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ITIN Loan Program:

With or Without Credit

Portfolio

Mortgages for recipients of ITIN or alternative SS require specific documentation for each case allowing access to housing.


Home Loans for ITIN recipients are now a reality. This program is geared towards financing for undocumented borrowers living and working in the US with either an ITIN or an alternative SS used to report employment wages.

The ITIN Program serves 2 large groups. The first group would be those applicants with ITIN who are self-employed and use their ITIN to report income earned to the IRS with or without credit. The second group would be those applicants with an alternative SS in addition to their ITINs used to become wage earners thru regular employment and receiving a W-2 at the end of the year.

For those applicants without credit, Clear Lending will help applicants establish credit thru non-traditional trade lines such as car insurance, utilities or even store financed payment experience. The idea is to provide our investors the applicant has enough payment experience demonstrating ability and intention to repay loans and debts over at least 12 or 24 month period.

Home buyers going thru a home loan application process are analyzed thru several variables which will show not only their creditworthiness and ability to repay but also their chances to default on the loan applying for. A number of variables are considered:

- Credit: Credit reports show all creditors payment history and balance information reported to Equifax, Experian and Transunion. These rating companies rank individuals' creditworthiness thru a scoring system ranging from 300 to 850. The lower the worsen and the higher the better credit rating. Most banks and lending companies will not consider anyone with less than 640 scores. Clear Lending can help applicants with 500 scores. The level of outstanding debt showing on credit report will play an important role in determining how much more applicant can get further in debt before personal finances collapse.

- Employment: Employment is another important variable considered when making a credit decision. Employment history is closely related to the applicants' ability to earn wages and thus to pay current bills plus new proposed debt such as a home loan. This is why employment history is verified for at least the previous 2 years from application.

- Income: Analysis of the applicants pay rate is extremely important to determine their most regular and constant earnings month after month. An increasing income trend will indicate home loan buyer can handle new proposed debt.

- Assets: For ITIN applicants trying to become homeowners, how much money they have saved is probably the most important variable. Without the right amount of savings, an application cannot proceed. The percentage needed for a down payment will depend on the complete scenario. For each applicant scenario, a different variable may allow smaller down payment starting with 10% or as high as 20% for those applicants with riskier credit profiles.

General Program Highlights include:

- Applicants buying Primary Residence only.
- Minimum loan $150,000.
- Fixed Loans only.
- No credit OK with non-traditional tradelines.
- No Mobile or Manufactured Homes.
- Mortgage loan to purchase, refinance and/or cash out.
- Financing of up to 90% depending on the scenario.
- Gift funds acceptable after borrower contributes at least 5% of own funds.
- Eligible properties Single Family Residences or Townhouses only.
- Minimum 4 months reserves at closing.

If you want to purchase your dream home, wait no longer and know the amount you are Pre-Approved for.

At Clear Lending, we are driven to help all borrowing needs. Now with the ITIN Loan Program becoming a homeowner for ITIN recipients is easier than ever. Please simply complete our secure encrypted Pre-Approval Form online and we shall review it and get back to you with the best options.

Not all applicants will qualify. This advertisement is not an offer for an extension of credit. Please meet with a licensed loan originator for more information as programs are available only to qualified borrowers. Programs rates, fees, terms, and programs are subject to change without notice. Not all loans, loan sizes, or products may apply. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet loan-to-value requirements, and final credit approval. Approvals are subject to underwriting guidelines and program guidelines and are subject to change without notice. Some restrictions may apply.

Customers Reviews:

  • Beatriz Gonzalez • September 08, 2015

    Buenísimo Loan Officer!!!!!!! SUPER RECOMENDADO, gracias por hacer lo imposible posible; gracias por todo tu tiempo, apoyo y consejos. Excelente persona siempre tratando de ayudar y hacer más fácil el proceso. Siempre al pendiente y tratando de encontrar la mejor opción. La verdad nunca pensé que nos prestaran el dinero para comprar la casa y Joan lo consiguió!!!!!! Gracias por todas tus atenciones. Saludos Beatriz Gonzalez.


  • Luis Ramirez • October 29, 2015

    Joan is an awesome loan officer! Not only has he helped me but also my family and friends I referred him. He literally is available any time you have questions or need him. He makes the home buying/refinance process very stress free. With his professionalism and expertise, he finds a way to get you the house of your dreams. I highly recommend him!

  • Rosbel Castro • January 12, 2019

    Thank you soooo much Joan, Patricia and Samantha for helping us purchase our first home ever. My wife and I are so thankful there are no words to express the joy we feel each time we open the door of our house. I say to my wife… wait is this our house? Then I remember that yes, we just closed few days ago…. LOL. Jokes aside everything you Joan have done for us ever since day one is beyond any words of appreciation. In our case, we truly feel you have been godsent. I still remember the day my wife and I went to Wells Fargo to be told our chances were very limited due to my taxes’ deductions and so we needed to wait 2 possibly 3 years???? My own bank Wells Fargo, Bank of America, Chase, Capital One and God knows how many places we tried. Each one gave us similar reasons but at the end the message was that we didn’t qualify and zero instructions. Well yes, the instructions were that our taxes didn’t reveal the true picture and health of my business operations. Great and now what? Nothing. And so, I stopped searching. Sometime later after talking to a client about my hopeless attempt to buy a house, he told me about a loan officer who showed up from time to time in the radio station offering home loan programs traditional banks would not offer. And so, I started googling until I found Clear Lending. I asked my colleague and bingo! This was the company. And so, I applied online, got a call back very fast, completed an application over the phone, sent income documents and then I was asked to go with my wife at their office. After one hour or so, I was given precise instructions to become a home owner with a government loan program. All I remember was… “If you follow my advice, we will make it happen”. And a year later, Joan got us the house of our dreams, negotiated best deal to cover most closing costs and closed our loan with a 4.25% interest rate when my own was offering me 4.875%???? I am so thankful I found this guy I still cannot believe the miracle he worked for us. Again, thank you Joan and your team for being a true servant and valuable tool to make possible what for me I was told bank after bank to stop searching as it was not possible. I will always refer you absolutely everyone desiring to buy a house. You are indeed the miracle man!!!!

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