ITIN, DACA, and TPS Status Loans

ITIN, DACA, and TPS Loans are mortgage options available for non-U.S. citizens who may not have a Social Security Number (SSN) or permanent residency but still wish to purchase or refinance a home in the U.S. These loan programs provide opportunities for individuals with Individual Taxpayer Identification Numbers (ITINs), Deferred Action for Childhood Arrivals (DACA) status, or Temporary Protected Status (TPS) to become homeowners.

Who Can Benefit from These Loans?

✅ ITIN Holders – Non-citizens without an SSN who file taxes using an ITIN.
✅ DACA Recipients – Individuals under the Deferred Action for Childhood Arrivals program.
✅ TPS Holders – Individuals granted Temporary Protected Status due to conditions in their home country.
✅ Self-Employed & W-2 Employees – Borrowers with stable income and employment.
✅ Non-Permanent Residents – Foreign nationals legally living and working in the U.S.

Key Features of ITIN, DACA, and TPS Loans

✔ No U.S. Citizenship Required – Available for non-citizens with legal work authorization.
✔ Alternative Credit Considered – Some lenders accept rental history, utility bills, or bank statements if traditional credit is unavailable.
✔ Available for Home Purchase & Refinancing – Typically for primary residences (some lenders allow investment properties).
✔ Low Down Payment Options –

• FHA Loans: As low as 3.5% down (for DACA and TPS holders).
• Conventional Loans: Typically 5-20% down.
• ITIN Loans: Require 15-25% down due to higher lending risk.
  ✔ Flexible Income Documentation – Accepts W-2s, tax returns, or bank statements (if self-employed).

Typical Requirements for ITIN, DACA, and TPS Loans

📌 Valid ITIN, DACA, or TPS Status – Proof of eligibility, including an Employment Authorization Document (EAD) for DACA/TPS holders.
📌 Credit Score –

• ITIN Loans: May require 620+ (some lenders accept no credit score).
• DACA/TPS Loans: FHA (580+), Conventional (620+).
  📌 Proof of Income – W-2s, tax returns, or bank statements (if self-employed).
  📌 Debt-to-Income (DTI) Ratio – Usually below 43-50% for approval.
  📌 Down Payment – 3.5% (FHA), 5-20% (Conventional), 15-25% (ITIN Loans).
  📌 Social Security Number (SSN) – Required for DACA/TPS; ITIN accepted for ITIN Loans.

What is an ITIN Loan?

An ITIN (Individual Taxpayer Identification Number) Loan is a mortgage option designed for non-U.S. citizens who do not have a Social Security Number (SSN) but have an ITIN issued by the IRS. These loans help foreign nationals, immigrants, and undocumented workers purchase homes in the U.S. without requiring a traditional SSN.

Who Can Benefit from an ITIN Loan?

✅ Non-U.S. Citizens without a Social Security Number (SSN).
✅ Undocumented Workers who file taxes using an ITIN.
✅ Self-Employed Individuals using ITIN for business purposes.
✅ Foreign Nationals Living in the U.S..
✅ Immigrants Building Credit and Seeking Homeownership.

Key Features of ITIN Loans

✔ No SSN Required – Applicants can use their ITIN instead of an SSN.
✔ Alternative Credit Options – Lenders may accept rental history, utility bills, or bank statements as proof of financial responsibility.
✔ Flexible Employment & Income Verification – Self-employed borrowers can qualify using bank statements instead of tax returns.
✔ Available for Home Purchases & Refinancing – Can be used for primary residences (some lenders also allow investment properties).
✔ Higher Down Payment Requirements – Typically 15-25% down due to increased lending risk.

Typical Requirements for an ITIN Loan

📌 Valid ITIN Number – Provided by the IRS.
📌 Government-Issued ID or Passport – To verify identity.
📌 Proof of Income – Can be W-2s, bank statements, or self-employment records.
📌 Credit History (If Available) – Some lenders accept alternative credit history (rent, utilities, or phone bills).
📌 Down Payment of 15-25% – Amount varies based on credit profile and lender requirements.
📌 Debt-to-Income (DTI) Ratio Below 43-50% – Standard mortgage qualification rule.

What is a DACA Loan?

A DACA Loan is a mortgage program designed for Deferred Action for Childhood Arrivals (DACA) recipients, allowing them to buy a home in the U.S. even though they are not U.S. citizens or permanent residents. These loans recognize DACA recipients as lawful residents and provide them with access to financing options similar to those available for other borrowers.

Who Can Benefit from a DACA Loan?

✅ DACA Recipients who have a valid Employment Authorization Document (EAD).
✅ Individuals without U.S. Citizenship or Permanent Residency.
✅ DACA Borrowers Seeking Homeownership.
✅ Self-Employed or W-2 Income Earners with valid work authorization.

Key Features of DACA Loans

✔ Eligible for Conventional & FHA Loans – Some lenders allow Fannie Mae, Freddie Mac, and FHA financing.
✔ Valid Work Authorization Required – Must have a current Employment Authorization Document (EAD – C33 Category).
✔ Flexible Loan Options – Available for primary residences (not investment properties).
✔ Competitive Interest Rates – Based on credit score, income, and down payment.
✔ Low Down Payment Options – FHA loans allow as little as 3.5% down, while conventional loans may require 5-20%.

Typical Requirements for a DACA Loan

📌 Valid DACA Status & Work Authorization (EAD Card) – Must provide an unexpired Employment Authorization Document (Category C33).
📌 Credit Score (Typically 620+ for Conventional, 580+ for FHA) – Higher scores get better rates.
📌 Proof of Income – Can include W-2s, tax returns, pay stubs, or bank statements (if self-employed).
📌 Debt-to-Income (DTI) Ratio – Should be below 50% for most programs.
📌 Down Payment – FHA: 3.5%, Conventional: 5-20%.
📌 Social Security Number (SSN) – Required for most loan programs.

What is a TPS Loan?

A TPS (Temporary Protected Status) Loan is a mortgage program designed for individuals with Temporary Protected Status (TPS) who want to buy a home in the U.S. Despite having non-permanent residency, TPS holders can qualify for mortgage loans as long as they meet certain lender requirements.

Who Can Benefit from a TPS Loan?

✅ TPS Holders with valid immigration status.
✅ Non-U.S. Citizens looking to purchase a home.
✅ Borrowers with a steady income and credit history.
✅ Individuals with W-2 income or self-employed borrowers with proof of income.

Key Features of TPS Loans

✔ Eligible for FHA, Conventional, and Some Other Loan Programs – Many lenders recognize TPS holders as lawful residents.
✔ Valid Work Authorization Required – Must have an unexpired Employment Authorization Document (EAD).
✔ Low Down Payment Options – FHA loans allow 3.5% down, and conventional loans may require 5-20% down.
✔ Competitive Interest Rates – Similar to loans for permanent residents and citizens.
✔ Must Be for a Primary Residence – Investment properties typically do not qualify.

Typical Requirements for a TPS Loan

📌 Valid TPS Status & Work Authorization – Must provide an unexpired Employment Authorization Document (EAD).
📌 Credit Score Requirement – Typically 580+ for FHA, 620+ for Conventional loans.
📌 Proof of Income – W-2s, tax returns, pay stubs, or bank statements (if self-employed).
📌 Debt-to-Income (DTI) Ratio – Usually below 50% for approval.
📌 Down Payment – FHA: 3.5%, Conventional: 5-20%.
📌 Social Security Number (SSN) – Usually required for most lenders.