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ITIN Loans

Welcome to Florida Home Loans by Atlantic Mortgage & Finance Corp’s ITIN Loan Program, specifically designed for individuals holding an Individual Taxpayer Identification Number (ITIN). We are committed to helping ITIN holders achieve homeownership with a range of tailored mortgage solutions.

What is an ITIN Loan?

An ITIN (Individual Taxpayer Identification Number) loan is a financing solution designed specifically for individuals who do not have a Social Security Number (SSN) but possess an ITIN and wish to purchase a home in the United States. This type of loan caters to non-U.S. citizens, including immigrants and foreign nationals working or living in the U.S., providing them with a pathway to homeownership despite the lack of traditional U.S. documentation.

What are the Benefits of a ITIN Loan?

  • Homeownership Access: ITIN loans provide a crucial financial tool for individuals without an SSN to achieve homeownership, contributing to community stability and personal wealth building.
  • Financial Inclusion: By accommodating non-traditional credit histories and documentation, ITIN loans promote financial inclusion for underserved populations.
  • Investment Opportunity: For foreign nationals and immigrants, these loans offer an opportunity to invest in the U.S. real estate market, potentially leading to significant personal and financial growth.

What are Key Features of a ITIN Loan?

  • Eligibility: Aimed at borrowers with an ITIN instead of an SSN. Applicants must demonstrate their ability to repay the loan, typically through proof of income, employment, and credit history.
  • Credit Assessment: Since many applicants may not have a conventional U.S. credit history, lenders might consider alternative credit data, including rent, utility payments, and bank statements, to evaluate creditworthiness.
  • Down Payment: ITIN loans may require a higher down payment compared to standard mortgage loans. The exact amount can vary depending on the lender’s policies and the borrower’s financial situation.
  • Interest Rates: The interest rates for ITIN loans might be higher than those for traditional loans, reflecting the lender’s perceived risk. However, terms and rates can vary widely among lenders.
  • Property Types: Borrowers can use ITIN loans to purchase various types of properties, including single-family homes, condominiums, and multifamily units. These loans can facilitate primary residences or investment properties.

Steps to Apply for a ITIN Loan.

  • Initial Consultation: Discuss your property goals and financial situation with our experts.
  • Document Submission: Provide necessary personal and financial documents for review.
  • Loan Processing and Review: We process your application, assessing it against our ITIN loan criteria.
  • Finalization and Closing: Once approved, we assist you in finalizing the loan and closing the deal.

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Why Choose Us?

With our extensive 20 plus years of experience in mortgage financing, we excel in delivering both conventional and non-conventional financing options tailored to suit our customers’ needs. Collaborating with a wide range of investors and lenders, we proudly offer a diverse range of loan programs. Our utmost aim is to provide borrowers with the most optimal financing solutions available.

Contact us to learn more or get started today!

Begin your mortgage process!