Your Trusted Lender for ITIN Loans & Tax ID Loans

What is an ITIN (Tax ID) Loan?

Tax ID loans are mortgage loans that only require an individual tax identification number (ITIN), and do not require applicants to have a Social Security Number (SSN) or Green Card.

What Do I Need To Qualify?

● ITIN program only requires valid ITIN card

● Minimum of 15% down payment

● 15% down qualified borrowers based on scores and income ratios. Down payment varies from 20% to 30%

● Borrowers needs 3 alternative tradelines (credit accounts, car loans, personal loans, etc.) to be considered, and need at least 25% down payment

● 24 months bank statements may be used for self-employed borrower to qualify (PERSONAL BANK STATEMENTS ONLY OR DBA)

● For W2 borrower we only use W2 and pay stubs to qualify

● Max Debt To Income ratio is 43% but can go up to 50% with compensating factors

What Are The Benefits Of a ITIN (Tax ID) Mortgage?

Homeownership can be difficult to accomplish for non-U.S. citizens who live and work in the United States. Many within the immigrant population do not have a social security number and have a limited credit history. This often disqualifies them for obtaining a conventional mortgage loan.
At Prysma, we work with these individuals, offering an affordable ITIN mortgage lending program that allows potential homeowners with a ITIN (Individual Tax Identification Number) instead of a Social Security Number to purchase their dream home.
Sources:
NAHREP (pdf): https://nahrep.org/downloads/2022-state-of-hispanic-homeownership-report.pdf
US Department of Housing and Urban Development (pdf): https://www.hud.gov/sites/dfiles/OCHCO/documents/19-02hsgml.pdf