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Home And Land…,  in Houston, TX

What lenders do ITIN Mortgages now? Borrower has over two years employment, check stubbs, w-2's tax returns, bank statements, and land.

Asked by Home And Land Closer, Houston, TX Sat Nov 26, 2011

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6
Hello does anybody knows who makes mortgage loan with itin?
0 votes Thank Flag Link Wed Mar 18, 2015
which bank does this loans, i contacted Amegy Bank but they coudn't help me
because i own 4 rentals, i'm looking at a home i want to live in, this home would not be a rental,
my business is a restaurant, please let me know if you can help
0 votes Thank Flag Link Tue May 20, 2014
FNMA and FHLMC both accept loans with ITIN numbers and they always have. The biggest issue with this is the borrower has to put at least a 20% down payment but, if you sell your servicing then you have to check with your lenders/mortgage companies you sell loans to and see if they accept ITIN numbers in their master policy with FNMA
0 votes Thank Flag Link Mon Nov 18, 2013
Al,
ITIN numbers are given to Canadians and other foreigners. They are not undocumented residents.
My bank can do them if the applicant has a credit report.
0 votes Thank Flag Link Sun Nov 27, 2011
what is the down payment requirement for these borrowers with ITIN numbers and not SS numbers issued by the SSA? what is the interest rate and what is the credit score requirement?
Flag Mon Nov 18, 2013
We continue to do ITIN loans - they actually perform very well; must have 25 - 30% equity into deal. If no traditional credit history available, then must use alternative - rental, utilities, etc. for at least 4 credit references. DTI similar to conventional loans. We are proud to help several undocumented residents every month. Let me know if we can be of further assistance, be glad to help. Happy Holidays!

Mario Romero
Mortgage Banker

mromero@amcap1.com
832 818 5868
0 votes Thank Flag Link Sat Nov 26, 2011
I contacted two of my lenders, and neither of them knows of any entitity still doing ITIN loans. Both cite the precarious position of undocumented residents as the primary factor. Looks like a tough nut to crack ... perhaps a lender who contributes to this forum can be of assistance. I wish you well.
Web Reference: http://www.har.com/algeffon
0 votes Thank Flag Link Sat Nov 26, 2011
thank you
Flag Tue May 20, 2014
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