| Can you buy a home in North Carolina with an ITIN instead of a Social Security number? Yes. ITIN home loans are real, legal mortgage programs for taxpayers who file with an Individual Taxpayer Identification Number. You can own a home here, and plenty of families across western North Carolina already do. A lot of hardworking families in Cleveland and Rutherford counties have paid taxes for years with an ITIN and assumed homeownership was closed to them. It is not. Here is the plain truth about how these loans work. What you need. Most ITIN programs ask for a down payment between 10 and 20 percent. You will need two years of tax returns filed with your ITIN, proof of steady work, and some credit history. No traditional credit score? Many programs accept alternative credit like rent history, utility bills, and phone bills paid on time. What to expect on cost. Rates run higher than a conventional loan, usually one to two points. That is the honest trade. But you build equity in your own home instead of paying your landlord's mortgage, and many families refinance later as their situation changes. Why work with a broker. ITIN programs are offered by a small set of wholesale lenders, and the differences between them are big. Down payment, credit rules, and rates vary a lot. Because Mathewson Mortgage Capital works with more than 50 lenders, we can put your file where it fits best instead of forcing it into the only box one bank has. One warning from the heart. There are people out there who take advantage of families in this situation with seller financing traps and contracts that never build real ownership. A legitimate ITIN mortgage puts the deed in your name. Accept nothing less. Our loan officer Francine Mira serves families across Cleveland and Rutherford counties, and yes, hablamos espanol. Call us and we will tell you exactly what you need and where you stand. La llamada es gratis. |
