ITIN Mortgage Loan
Golden Mortgage Corporation offers several niche products, one type of loan is an ITIN mortgage loan (Individual Tax Identification Number). An ITIN loan is for those borrowers who do not have proper authorization to be in the US and do not possess a Social Security number but instead a ITIN.
An ITIN is a 9-digit number “Individual Taxpayer Identification Number”. It is a tax processing number only available for certain nonresident and resident aliens, their spouses, and dependents who cannot get a Social Security Number (SSN). It is a 9-digit number starting with the number “9” and formatted as an SSN. The ITIN mortgage for owner occupied purchase or refinance 1-4 unit property and second homes. Loan are underwritten as 1) Full documentation: paystubs, bank statements, W2, 1099 or 2) Alternative documentation income: using personal or business bank statements average deposits or a 12 month business Proft & Loss Statement (in same line of work for two (2) years).
To qualify for mortgage, a borrower must provide specific requirements to qualify.
- A letter from the IRS confirming the ITIN was assigned to our borrower
- Picture of a Government ID with a photo
- Loan amount max $1,500,000
- Minimum loan $150,000
- Max Loan To Value is 80%
- Cash out 75%
- Max cash out $500,000
- Max Debt To Income ratio 50%
- No score OK
- Limited tradelines OK
- Second home, 2-4 units, rural (max 15 acres) & non-warrantable condos OK
- 1 year P&L signed by licensed tax preparer, or
- 1 year income, bank statements (must prove 2 years in business), W2 or tax returns
- 15, 20 & 30 year fixed available
- 24 months BK seasoning with exceptions down to 12 months
- Cannabis Income OK
Please call telephone toll fee (877) 539-1697 today to discuss your New Jersey mortgage needs. We are here to help you. Call us or complete the Inquiry form or secured Secured Online Mortgage Application we will contact you.