Cardinal Mortgage Offers Mortgage Solutions for Borrowers without Social Security Numbers that traditional banks and mortgage lenders do not provide!
ITIN Home Loans
ITIN Borrowers are people without social security numbers. Our ITIN Mortgage program is for people with an Individual Tax Identification Number, for properties located in New York, New Jersey or Connecticut.
- Neither citizenship nor a social security number are required to apply for an ITIN Home Loan.
- Purchases, Rate and Term Refinances and “Cash Out” Refinances are available.
- Property Types: Primary, Owner Occupied, Single Family, 2-4 Family Homes, Condominiums, PUDs and Coops. Second / Vacation Homes are also available.
- Loan amounts up to $1.0 Million.
- Fixed rates available with terms of 30, 25, 20 and 15 years.
- 80% LTV (Loan to Value) on Purchases and Rate and Term Refinances.
- 75% LTV (Loan to Value) on Cash Out Refinances.
- Two years of employment history is required.
- Preferred credit scores are 680 and above, however, programs are available for credit scores as low as 600.
- ITIN Mortgage Applicants need proof of ITIN & Photo ID.
- “New” – Now offering Lite Documentation options for ITIN borrowers:
- Self Employed and Salaried (Wage Earner) Borrowers Eligible.
- No Tax Returns, W2 Statements or Paystubs Required.
- Interest Only Feature Available (Save Hundreds per Month on Payment).
- 75% LTV (Loan to Value) on Purchases and Rate and Term Refinances.
- 70% LTV (Loan to Value) on Cash Out Refinances.
- Self Employed Documentation Required:
- Self Employed at least one year and same line of work for at least two years.
- Employment and Income is stated on the application.
- Business License / Certification / Credentials to be provided.
- 12 Month, Profit and Loss Statement, signed by the borrower.
- CPA, Accountant or Tax Preparer Letter verifying the following:
- Business Inception Date.
- Borrower’s Position and Percent Ownership.
- Letter must be on the Professional’s Letterhead, signed and dated.
- Letter must include the Professional’s License or PTIN.
- License or PTIN must be verifiable by the state.
- Wage Earner Documentation Required:
- Employment and Income is stated on the application.
- WVOE (Written Verification of Employment) sent by lender.
- WVOE must verify two years of employment, but only one year of income.
- Validity check on the employer will be performed by the Lender.
