ITIN loans in IdahoAn ITIN loan is a home loan for people who file taxes with an ITIN instead of a Social Security number.

An ITIN, or Individual Taxpayer Identification Number, is a number the IRS issues for federal tax purposes only. If it's the number you file your taxes with, there are lenders who make home loans with it, to buy a home or to refinance one. This page is about those home loans: what they commonly ask, where FHA and conventional loans stand, and what moves the price.

ClearPath doesn't lend, and I'm not the lender on an ITIN loan. I place ITIN loans with lenders who make them, and we can look at whether one fits and decide together. Nothing on this page is my terms or an offer. What lenders commonly ask, below, is what they publish nationally.

FHA

FHA asks for a Social Security number, and an ITIN doesn't stand in for it

HUD's rules for FHA ask each borrower for evidence of a valid Social Security number. They name a few employer exceptions, and an ITIN isn't one of them. That's HUD's rule, not a lender's preference, so an FHA loan isn't the route with an ITIN in place of a Social Security number.

What does open is a different group of loans: the ITIN loans the rest of this page is about, and at some lenders a conventional loan. We can talk through which of them fits your file.

Conventional

A conventional loan, at some lenders

Fannie Mae's guide asks each borrower for a valid Social Security number or an ITIN, along with its legal residency and documentation requirements. Some lenders offer conventional loans with an ITIN on that basis.

Most ITIN loans aren't conventional, though. The Urban Institute found that the companies that buy conventional loans from lenders largely don't buy ITIN loans, so most are made as separate programs, and those are what the next section describes.

What lenders commonly ask

What ITIN loans commonly ask, as starting points

These are what lenders commonly publish nationally. They're where a file starts, not my terms, and each lender sets its own.

Down payments of 10% to 20% of the price are what ITIN programs commonly ask, and some lenders ask more.

For income, lenders commonly ask for two years of tax returns filed under your ITIN. If you work for yourself, some programs read your bank statements instead. Lenders also commonly ask for proof of your ITIN and a government photo ID.

Where a lender uses a credit score, its minimum is set lender by lender. Some lenders take no score at all and look at your record of paying rent, utilities and other bills instead.

The home you'll live in is the usual case, and some lenders go further, to second homes and investment property. Single-family homes, condos and townhomes are commonly eligible. Loan-size limits differ by lender.

Refinancing and equity

Refinancing, and home equity with an ITIN

If you already own your home, lenders commonly publish cash-out refinancing on ITIN loans. The lenders that state a limit cap a cash-out at a smaller share of the home's value than a purchase.

A home equity line or a second mortgage with an ITIN is rarer. Some lenders offer one, and whether one is available for your home is worth a conversation.

The price

ITIN loan interest rates, in words

ITIN loans are generally priced above conventional loans. Where yours lands depends on your credit score or the payment record that stands in for one, your down payment, the size and term of the loan, and whether your income is documented by tax returns or bank statements.

I don't print a rate on this page. The one that counts is the rate in the disclosures on your own file. For loans with a published rate table, see the Idaho rates page.