top of page

The Power of Good Advice

  • Writer's pictureGabriel Huerta

5 Facts About ITIN Program

Mortgage Documents

5 facts about ITIN number that will help you close more loans

(Non-Citizen Lending)

1. Down Payment as low as 10%

a. If you ask people what is necessary to buy a home with ITIN, most experts will tell you a cash down payment of at least 20% is a key factor. This is old news if you ask us! Although this product is considered a high risk loan, ORM (One Republic Mortgage) will do it with as little as 10% down payment!

b. The beauty of financing your ITIN loan with ORM is the NO PMI advantage. What does that mean for you and your borrowers?

  • Client can be qualified for a higher loan amount with the lower mortgage payment

  • Less money to closing table

2. Self-Employed 12-24 months Bank Statements

Self-employed individuals are typically the hardest borrowers to get financed, because many business owners write off so much of their income, it looks like they’re bringing home next nothing. Clearly this isn’t always the case, but it’s the only thing the underwriters can use to prove income.

With OMR’s amazing ITIN product we only need 12-24 months of bank statements to calculate income, and qualify your borrowers to buy their dream home.

3. Investment Properties​

A common misconception is, because a person has an ITIN, they cannot buy a second home or and investment property. Not the case with ORM, we can finance up to 8 properties including the primary residence.

4. 2-4 units

Income generating properties can be used as income to qualify your clients for a higher purchase price.

5. Easy Identification​

a. Although most borrowers for the ITIN product do not have a state issue ID, we will close with the following identification.

  • Consulate ID

  • Passport from their home country

  • ITIN issue letter



bottom of page