ITIN Home Loans Help You Build Wealth Through Buying a House in the U.S.

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 a valid copy of passport and a copy of ITIN card

● Minimum of a 15% down payment. Down payment varies from 15% to 30% based on credit score and income ratio

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

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

● For W2 borrowers, 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 an 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 offer a unique and affordable ITIN mortgage lending program designed specifically for borrowers who have an Individual Tax Identification Number (ITIN) instead of a Social Security Number, empowering them to purchase their dream home and build wealth.
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