Non-Qualified Mortgage
Non-QM (Non-Qualified Mortgage) ITIN loans allow borrowers who lack a Social Security Number to purchase or refinance homes using an Individual Taxpayer Identification Number. These loans utilize alternative documentation like bank statements and ITIN letters to verify income and credit history.
- Income Verification: Lenders accept alternative documentation such as 1099s, profit and loss statements, 12 to 24 months of personal or business bank statements, or written Verification of Employment (VOE).
- Credit History: Instead of traditional credit scores, lenders may look at alternative credit references like rent payments, utility bills, or auto loan histories over the past 12 months.
- Down Payments: Typically, non-QM ITIN loans require a higher down payment compared to conventional loans, usually ranging from 10% to 20%.
- Interest Rates: Because these loans carry more risk for the lender, interest rates are generally higher than standard conforming mortgages
I Make it Simple
Our interactive App helps guide you through the many parts of the home buying journey and your mortgage financing. The App helps keep you, your loan officer, and realtor connected and in sync with each other. It helps all of us work together to make the process smooth and easy.
I Make it Simple
Our interactive App helps guide you through the many parts of the home buying journey and your mortgage financing. The App helps keep you, your loan officer, and realtor connected and in sync with each other. It helps all of us work together to make the process smooth and easy.