Property Q&A in Chicago>Question Details

Martha Moran, Home Buyer in Chicago, IL

can i buy this house witha itin number? how much is the down payment?

Asked by Martha Moran, Chicago, IL Thu Jun 25, 2009

house is on 1424 north kolin chicago il 60651

--
This question is about this property: http://www.trulia.com/homes/Illinois/Chicago/sold/767978-142…

Help the community by answering this question:

Answers

2
I can help you buy a home with an ITIN in claifornia with 35-40% down payment.
0 votes Thank Flag Link Fri Jul 20, 2012
ITIN Home Loans
Opportunity I-Loan will help those individuals and families who do not have a traditional checking account or have not been able to establish a credit history, qualify for low-interest mortgage loans and buy their first home. This program will make Illinois only the second state in the nation to provide affordable, 30-year fixed rate mortgage loans for qualifying individuals and families that live and work and pay taxes but have no credit history or social security numbers. The Program will also offer further protections from predatory home loans.

Several Chicago banks are offering mortgages to immigrants so that they can own a home.

One reason mortgages geared to immigrants are relatively prevalent in the Chicago area is because the Illinois Housing Development Authority (IHDA) introduced an "Opportunity I-Loan," which allows immigrants, as well as others who don't have established credit, to obtain a fixed-rate loan at a rate that's slightly below prevailing market rates.

Not having a Social Security number is another obstacle. Many lending institutions now accept a tax identification number (ITIN) which the IRS issues to immigrants regardless of the status. It can take a couple of months to receive an ITIN, and then some immigrants must take their W2 statements to an accountant who will file past tax returns. Most of the lenders require at least two years of tax returns as well as photo identification for a home loan. Here are some lenders in the Chicago area offering this type loan:

FIRST BANK DBA FIRST BANK MORT
5310 W CERMAK RD
CICERO, IL 608042816

HARRIS TRUST AND SAVINGS BANK
111 W MONROE ST STE LLW
CHICAGO, IL 606034096

HEMLOCK FEDERAL BANK FOR SAVINGS
234 N BOLINGBROOK DR
BOLINGBROOK, IL 604402383

HEMLOCK FEDERAL BANK FOR SAVINGS
3030 WEST CERMAK ROAD
CHICAGO, IL 60623

LHI MORTGAGE INC
2700 W HIGGINS RD STE 110
HOFFMAN ESTATES, IL 601952006

MID-AMERICA MORTGAGE CORP
Alex Gardner

SECOND FEDERAL S&L ASSOCIATION
4811 W CERMAK RD
CICERO, IL 608042532
0 votes Thank Flag Link Thu Jul 23, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer