ITIN loans are designed for borrowers who do not have a Social Security number but can demonstrate their ability to repay a mortgage using an Individual Taxpayer Identification Number (ITIN). These borrowers are often overlooked by traditional lenders, making ITIN loans an important niche in the non-QM space.
As a mortgage broker, offering ITIN loans can be a powerful way to serve a wider client base while standing out in your market. Only brokers working with wholesale lenders typically have access to these products, which aren’t offered through retail channels.
For more background on these loans, see our deep dive: ITIN Loans: How to Help Foreign National Borrowers. You can also check out our guides to top dscr lenders and top asset depletion lenders for other non-QM lending opportunities.
Real-World Borrower Scenarios
These examples illustrate the types of clients who may benefit from ITIN loans, particularly when traditional mortgage products aren’t a fit.
The long-time U.S. resident looking to purchase a primary home
A borrower who has lived and worked in the U.S. for over 10 years files taxes with an ITIN. They have strong credit, consistent income, and a significant down payment.
Why ITIN is a good fit: Traditional lenders may turn them away due to lack of a Social Security number, but ITIN loans allow them to qualify based on verified documentation and tax filings.
The self-employed immigrant business owner
A borrower runs a successful cash-based business and has bank statements and P&L statements to show income but no W-2s.
Why ITIN is a good fit: This borrower may be a match for a bank statement ITIN loan or P&L-based program, available only through select wholesale lenders.
Top Lenders Offering ITIN Loans Through Morty
| Lender | Website | Highlights |
|---|---|---|
| NewFi | newfiwholesale.com | Flexible programs including ITIN and graduated payment options. |
| BluePoint | bluepointmtg.com | Broad non-QM access, including ITIN and 12-month bank statements. |
| Champion Funding | championwholesale.com | Offers ITIN loans, no-ratio, and foreign national programs. |
| PRMG | prmg.net | Offers ITIN loans with flexible overlays and document options. |
| Orion | orionlending.com | Full non-QM suite including ITIN, P&L, and asset depletion options. |
What Underwriters Look for in ITIN Loans
While programs vary by lender, here are typical components ITIN underwriters evaluate:
- Valid ITIN documentation
- 2+ years of U.S. tax filing history
- Proof of income (W-2s, 1099s, P&L, or bank statements)
- Credit profile and tradelines
- Verifiable down payment and reserves
Because ITIN borrowers often fall outside of traditional profiles, lenders place extra emphasis on documentation quality, consistent payment history, and stable income sources.
Why Brokers Are Best Positioned to Offer ITIN Loans
Retail lenders and large banks typically do not offer ITIN loans due to their complexity and non-standard nature. Brokers, on the other hand, have access to a broader network of wholesale lenders and the flexibility to match borrowers to more creative and inclusive loan programs.
Brokers can also guide clients through the nuances of income documentation and credit alternatives, helping ITIN borrowers qualify with confidence.
FAQ
Do ITIN borrowers need a U.S. credit score?
Not always. Many lenders allow for alternative credit documentation or international credit reports if no U.S. score exists.
Can ITIN loans be used for investment properties?
Some lenders allow it, but many ITIN loan programs are limited to primary residences.
What kind of income documentation is required?
W-2, 1099, bank statements, or P&L statements depending on the lender and program.
Morty Advantage for ITIN Loans
With Morty, brokers can:
- Access multiple ITIN-friendly lenders through a single platform
- Use our Loan Origination System and Point-of-Sale to manage applications
- Leverage Processing & Fulfillment to streamline documentation
- Use Rosey AI to determine ITIN loan eligibility fast
Interested in offering ITIN loans? Talk to sales to get started.
