ITIN Lending Solutions
RCP Capital Partners specializes in providing solutions for people that have an Individual Tax Identification Number (ITIN) who are looking for a mortgage or want to refinance an existing mortgage.
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Home & Investor Mortgage Loans
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Minimum down payment of 20-25% is required
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Tax returns or bank statements document Income
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Most property types accepted
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Quick closings
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Fixed rate mortgage with 30-year terms
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Purchase or refinance
Benefits of ITIN Lending Solutions
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No Social Security card required
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Traditional credit may not be required
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Rates are better than hard money loans
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Own a home in this country without documentation
What is needed to qualify for an ITIN home loan?
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You must have at least 20-25% down payment depending on credit score
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You need a minimum of a two year work history in the same type of work or self-employed for two years
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Provide pay stubs for the past 30 days
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Self-employed can qualify using bank statements instead of tax returns
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We can also use bank statements for non self-employed borrowers as well (bank statement loan)
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Minimum credit score of 600
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No credit score is also acceptable
What types of properties qualify for an ITIN loan?
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Single family homes
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Condos
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Townhomes
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2-4 unit residential buildings
ITIN Loan for Self-Employed
If you are self-employed, you can get an ITIN loan provided you meet the following conditions: You will need to have been self-employed for at least two years. You may also be an independent contractor who receives a 1099 form. No tax returns are required. You will need to provide 12 months of bank statements that show deposits into your accounts. These deposits (or a portion of them) will be used as proof-of-income on your loan application.