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The Ultimate Guide To ITIN Mortgage Loans

Written by Monica Serva, NMLS# 4458 Last updated 8/15/2023

ITIN Loans: Prysma Lending Group's Ultimate Guide

Why We Wrote This ITIN Mortgage Loan Guide

My name is Monica Serva and I started Prysma Lending Group in 2003 to help individuals accomplish their dream of homeownership.
I saw too many companies treating their clientele poorly, especially minorities and underprivileged groups. Prysma Lending Group works in the best interest of our clients, regardless of their color or ethnicity.
A large group of individuals in the U.S. that need help with mortgages are those without a social security number. Many banks and lending institutions do not want to deal with the extra work of offering ITIN loans, but Prysma Lending Group is here for you.
This guide was created to help you understand the purpose of Tax IDs, how to receive yours, your mortgage options with an ITIN and what the application process is like.

  • Who Is This Guide For?

    This guide is for:● Potential home buyers● Those interested in obtaining a Tax ID● Those interested in obtaining a Tax ID loan, or ITIN loan● Individuals without a social security number who want to understand their mortgage options● Anyone frustrated with having to bounce around between different guides to learn everything they need to know.

  • What This Guide Includes?

    This guide is broken into chapters that cover different topics along with subsections.
    Chapter 1 begins with explain what Tax ID (ITIN) Numbers are. Each week, we will add additional chapters that will discuss the following topics: how to receive a Tax ID loan, the advantages and disadvantages of Tax ID loans, what you need to qualify for a Tax ID loan and the application process.

  • How Should I Use This Guide?

    If you are completely unfamiliar with Tax ID Mortgages, we recommend that you read this guide from beginning to end.
    But, if you are looking for specific details, view the chapter summaries below to find the right chapter for you.
    Read the whole thing or only what you truly need. This guide is meant to be your go-to reference for everything related to Tax ID Mortgage Loans.

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Everything you Need to KnowAbout ITIN Loans


Chapter 1 – Understanding Tax ID (ITIN) Numbers

Learn what an Individual Taxpayer Identification Number (ITIN) is and what individuals require them upon obtaining a home mortgage. Also review the difference between an ITIN number, a social security number or an Employee Identification Number (EIN).


Chapter 2 – Receiving a Tax Identification Number (ITIN)

After gaining insight about what Tax Identification Numbers are, you’ll need to understand how to receive your Tax Identification Number. We’ll be going over all of the necessary steps as well as how to check up on your application.


Chapter 3 – The Advantages & Disadvantages of Tax ID Loans

There are many moving parts when it comes to getting an individual Tax Identification Number. In this chapter we go over both the advantages and disadvantages to getting a Tax ID loan to help making your decision on pursuing one much easier.


Chapter 4 – What Do I Need to Qualify for an ITIN Loan?

There are various qualifications for obtaining an Individual Tax Identification Number. In this chapter we discuss these qualifications, what you need to meet these qualifications, and what you do not need to qualify.


Chapter 5 – The Application Process for a Tax ID Mortgage Loan

This chapter will guide you through the process of Tax ID Mortgage Loans. That’s right – we’ll be discussing the application process and what you need to be aware of while you apply.


Chapter 6 – Recap & Your Next Steps

Congratulations, you are finally an expert on Tax ID Loans! You have made it to the last chapter in our Ultimate Tax ID Loan Guide. In this chapter we will go over the previous chapters, allowing you to review the process and key information regarding Tax ID Loans.

Chapter 1 - Understanding Tax ID (ITIN) Numbers

  • What is an ITIN Loan?

    An ITIN Loan, otherwise known as a Tax ID Mortgage Loan or Tax ID loan, is a mortgage loan that can be acquired by a perspective homeowner with exclusive use of an ITIN card. ITIN Loans are frequently used to purchase homes by people who do not have a social security number. 
    ITIN loans differ from other types of loans like Conventional Mortgages, FHA loans, and Adjustable Rate Mortgages in that eligibility can be given to those who do not have a social security number, making ITIN loans ideal for residents and non-residents of the U.S who are not citizens, as well as spouses of those individuals.

  • What is an ITIN? (Individual Taxpayer Identification Number)

    An ITIN is a nine-digit number assigned by the IRS. The number always begins with a 9 and has a 7 or 8 as the fourth digit. The IRS issues ITINs to individuals who are required to have a Taxpayer Identification Number and cannot obtain or are not eligible to receive a Social Security Number.
    A Tax Identification Number is a term used to describe one of several forms of identification that the Internal Revenue Service (IRS) provides. An ITIN is a unique identifier that helps you interact with the IRS. Other types of identification include a Social Security Number (SSN), Individual Taxpayer Identification Number (ITIN), Employer Identification Number (EIN), an Adoption Taxpayer Identification Number or a Preparer Tax Identification Number.
    ITINs can be used as an identifier for individuals interested in applying for a home mortgage to achieve homeownership.

  • Who Needs an Individual Taxpayer Identification Number (ITIN)?

    In general, ITINs are assigned by the IRS to individuals who are required to have a Tax Identification Number but are not eligible to receive a Social Security Number (SSN) from the Social Security Administration (SSA) or other forms of identification.
    You may need an ITIN if you are a:● U.S. resident alien (based on days present in the United States) filing a U.S. tax return and are not eligible to receive a Social Security Number● Non-resident alien filing a tax return and are not eligible to receive a Social Security Number● Dependent or spouse of a U.S. citizen or resident alien● Dependent of a spouse of a non-resident alien visa holder
    You can receive an ITIN regardless of your immigration status in the U.S. because both resident and nonresident individuals may have U.S. tax returns and payment responsibilities. Basically, if you don’t have an exception to file taxes in the U.S. and don’t have a social security number, you can receive a ITIN from the IRS.

  • What is the Difference Between an ITIN and other Tax Identification Numbers?

    Individual Taxpayer Identification Number (ITIN)Not everyone qualifies for a SSN. For example, you might not qualify if you are not a United States citizen or if you do not meet certain government requirements such as the dependent test. Those who do meet the requirements are able to obtain an ITIN by completing a Form W-7, as well as completing supplemental documents that help with the confirmation of being a nonresident in the U.S.
    Social Security Number (SSN)Most likely, you already have a basic understanding of Tax Identification Numbers if you are familiar with the concept of Social Security Numbers. They are the most common forms of TIN, and are frequently applied for by parents on behalf of their children for the purpose of income taxes. This process is often free, but it can include certain fees for new parents in which they use a SSN to claim the child as a dependent.
    Employer Identification Number (EIN)You may have also heard of an EIN. EINs are used by employers, sole proprietors, corporations, LLCs, partnerships, non-profit associations, trusts, estates of decedents, government agencies, certain individuals, and other business entities. Companies use an EIN number for identification when paying taxes. This number does not apply to you for the purposes of obtaining a home mortgage. However, in the future it may be beneficial to obtain an EIN.
    Without one you cannot:● Protect your personal assets such as your home● Start a business● Set up a retirement account
    Adoption Taxpayer Identification NumberAn Adoption Taxpayer Identification Number is used as a temporary number for a child with adoptive parents who cannot obtain a Social Security Number.
    Preparer Tax Identification Number (PTIN)This is an identification number that a paid tax return preparer uses when preparing U.S. federal tax returns or claims that are to be submitted to the IRS. If you have someone who prepares a substantial portion of your tax return for you and charges you a fee, they must receive a PTIN from the IRS.

  • Can I Apply for a Mortgage with Just My Tax ID (ITIN)?

    Despite what you may have heard, someone without a social security number can in fact own a home. Your Tax ID (ITIN) can be used to apply for a home mortgage, so you can purchase and own a home.
    Now that you have some practical knowledge on the terminology of Tax ID Numbers, let’s jump into the next chapter on how to apply for an Individual Taxpayer Identification Number (ITIN).

Chapter 2 – Receiving a Tax Identification Number (ITIN) 

Now that you understand the basics of what a Tax ID number (ITIN) is, you're ready to learn the first steps to obtaining one! In the journey of obtaining an ITIN loan and owning your dream home, receiving a tax ID number will likely be the most time-consuming and complex part of the process (depending on the real estate market of course!) The application process can take a little over a month (4-6 weeks), but don’t worry, this is actually quite a short processing time for something that involves government papers. This whole process is less painful than going to the DMV, and will be completely worth it at the end of your journey.
Below are just some basic facts you should know before we go through each individual step to obtain an ITIN number.

  • Do you need a social security number to receive an ITIN?

    Whether your end goal is to purchase a home or not, you will not need a social security number to obtain your Individual Tax ID Number! This is why ITIN's are great for non-citizens to purchase homes in America with the help of a trusted lending partner like Prysma Lending Group.
    Residents who do not qualify for social security numbers and wish to obtain an ITIN are able to obtain an ITIN by completing a Form W-7 (as we’ve already discussed) as well as completing supplemental documents that help with the confirmation of being a nonresident in the U.S.

  • The Application Process for Individual TaxPayer Identification Numbers (ITIN)

    To help you obtain your dream home, you’ll need to understand how to apply for your Individual Taxpayer Identification Number (ITIN). To assist you in this process, we’ve broken down each step you’ll need to take in order to obtain your ITIN.
    STEP 1: FIND THE BEST TIME TO APPLYYou can apply for a Tax ID number all year round, however it’s best to file your current year tax return before the April 15th deadline. If the tax return that will accompany your W-7 form (which we will discuss in the next step), is filed after its due date, you may be susceptible to interest/penalties.
    STEP 2: START THE PROCESS First, start by applying through the W7-Form linked below, making sure you attach all of the necessary documents including proof of identification.
    Form W-7, Application for IRS Individual Taxpayer Identification Number
    Acceptable identification documents can include: National Identification Card, Civil Birth Certificate, U.S. Driver’s License, Foreign Driver’s License, U.S. State Identification Card, U.S. Military Identification Card, Visa, Medical Records or School Records.
    STEP 3: MAIL YOUR W-7 FORMOkay, so now what? You finished the form and its time for you to mail it out. Once you mail the form, you must remember to not mail the return to the address listen in the Form 1040, 1040A or 104EZ instructions, because you are filing your tax return as an addition to your ITIN application.
    We know that may sound a bit confusing but no worries, all you have to do is make sure you send your Form W-7, your Tax Return, and proof of identity documents to the address listed on the W-7 Form.
    Need help with your application? If you are in the United States, you can call the IRS toll-free number at 1-800-829-1040. For those outside of the United States, call 267-941-1000 (not a toll-free number).
    STEP 4: RECEIVE YOUR ITINWithin 4-6 weeks you will get a letter from the IRS, giving you a number you are now assigned to, if your application was properly completed and you qualified. Before, there were Individual Tax ID numbers cards given, however the IRS is changing to an authorization letter to avoid mix ups between SSN cards. Those who hold Individual Tax ID number cards do not need to replace them, as they are still valid and should continue to be used.
    The status of you ITIN should definitely be check or questions if it takes more than 6 weeks. Contact 1-800-829-1040 for any questions.
    ADDITIONAL RESOURCESIf none of this cleared up the application process, consider getting assistance from an Acceptance Agent, which is an individual, person, or organization authorized by the IRS there to help people obtain an ITIN . Some may charge a small fee depending on certain agents. They able to review applicant documentation, fill out a certificate of accuracy, and forward that certificate to the IRS for processing. Click to learn more information on Accepted Agents.

Chapter 3 – The Advantages & Disadvantages of Tax ID Loans

Many of us have been taught to create a pros and cons list since we were young, but now we are going to create one for one for Tax ID loans which can assist you in obtaining your dream home. There are many different components we will look at to help you decide if getting an Individual Tax Identification Number is right for you.
Ultimately, in the long run, it can help you obtain a mortgage which is incredibly important. The advantages tend to outway the cons, and with expertise help and assistance from lending groups such as the experts of Prysma Lending group, the disadvantages become easy to handle. However, this developed list will allow you to see both sides of the coin, with both positives and negatives listed about Tax ID loans so you can make a non-bias decision.


We will start out with positives, because let us be real, we always want to hear the good news first.

  • 1. No Social Security Card Needed

    If you are not a United States resident (alien) or if you do not meet certain government requirements for a Social Security number, you are able to still be identified by the government through an Individual tax Identification Number (ITIN). This number will allow you to follow and abide by the U.S tax laws, as well as productively process and account for tax returns and payments for individuals not qualified for Social Security Numbers (SSNs).

  • 2. No Green Card Needed

    Your ITIN allows you take out a Tax ID loan out without showing legal residency in the U.S.

  • 3. Use it to refinance Mortgages

    With a proper ITIN you are able to get a Tax ID loan that allows you to find funds for something once again with a new loan. This is all done by revising an interest rate, payment schedule and terms of a previous credit agreement. Often homeowners tend to refinance mortgages to take advantage of a more beneficial interest rate in which potential savings on debt payment can be created from a brand new refinancing agreement. Owning a home is expensive enough, but if you want to take advantage of the real estate market interest rates, a Tax ID can do that for you.
    Real life example: This often happens in real estate involving mortgages getting refinances due to a change in interest rate environment. As the interest rates for mortgages fall, there is more incentive for homeowners to refinance, as interest rates increase, there is less incentive for refinancing of mortgages to happen.

  • 4. You Can Build Credit with an ITIN

    Building credit has and always be incredibly important in the prosperity of one’s own personal life. You cannot take out large loans such as a mortgage or student loan without good credit. As a non U.S citizen/ foreigner you are able to build up your credit to a good level with the use of an ITIN. This is done by financial institutions, such as Prysma Lending group, verifying your ITIN and making successful transactions such as taxing out a tax ID loan. As you make more and more successful transactions and interactions with financial institutions, the more your credit score will build up. This therefore lets you take out very significant loans such as mortgages even without a SSN but instead the use of ITIN.

  • 5. It is Better than Hard Money Loans

    Hard money, now that may sound confusing to some. A hard money loan is a non-traditional loan made through individuals or investors who lend money based on property used as collateral. They are more concerned with the value of the property used as a “guarantee” of money incase you do not pay your loan. However, these loans are incredibly expensive with double digit interest rates. Tax ID loans are the better route when using your ITIN to obtain a long term loan such as a mortgage. Hard money loans are risky and not as reliable meant for a short term period of time.

  • 6. The Application Process is available online

    The whole process can be done online, all you need is a computer and proper internet access to get one step closer to your dream home. The application process for an ITIN is fairly simple and easy and is easily done by filling out the the called Form W-7. In addition the completion of some supplemental documents that help with the confirmation of being a nonresident in the U.S. are need.

  • 7. Living the American Dream

    The American dream is evidently most people’s dream goal to achieve in life. It is something almost anyone is able to achieve even as a non-U.S Citizen, with the help advantage of obtaining an Individual tax Identification number and getting a Tax ID loan. Through lending groups, a Tax Id loan can help you become a first time home owner.


As great as getting a Tax ID loan is, it is also important to be aware of the disadvantages and take into account your own personal circumstance.

  • 1. Time Contraints

    The process of obtaining an Individual Tax Identification number is quite a simple task through completing the steps on the IRS’s website https://www.irs.gov/forms-pubs/about-form-w7. However it can take up to 4-6 weeks to obtain your official number which can be quite a bit of time if you are in urgent need for an ITIN. Official government forms can be a bit tedious and meticulous to fill out, and the government can refuse to send you an ITIN if there are no misspellings or false information.

  • 2. Higher Interest Rates

    Loans taken out with Individual Tax ID Numbers tend to have high interest rates which should be taken into consideration.

  • 3. Higher Denied Rates

    When applying for anything going through the government, it is important to be aware of rejection. We know, rejection is never a fun word to deal with, but we are putting this in so you are fully aware of what can happen when applying for an ITIN, and how it doesn’t happen to you. In 2013 over 300,000 applications were denied, practically 50% of applications. This is mainly due to the fact that supporting identification documents were not unacceptable and not proper forms of identification. This can be easily avoidable with proper documentation being provided, and if you are unsure, there are many resources and government workers called accepted agents that can assist with any issues.

  • 4. Most Banks are not providing them

    Most banks do not offer Tax ID loans using ITINs so it can become a limited service depending on your location. However, Prysma Lending Group has professionals dedicated to ITINs and Tax ID loans.

  • 5. Higher Down Payment

    When lending loans to illegal immigrants with the use of an ITIN, lenders may require a more expensive down payment due to the risk of deportation even though it may be unlikely.

Overall, when done properly, a Tax ID loan can truly become the most beneficial step you make in your life to further your home ownership dreams.

  • Pro tip: Always make sure every single document and form needed is submitted, with proper error check. One small mistake can cost you another month and half of waiting.

Chapter 4 – What Do I Need to Qualify for an ITIN?

You’ve done your research, made a pros and cons list and are now wondering what the heck do you even need to qualify for an Individual tax ID Number? Well if you have been following the past couple chapters you already have quite a great understanding of what you will need when you actually go to apply. This chapter will make sure you know the essential qualifications so you can recieve your ITIN and succeed at getting your dream home.
We will first begin with what you DO need to have to qualify, and then later tell you exactly what you DO NOT need to get an ITIN.

What you need to qualify for an ITIN

  • 1. Be a Non-Resident

    Any nonresident that has a U.S. source of income would need an ITIN from the IRS to file their United States tax return, as required by law which therefore qualifies you to apply for an ITIN.

  • 2. Have 2 documents as proof of identity and foreign status

    These forms of identity include:
    ● Passport (stand alone document) *● National identification card (must show photo, name, current address, date of birth, and expiration date)● U.S. driver’s license● Civil birth certificate (required for dependents under 18 years of age)● Foreign driver’s license● U.S. state identification card● Foreign voter’s registration card● U.S. military identification card● Foreign military identification card● Visa● U.S. Citizenship and Immigration Services (USCIS) photo identification● Medical records (dependents only – under 6)● School records (dependents only – under 14, under 18 if a student)

  • 3. A fully completed IRS Form W-7 mailed to:

    Internal Revenue ServiceAustin Service CenterITIN OperationP.O. Box 149342Austin, TX 78714-9342w

  • 4. A U.S. federal income tax return filed by the due date

    If the tax return you attach to Form W-7 is filed after the return due date, you may owe interest and/or penalties so make sure you apply before hand to avoid any negative penalties that hurt you qualifying for an ITIN.

What you DO NOT need to qualify for an ITIN

● No credit score is required● No Social Security Number● No green card● No Seasoning Assets Required

Forms or documents that are not considered for an ITIN

● Non legitimate forms of documentation that were listed above.● If identifying documents submitted are not 2 of the many listed above, you risk denial of your ITIN.


You’ve come to the end of our guide thus far, but wait, there’s more! We will be releasing a new chapter every week until we’ve covered everything you need to know about Tax ID loans. Next week, we’ll release Chapter 5 where we will discuss the application process!

Chapter 5 – ITIN Loan Requirements and Application Process

Now that you understand the essentials of securing an ITIN, you're ready to take the next step: applying for an ITIN loan. Compared to the steps taken to acquire your Individual Tax Identification Number, the steps to apply and becoming eligible for an ITIN Loan are much simpler. In no time you will be able to obtain your dream home and retrieve an actual mortgage loan.
Since you've come this far in the guide, you understand step 1 of the process thoroughly: obtaining your ITIN. From there, there are five remaining steps which you can find outlined below:

  • Step 1: Obtain an Individual Tax Identification number (ITIN)

    For more information on obtaining an ITIN loan, please refer to chapter 2 in this Tax ID Mortgage Loan guide.
    But as a quick refresher, an ITIN is a nine-digit number used as a tracking number by the U.S. Internal Service Revenue (IRS) that is used to obtain a loan when one does not have a social security number or green card. Visit chapter 2 to get the full lowdown on how to obtain an ITIN.

  • Step 2: Obtain the Tax ID Mortgage

    Applying for the ITIN Loan itself is simple with a trusted partner like Prysma Lending Group. While you reach out, make sure you gather documentation that can prove the following to your lending partner:
    ● Proof of a sustainable amount of income● Credit history● Income verification
    It is important for many lending groups in the area that you are able to show them financial credibility to make sure you will be reliable and trusted to pay your loan payments. Be sure you pay very close attention to what the loan provider is asking for, as it can differ from place to place you decide to obtain your loan from. Documentation that proves you have outstanding financial qualifications and a good financial standing will be asked from almost every loan provider.

  • Pro tip: As you prepare for obtaining your ITIN loan please keep in mind that most lenders have income requirements that you should prepare for. That means having a substantial initial home investment available as well as proof of sustainable income for a long period of time. ITIN loans tend to have high interest rates, so preparing properly for this financial situation will benefit you in the long run. An ITIN loan down payment can cost as much as 20% of the total value of the house, this high percentage is caused by the potential of deportation that can happen with ITIN holders. Although it is unfair, it is important to be aware of.

  • Step 3: Check off these few requirements

    There are a few prerequisites to obtaining an ITIN loan that you should be aware of.
    ● Build consistent rent history– Showing that you are able to consistently pay off a monthly debt, without any faulty months is even more documentation to lending groups that you are a reliable person. A 2 year rent history is enough time to show this consistency and is another factor that can help you obtain the loan.● Employment History– Having at least a 2 year employment history is also another helpful characteristic you should have to show lending groups when trying to obtain this Tax ID loan.
    If the tax return you attach to Form W-7 is filed after the return due date, you may owe interest and/or penalties so make sure you apply before hand to avoid any negative penalties that hurt you qualifying for an ITIN.

  • Step 4: Find a lending group that will accept ITIN numbers

    With a little bit research, you can find a lending group that will be accommodating to providing ITIN mortgage loans such as the Prysma Lending Group. Once you find a lending group you like and that can get done what you want achieved, you should set up a one-on-one appointment with a lender to get pre-approved for a loan.
    Ready to take your first step towards home ownership? Reach out to Prysma today and start the conversation.

  • Step 5: Enter the Pre Approval Process

    The lender will begin by briefing you on the details of the loan and reviewing your credit history to make sure you understand the terms. This credit history is assessed by looking at your actual credit that can be gained by the use of an ITIN and making successful transactions, or looking at rental records/utility bills.

  • Step 6: Find Your House

    Once you are approved, now it's time to find your family's dream home! Reach out to your lending partner for help, and get in touch with local agents who can show you houses within your price range.

Chapter 6 – Recap & Your Next Steps

The process of obtaining your dream home starts with you. In chapter 1, you learned that obtaining an Individual Tax Identification Number (ITIN) is the first step to obtaining a mortgage and your own home. An ITIN is a nine- digit tracking number that allows you to apply for mortgages without having a social security number or green card.

Unfortunately, not everyone is eligible for an ITIN. In chapter 2 you learned about eligibility requirements and the application process. You need to have the necessary documentation and fulfill all requirements and then submit a completed Form W-7 to the IRS. You may also need to complete other supplemental documents that the IRS requires. After you submit your application, expect 4-6 weeks of wait time. Make sure to consider this wait time if you are hoping to apply for a mortgage in the near future.

Once the long application process wraps up, you are ready to look at potential mortgage applications. But before you do that, chapter 3 listed out the advantages and disadvantages that you will run into with ITIN (Tax ID) mortgage loans.
Some important pros to consider that were listed in chapter 3, are that no Social Security Card, or green card are needed to retrieve an Individual Tax Identification Number. You are also able to use an Individual Tax Identification Number to refinance mortgages, and build credit for future large purchases.

Some disadvantages given were that there are definitely time constraints to obtaining an ITIN, there are high interest rates when taking out a Tax ID loan with an individual tax identification number, and most banks do not provide the ability to take a Tax ID loan with an ITIN. Theses are all very important to go over and review before applying for an Individual Tax Identification Number to ensure the best ITIN experience for you.

As chapter 3 weighed out the pros and cons of you getting an Individual Tax Identification Number, chapter 4 gave you all the qualifications you needed to have to qualify for an Individual Tax Identification Number.

Finally, once you fully qualified for your Individual Tax Identification Number you were able to reference the last chapter, chapter 5 on how to obtain the Tax ID loan itself. A key note was to be able to show your financial credibility to loaning groups with rent history, employment history, or financial documents to show you are a reliable person to lend to.

Congratulations you have made it to the end of the guide where you were able to obtain the knowledge you needed to understand Individual Tax Identification Number mortgage loans and how to make sure the process is stress-free and smooth. We wish you the best of luck in your mortgage future and hope you find yourself prepared enough to start your consultation with a lending group such as Prysma Lending Group who are available to help today.
IRIS ITIN: https://www.irs.gov/individuals/individual-taxpayer-identification-number
Fannie Mae (pdf): https://singlefamily.fanniemae.com/media/7181/display

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