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
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
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!
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.