Immigrants can be very good for housing
California is home to an estimated 2.6-2.8 million undocumented immigrants. Together, they comprise approximately 7% of California’s total population. Many of these individuals believe the doors to homeownership are closed to them, even after years of living, working and paying taxes in this state.
A meager 17% (442,000) of undocumented immigrants are homeowners, according to the National Association of Hispanic Real Estate Professionals (NAHREP). This is much lower than the average 54% homeownership rate in California. Bringing this 17% homeownership rate for undocumented immigrants up to the state’s average homeownership rate translates to an additional one million homeowners.
However, undocumented immigrants seldom have giant piles of cash lying around, so they (like most homebuyers) are reliant on obtaining a mortgage. Fortunately for California’s housing market, undocumented immigrants — and all individuals without a social security number (SSN) — can still become homeowners if they have an Individual Tax Identification Number (ITIN).
According to anecdotal evidence from various banks that offer ITIN mortgages, these mortgages perform better than traditional mortgages, with lower default rates. Obtaining an ITIN mortgage is often more difficult than obtaining a traditional mortgage, thus, only those with exceptional financial qualifications and an extraordinary willingness to go the extra mile to own a home end up taking out ITIN mortgages.
Editor’s note — Statistics on the undocumented immigrant population, homeownership rates amongst undocumented immigrants and ITIN mortgages are often estimates, as many undocumented individuals and the banks that serve them are unwilling to provide data in order to protect themselves from possible deportation.
Where can buyers take out ITIN mortgages?
Not all lenders offer ITIN mortgages, and some who do screen homebuyers for legal status. Probably the biggest reason for this is because Fannie Mae and Freddie Mac won’t purchase mortgages taken out by undocumented immigrants. Thus, the threat of default for ITIN mortgages often lies squarely with the bank that originates the loan.
All the same, when your potential homebuyer lacks an SSN there are still a few ways to find them a mortgage.
Citigroup partners with the Neighborhood Assistance Corporation of America (NACA) to provide ITIN mortgages on a national scale, making it the only major bank to do so. Their California offices are located in Oakland and Los Angeles. Wells Fargo has considered returning to the ITIN mortgage business (it used to offer ITIN mortgages in California during the years leading up to the Great Recession).
There are a few other national banks that lend to ITIN homebuyers, but these are often hard money lenders, offering loan terms as short as a single year with inflated interest rates. The Scotsman Guide provides a list of such lenders.
But for the most part, ITIN mortgages with more reasonable terms can be found through small community banks and credit unions. Even then, expect these mortgage rates to be slightly higher than the average mortgage rate. Since the bank can’t sell the mortgage to Fannie Mae or Freddie Mac, a higher risk premium is warranted. Some banks will also require larger down payments to demonstrate more skin in the game.
Have you had experience assisting a homebuyer with an ITIN mortgage? Share your experience with other readers in the comments below.
Attention toda persona Que tenga un Numero de ITIN Si ustedes quieren comprar casa con el numero de ITIN yo tengo Un prestamista que juntos les podemos ayudar aque su Suenos se aga Realidad llamen al 760 978-9546. Estamos aqui para tratar de ayudarles aqui en California 760 978-9546.
Attention All California ITIN Home Buyer’s if are in need of a Realtor that works with a lender that does Loans for ITIN Buyers in California please feel free to reach out to me.
My name is Ernesto Gonzalez, I work all of California. 760 978-9546
Let’s work in helping you achieve the American Dream that you have been wanting to achieve.
Hola, me llamo sergio. Solo tengo itin number, pero estoy realmente interesado en comprar una casa, puedo dar hasta el 30% de down payment, tengo 7 anios trabajando en la misma empresa, tengo muy buen salario, honestamente nunca he sacado nada a credito, asi que no tengo score de credito actualmente ( pero lo hare para poder obtener mi casa). Vivo en San Marcos CA 92069. Me gustaria encontrar una casa aqui en esta area o por lo menos cerca de aqui. Espero que alguien pueda ayudarme. Gracias.
Llame al 760 978-9546 y pregunte por Ernesto
hola me interasa comprar casa en el area de pescadero ca pero solo tengo ittin # mi credito tambien esta bueno alguien que me pueda ayudar porfavor
760 978-9546
Buenos dias Sergio si todavia no esta trabajando con un Realtor por favor llame me soy Realtor in Carlsbad, Ca 760 978-9546 pregunte por Ernesto.
Sergio yo le puedo ayudar a que uste sea Dueno De Casa si esta listo soy Realtor aqui en El condado de San Diego. 760 978-9546.
Sergio si usted todavia esta buscando a algen Que lo ayude en comprar casa por favor llame me al 760 978-9546. Yo tengo Un prestamista que le puede ayudar a usted y a muchas mas personas que quieran y puedan comprar con un numero de ITIN. Ernesto Gonzalez 760 978-9546
Anyone in California looking for an ITIN home loan should give us a call 707 836 3456. We have a couple different sources for these loans.
Here my contact info:
NMLS ID#1512458
Phone: 707-836-3456
E-mail: fpeavey@bayeq.com
Social security number is the most important subject for security every home. So everyone should be give more important about this subject. I trust the site to help man.
Hello, I’m a licensed loan originator in California with SecurityNational Mortgage Co. – NMLS 3116.
We are listed as Top 50 Mortgage Bank on Scotsman Guide. http://www.snmc.com
I am licensed to originate ITIN loans for applicant’s in California.
70% loan to value (for ITIN’s with credit scores)
65% loan to value for (ITIN’s with no credit score)
Please feel free to reach out to me at lawrence.guerrero@snmc.com – NMLS 655573
Hello, i have a friend who wants to purchase a 46k mobile home she has itin her husband has itin and her son has ssn they want to know if there is someone who can help to buy this home? Is in illinois
Hola tengo una amiga que quiere comprar una mobile home de 46k, ellos tienen itin number y su hijo tiene ssn, quieren ver si hay algun banco que les ayude? Es en Illinois
Buenos dias si su amiga todavia no a comprado casa en Illinois por favor llame me al 760 978-9546. Pregunte por Ernesto.
My mom can’t afford here home any more. Her interest rate is too high and would like to refinance but her bank Wells Fargo won’t help her out because she only has an ITiN number.
She wants to use me to refinance her home but I told her I couldn’t do that because I’m only 24 and me doing that would affect me and my future plans.
How can I help her ?
We live in Fresno , CA
You can still help her if you can qualify for a loan. By the time you are ready to purchase your own home, you will still qualify as it will be your primary residence. Any questions call me, I’m a realtor (559) 286-5074
Hi. Iris Aguilar. My partner has itin only . I have SS but unemployed. He is the main household. He works at a dairy. Call me or email me 5596231904
You can help her and once she pays the payment for a year and you are able to document that your not the payee it won’t affect your qualification.
Hi Ernesto my name is Ernesto Gonzalez please call me maybe my itin lender can help your mom to try to refi 760 978-9546.
Good morning if your mom still hasn’t refi her house please call me at 760 978-9546. I have someone that can assist her so she can hopefully refinance her house.
760 978-9546 ask for me Ernesto
I can fund ITIN loans in Texas with 20-30% down under my hard money loan program, we are the direct lender and I underwrite all the loans.
call me 832-214-7030
Leonela Chavarria (hablo Español)
Loan Originator
NMLS 224658
if you do not have a TIN or social security number you can still qualify as long as your can prove the ability to repay the mortgage: 2 yrs of employment history and good probability of continued employment
Hi Leonela
Can you do a home loan in california for persons that has a ITIN# PLS advice I’m a Real estate agent in Ca,
sandraugalderealtor@yahoo.com
Leonela. Where at in califirnia. My partner does have SS .BUT UNEMPLOYED NOW. I HAVE AN ITIN ONLY. HER CREDIT SCORE IS ABOUT 620. WHAT CAN WEDO. THANKS. WE LIVE IN CALIFORNIA. MY NUMBER IS 5596231904
Hi Mari call me iI’m a Realtor in California let’s talk to my itin lender and try to find the solution to your needs and goals. My name is Ernesto my number is 760 978-9546.
Hola Leonela queria saber si ofrecen prestamos para el estado de conneticut por favor dejame saber gracias
Roberto como esta si uste todavia no a comprado casa por favor llame me al 760 978-9546. Yo soy Realtor talves yo le puedo ayudar si gusta y si algun uste no a comprado en su estado.
Muchas Gracias
Ernesto Gonzalez
Any lenders that offer ITIN Loans please let me know. I am a Realtor in California. I have clients who would like to buy with their itin.
Hello, Yes! I do ITIN loans the requirements are 660 Fico score plus 4 trade-lines and 20% Down. L.I.G. Lending NMLS# 1392737
Hello Ruben, I am after an ITIN loan, may I give you a call please or you can call me on 248 716 4646 any time. I am ready to go. Thank you. Talk soon. Always Grateful. Giuseppe.
Hi are you looking to buy with an itin my lender might be able to assist you I’m a Realtor in California. My number is 760 978-9546 ask for me Ernesto
Hello Ruben, what is your number, may I call you, I am after and ITIN loan. Or you may call me on 248 716 4646 anytime. I am ready to go. Thank you. Always Grateful. Giuseppe.
Hi ruben I wounder if you still doing a home loans with the ITIN #? I’m a raltorin Ca, sandraugalderealtor@yahoo.com
Hola yo vivo en Baton Rouge LA alguien sabe quien hace préstamo con el número ITIN, para comprar casa, en Baton Rouge LA
I am living in Baton Rouge LA Please help me get itin mortgage loan.
Hola Geovana, soy un agente inmobiliario en Louisiana. Yo trabajo con un banco que te puede ayudar.
I am a Realtor in Utah and am looking for ITIN programs. Please let me know if you have any information.
801-358-4901
I’m a realtor in conecticutt and know many families who could benifit with ITINs loans. Please contact me with any information.
HI I live in the state if Indiana and I would like to see if you can help me get a home loan with out a SSN I only have the ITIN Number.