you may be eligible for a mortgage loan. While not all lenders offer ITIN mortgages, United proudly does.
“ITIN mortgages help remove barriers by allowing borrowers who use individual taxpayer identification numbers instead of social securities be able to qualify for a mortgage loan, versus not being able to get into a home or have to go through a private loan or have to go through a different avenue where rates are a lot higher than they need to be," says United Mortgage Advisor Beatriz Pico.
United Federal Credit Union's ITIN mortgage program is designed to make home ownership accessible for more people. Whether you're buying your first home or refinancing, our experienced mortgage advisors are here to guide you every step of the way.
“It’s important for United to offer this because we do have a lot of ITIN members," Pico says. "We are able to offer them bank accounts, checking accounts, savings accounts, all those products on the deposit side. So, it's important for us to be able to offer something on the mortgage side as well. That they can have their full relationship with us.”
Keep reading to find out more about ITIN mortgage loans, who can apply, and how to do it.
What is an ITIN Mortgage?
An ITIN mortgage is a specialized home financing option designed for individuals who do not have a social security number but do have an individual taxpayer identification number (ITIN). This type of loan makes it possible to purchase or refinance a home while building financial stability in the U.S.
With flexible terms ranging from 15 to 30 years, qualified borrowers can finance up to $1.5 million for a primary residence. Additionally, gift funds can be used toward the down payment and mortgage, helping make home ownership more accessible.
Already own a home? ITIN mortgage loans also offer refinancing options, allowing you to secure a better interest rate and improve your financial outlook.
Should I refinance my mortgage? Use our mortgage calculator to find out.
Who Can Apply for an ITIN Mortgage?
ITIN mortgage loans are designed for individuals who are not eligible for a social security number, including U.S. resident aliens, non-resident aliens, and those in the process of obtaining legal status. To qualify, applicants must have been issued an Individual Taxpayer Identification Number (ITIN) by the IRS.
Just like permanent residents, ITIN holders have many reasons to pursue homeownership or refinancing. For example:
Students attending U.S. colleges or universities may find buying a home more cost-effective than renting long-term. Frequent business travelers to the U.S. may prefer the convenience and stability of owning a home, rather than staying in hotels. Individuals planning for long-term residency may use property ownership to support visa applications—though it’s important to note that owning a home does not guarantee a visa.
Whether you're building a life in the U.S. or investing in your future, an ITIN mortgage can help make your goals a reality.
Is the Home-Buying Process Different for an ITIN Mortgage?
"The home buying process is not different at all," Pico says. "The only difference is that they don't have a social security number. They're using an ITIN instead, to do taxes, but they will still have to provide all the same documentation a regular borrower would need to."
What's the Biggest Myth About ITIN Mortgage?
“The biggest myth would be that these loans require double-digit interest rates. Even with the high interest rate environment that we're in right now, there's no reason that the rate should be that high. These types of loans are a little bit more risk to the bank and that's why the rates are a tad bit higher than just a regular conventional loan, but it should not be so much higher.”
How to Apply for an ITIN Mortgage
Getting started on your journey to home ownership with an ITIN mortgage is easier than you might think. With the right preparation and support, your dream of owning a home can become a reality.
Here’s how:
- Schedule an appointment
Begin by meeting with a local mortgage advisor who can provide personalized guidance tailored to your financial situation and goals. - Prepare your financial documents
Be ready to show proof of sufficient income and assets to cover your mortgage payments and down payment. Gift funds may also be used to help meet these requirements. - Gather supporting documentation
Applicants should expect to provide recent tax returns and other documents requested by the mortgage advisor to verify eligibility and financial stability.
Interested in learning more and applying for an ITIN Mortgage? Take the first step and schedule an appointment with an advisor today.
Ready to apply? Complete your application online.
Loans subject to credit and collateral approval. Rate and term based on individual credit history and program guidelines. Consult a mortgage advisor for more details.
