ITIN Loans in Missouri

Are you shopping for a home in Kansas City or elsewhere in Missouri as an undocumented immigrant?

You can purchase a home without a Social Security number using a special product called an ITIN loan, or “Home Opportunity Loan.”

What are ITIN Loans?

With an ITIN loan, you can apply for a mortgage using your Individual Tax Identification Number (ITIN).

At no point during the application process is a Social Security number required.

An ITIN can be issued to a U.S. resident alien or no-resident alien that files a tax return and is not eligible for a Social Security Number. An ITIN can also be issued to dependents/or spouses of a U.S. citizen or residents alien.

Individual Tax Identification Number (ITIN) loans are a unique kind of loan that gives individuals who may not have the traditional documents needed for a mortgage, a chance at homeownership.

Requirements

• Income Documents
  • If Self-Employed, last 2 years of Tax Returns
  • If W-2 Employed, last 2 years of W-2s and last 30 days of Paystubs.
• Most Recent 2 Months Bank Statements
• An Official Picture ID
  • This can even be a passport from the individuals native country
• ITIN Letter
• Completed Application

What We Offer

• Credits + Down Payments
  • zero credit scores, minimum of 25% down
    • must be a true 0 score, cannot have low credit below 660
  • 660-699 Credit Scores, Minimum of 20% down
  • 700+ Credit Score , Minimum of 15% down
• Cash Deposits Can Be Ok With A 20% Down Payment
• Expired ID’s Folow The Same Requirements Above
• Debt-To-Income Can Go Up To 55%
  • Most ITIN lenders are capped at 43%
• Bank Stament ITIN Loans
  • Minimun 25% down payment

Missouri ITIN Loan Benefits

• You do not need to verify your US residency.
• You do not need a Social Security card.
• This is a fixed rate mortgage product.
• Depending on your situation, it may be possible to qualify for a loan without a credit score.
• You can apply for this type of loan if you are an employee or if you are self-employed.
• You can use this type of mortgage to purchase a primary residence, second home or investment property.

Eligible types of properties include single family homes, manufactured homes, townhomes, one-unit attached/detached PUDs, and condos.

Do You Qualify for an ITIN Loan?

In order to be eligible for an ITIN loan, you must meet the following basic requirements:

• You must have an ITIN number.
• The minimum credit score (if you have a score) is 620. There’s also “No Credit Score” financing which requires just a 25% down payment.
• You must be able to verify two year of stable employment (or self-employment). You will need to provide a written VOE to document your income.
• The maximum debt-to-income (DTI) ratio is 43%, but we do have options where we can go to 55% DTI with compensating factors. 
• The maximum LTV is 90%, so the minimum down payment is 10% for some areas and 15% for other areas. Keep in mind your credit score and other individual factors may affect your minimum down payment.

If you are ready to move into your dream home in Kansas City, Missouri and beyond, you can do so now without a Social Security card. To find out more about ITIN loans or to apply for an ITIN loan in Missouri now, please call (816) 631-9687. We can offer personalized tips that can assist you through the application process.