Stewardship Capital

ITIN and Foreign National Home Loans

Not everyone who wants to buy a home in the U.S. has a Social Security number or U.S. credit history. ITIN loans and foreign national loans are built for these buyers. This page explains who they are for, what documents are common and how the process works.

What is an ITIN loan?

An ITIN is an Individual Taxpayer Identification Number issued by the IRS. It is for people who must file taxes but are not eligible for a Social Security number. An ITIN loan is a mortgage for a buyer who uses an ITIN instead of a Social Security number. These loans are usually offered by specialty lenders, and each lender sets its own rules.

Who might use an ITIN loan?

Many ITIN buyers live and work in the U.S., pay taxes and want to own a home. They may have steady income but little traditional credit history. Stephen reviews each situation on its own.

What do ITIN lenders look at?

The list varies, and lenders may ask for more. These are common.

• Your ITIN letter from the IRS
• Tax returns filed with your ITIN, and income proof
• Bank statements
• A government photo ID
• Credit history, which may include other bills like rent and utilities if you have no credit score
• A down payment from your own funds

Self-employed buyers may qualify using bank statements or tax returns. Rules vary by investor.

What is a foreign national loan?

A foreign national loan is for a buyer who lives outside the U.S. and wants to buy U.S. property. It might be a vacation home or an investment. These buyers often do not have U.S. income or credit. Lenders look at other proof.

What documents are common for foreign nationals?

• A valid passport, and sometimes a visa
• Proof of where your funds come from, such as foreign bank statements
• Letters from your bank or other references in place of a U.S. credit report
• Translations of any documents not in English
• A U.S. bank account for the closing and, in some cases, payments
• Proof of funds for the down payment and reserves

Down payment needs are often larger than on a standard loan. Investment properties may qualify based on rental income. See our DSCR investor loans page.

Where can the property be?

Stephen is licensed in California, Idaho, Tennessee, Florida, Arizona, Kansas and Texas. The property must be in one of those states. Southern California is where most of our work happens.

Are these loans the same as standard loans?

No. They are usually non-QM loans, which means they are not sold to Fannie Mae or Freddie Mac. The lender sets its own rules. Paperwork and down payment needs may differ from a standard loan. Read your loan estimate closely and ask about every fee and feature before you decide.

How is the process different?

These loans are often reviewed by hand, which can take more time. Lenders may ask for extra letters or proof. Names must match across documents. A small mismatch can slow things down. Plan for this and keep copies of everything.

Buyers can prepare by filing taxes on time, keeping bank accounts steady and keeping records of rent and bill payments. Funds that came from a recent gift or transfer often need extra paperwork.

What should I know before I start?

Start the paperwork early. Foreign documents and translations can take time. Wire transfers from other countries need to be planned, because lenders want to trace the source of funds. Realtors can help by telling their clients to gather documents before they find a home. Read our Buy a Home page and check loan limits by county for county limits. A tax or legal professional can advise on taxes and ownership. Stephen cannot give tax or legal advice.

This is not a quote, a commitment to lend or an offer of credit. Stephen Chakerian, NMLS #2193331 | Stewardship Capital, a team of Barrett Financial Group, L.L.C., NMLS #181106 | Equal Housing Opportunity.