Investing in real estate without a Social Security Number is possible through ITIN mortgage loans, a financing option available to non-U.S. citizens and foreign investors. Understanding which banks offer these loans, the qualification requirements, and investment strategies can help non-residents build wealth in the U.S. property market.
What is an ITIN Home Loan?
An ITIN home loan is a mortgage designed for individuals who do not have a Social Security Number but hold an Individual Taxpayer Identification Number (ITIN) issued by the IRS. These loans allow non-citizens, foreign nationals, and undocumented immigrants to purchase real estate in the U.S. by providing alternative forms of credit history and proof of income.
Which Banks Offer Home Loans with an ITIN Number?
Not all lenders provide ITIN loans, but several banks and mortgage companies specialize in these programs. Below are some of the top lenders offering ITIN mortgages:
• First National Bank of America (FNBA): Provides ITIN mortgage loans nationwide with flexible underwriting criteria.
• Dream Home Financing: Works with multiple lenders to offer ITIN mortgage solutions.
• Alterra Home Loans: Specializes in lending to non-U.S. citizens, including ITIN borrowers.
• Acra Lending: Offers ITIN loan programs for real estate investors and homebuyers.
• Angel Oak Mortgage Solutions: Provides ITIN loan options with alternative credit verification methods.
Most ITIN mortgage lenders require at least two years of tax returns, proof of employment or self-employment income, and a down payment ranging from 10% to 30% depending on credit history and risk factors.
How to Qualify for an ITIN Mortgage Loan
Lenders assess several factors when determining eligibility for an ITIN mortgage. The most important criteria include:
• A valid Individual Taxpayer Identification Number (ITIN)
• Two years of filed tax returns using ITIN
• Stable employment or business income
• A 10-30% down payment, depending on the lender
• Alternative credit verification such as rental history, utility bills, and bank statements
• Valid identification (passport, consular ID, or foreign-issued identification)
Some lenders require a minimum credit score of 600, while others accept no credit history and rely on alternative credit documentation.
Real Estate Investment Strategies for ITIN Holders
Securing an ITIN mortgage loan is the first step toward building a real estate investment portfolio in the U.S. Below are the most effective investment strategies for ITIN holders.
Buy-and-Hold Rental Properties
Long-term rentals generate consistent rental income and allow investors to build equity over time. High-demand rental markets with job growth and population increases offer the best opportunities.
Fix-and-Flip Investments
Buying distressed properties, renovating them, and selling at a profit can yield high returns. Hard money lenders and short-term ITIN loans can provide financing for these projects.
Multifamily Real Estate
Investing in duplexes, triplexes, and apartment buildings increases cash flow and provides long-term wealth-building potential.
Commercial Real Estate
Retail, office, and industrial properties offer higher returns and lease stability compared to residential investments. Some lenders offer ITIN commercial real estate loans with larger down payment requirements.
Pros and Cons of ITIN Mortgage Loans
| Pros | Cons |
|---|---|
| Allows non-citizens to purchase real estate | Higher interest rates than conventional loans |
| Flexible credit history requirements | Requires a 10-30% down payment |
| Helps build a U.S. credit history | Limited number of lenders offer ITIN loans |
Frequently Asked Questions
Yes, non-citizens can purchase real estate using an ITIN mortgage loan or by paying in cash. Some lenders also offer foreign national loans for investors residing outside the U.S.
ITIN mortgage loans typically have higher interest rates compared to conventional loans due to increased lender risk. However, rates vary depending on creditworthiness, down payment, and lender policies.
Some lenders require a minimum credit score of 600, while others accept no credit history and rely on alternative credit verification methods such as rental and utility payment history.
Yes, refinancing is possible with lenders offering ITIN mortgage refinance programs. This option allows borrowers to lower interest rates, reduce monthly payments, or access home equity.
How to Get Started
Real estate investing with an ITIN number requires careful planning and choosing the right financing option. To begin:
• Fill out this form to be matched with a lender who can help.
• Prepare financial documents including tax returns, proof of income, and identification.
• Research rental markets and investment properties that align with your financial goals.
For more guidance, read our ITIN mortgage guide and explore DSCR loans for investors.
With the right strategy and financing, real estate investing with an ITIN number can be a powerful tool for building long-term wealth in the U.S. market.
Our advise is based on experience in the mortgage industry and we are dedicated to helping you achieve your goal of owning a home. We may receive compensation from partner banks when you view mortgage rates listed on our website.
