Don’t have a social security number? For undocumented immigrants, the traditional loan process poses obstacles. But it is still possible to buy a home in Cape Coral or anywhere in the state of FL without one.
To provide our customers with a fast, easy alternative to applying for a loan with a social security number, we offer ITIN mortgages in Florida.
Apply for a Mortgage Without a Social Security Number in FL
When you apply for an ITIN home loan, you do not need to provide us with a social security number. Instead, just let us know your Individual Tax Identification Number (ITIN). You can document this with your ITIN Card.
Benefits of ITIN Loans in Florida
- With an ITIN home loan, no social security number is necessary to qualify for a mortgage.
- Don’t have an established credit score yet in the US? You may still be able to successfully apply for a mortgage through the ITIN loan process.
- You do not have to document your residency.
- While you might pay a higher mortgage rate for this type of loan than a corresponding conventional home loan, it may not be as high as it would be for a sub-prime loan.
Qualifying for an ITIN Mortgage in FL
- You can generally expect a higher down payment requirement for an ITIN loan than a conventional mortgage. But we can help with down payment assistance.
- Before you can use your ITIN number to apply for a mortgage successfully, you need to file tax returns with it for at least two years.
- As with other types of mortgages, you need to document two years of employment in a consistent capacity on a solid career track.
- Documentation of income is required. Bank statement ITIN loans are available to those who cannot prove income with traditional pay stubs.
- As with any type of home loan, a high credit score and low debt-to-income (DTI) ratio will qualify you for the most competitive rates and terms.