Florida ITIN Loans
ITIN loans are designed for borrowers who do not have a Social Security number but do have a valid Individual Taxpayer Identification Number (ITIN). These programs allow qualified Florida residents or investors to purchase or refinance property using alternative documentation.
ITIN loans are commonly used by non-citizens, foreign-born residents, and long-term Florida residents who file U.S. taxes using an ITIN.
What Is an ITIN Mortgage Loan?
An ITIN mortgage loan is a non-QM financing option that allows borrowers to qualify using an ITIN instead of a Social Security number. These loans are not government-backed and are offered through private lenders.
Borrowers must demonstrate lawful income, tax filing history, and the ability to repay the loan, even without traditional credit or citizenship status.
Who ITIN Loans Are Best For
ITIN loans are often a strong fit for:
Borrowers without a Social Security number
Florida residents who file taxes using an ITIN
Non-citizens with established U.S. income
Borrowers with limited or alternative credit history
Buyers seeking a path to homeownership without traditional documentation
These loans may be used for primary residences and, in some cases, second homes or investment properties depending on the program.
Down Payment Options and Mortgage Insurance
ITIN loans typically require higher down payments than conventional or government-backed loans. Down payment requirements vary based on credit profile, occupancy type, and overall borrower strength.
Mortgage insurance is generally not required, which can simplify monthly payments and long-term planning.
Larger down payments and stronger documentation may result in improved loan terms.
Credit, Income, and Qualification Guidelines
Qualification for ITIN loans focuses on stability and documentation rather than citizenship status.
Credit: Some programs accept alternative credit histories such as rent or utility payments
Income: Borrowers must document lawful income and tax filing history using an ITIN
Documentation: Requirements vary by program and may include bank statements or tax returns
Each ITIN loan is structured based on the borrower’s unique profile.
ITIN Loans for Purchase and Refinance
ITIN loans may be used for:
Home purchases
Rate and term refinances
Cash-out refinances (subject to program limits)
Eligible occupancy types and refinance options vary depending on the lender and loan structure.
Seller Concessions
Seller concessions may be allowed on ITIN loan purchase transactions, depending on program guidelines and market conditions. When permitted, concessions can help offset closing costs and prepaid expenses.
Limits vary based on property type and loan parameters.
How ITIN Loans Compare to Other Programs
ITIN loans are often compared to:
Conventional loans requiring a Social Security number
FHA loans with citizenship or residency requirements
Bank statement or P&L loans
Foreign national mortgage programs
Each option serves a different borrower profile, and choosing the correct structure is critical.
Talk With a Florida Mortgage Professional
ITIN loans require careful structuring to ensure documentation aligns with lender requirements and long-term goals.
Speaking with a Florida mortgage professional helps determine eligibility, documentation needs, and the most effective loan strategy.
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