Believe it or not, it is possible to get a mortgage without being a legal citizen. However, legal citizen or not, the mortgage process requires a lot of research and know-how. The following are steps to getting your home if you’re not a legal citizen.
ITIN - What is It?
The first thing you want to do is get an ITIN. This stands for Individual Taxpayer Identification Number and signifies that, even though you do not have a social security number, you are still paying your taxes. This is required for you to get your mortgage.
To get your ITIN, you want to go to irs.gov and fill out their ITIN application
How to Get Your Mortgage with an ITIN
Look as good as you can on paper.
Every lender is different but universally they’ll want to make sure you’re good for the investment. This means having good credit
, rent history, and employment history. If they think you can’t hold a job or pay your bills on time, this will likely get you denied.
Find the right lender.
As with most things real estate, this requires research. You want one that, of course, gives loans with ITINs.
Get pre-approved for your mortgage.
You’re on your way to owning your home!
Look for homes.
You now have an idea of your price range, so go and find the right fit!
There is hope for non-U.S. citizens to own a home in the U.S. If you can make a clear case that you have a track record of being an upstanding, tax-paying, job-holding, high-credit-score-having person, you should be well on your way to a mortgage.
For more information and examples of lenders that will work with your ITIN, check out Stilt’s Guide to ITIN Home Loans
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