9 Best Mortgage Lenders for ITIN Loans

Last updated on August 1, 2024
Written by 
Barbara Marquand
Senior Writer
Johanna Arnone
Edited by 
Johanna Arnone
Assigning Editor
Fact Checked
Barbara Marquand
Written by 
Senior Writer
Johanna Arnone
Edited by 
Johanna Arnone
Assigning Editor
Fact Checked

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9 Best Mortgage Lenders for ITIN Loans

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Lender
NerdWallet Rating
Min. credit score
Min. down payment
Learn more
Rate

Rate: NMLS#2611

Top 3 most visited 🏆
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at Rate
at Rate
Home loans overall
Best for first-time home buyers

620

3%

Flagstar

Flagstar: NMLS#417490

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5.0
/5
Home loans overall
Best for mortgage lending overall

N/A

5%

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on NerdWallet
New American Funding

New American Funding: NMLS#6606

4.0
/5
Home loans overall
Best for first-time home buyers

580

3%

State Employees' Credit Union

State Employees' Credit Union: NMLS#430055

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on NerdWallet
5.0
/5
Home loans overall
Best for credit union lending

N/A

0%

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on NerdWallet
Guild Mortgage

Guild Mortgage: NMLS#3274

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on NerdWallet
4.0
/5
Home loans overall
Best for customer satisfaction

N/A

3%

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on NerdWallet
Rate
Learn more
at Rate
at Rate
Rate

Rate: NMLS#2611

5.0
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItRate boasts a streamlined application process, with full underwriting in as little as one business day, though average fees are higher than many competitors’.
Pros
  • Fully underwritten mortgage approval in as little as one day for qualified borrowers.
  • Generous selection of loans, including government-backed, interest-only, jumbo and renovation.
  • Advertises a HELOC that can be funded in as few as five business days.
Cons
  • Origination fees are on the high side, according to the latest federal data.
  • HELOC requires immediate, full withdrawal of funds.
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Flagstar
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Flagstar

Flagstar: NMLS#417490

5.0
Home loans overall
NerdWallet rating
Min. credit score

N/A

Min. down payment

5%

Why We Like ItFlagstar Bank stands out for its range of accessible loans and programs, including loans with flexible requirements and down payment grant options. Its mortgage operations will be acquired by Mr. Cooper in 2024.
Pros
  • Conventional loan terms extend to 40 years, which is unusually flexible.
  • Offers options for high-balance mortgages.
  • Offers specialized mortgages for professionals, such as doctors and lawyers, starting their careers.
  • Reported average time to close (20-30 days) is faster than industry standard.
Cons
  • The lender’s mobile app is focused on banking, not mortgages.
  • Conventional fixed-rate mortgages require a 5% minimum down payment, higher than some competitors.
New American Funding
Learn more
at New American Funding
at New American Funding
New American Funding

New American Funding: NMLS#6606

4.0
Home loans overall
NerdWallet rating
Min. credit score

580

Min. down payment

3%

Why We Like ItNew American Funding offers a large menu of loan products, as well as programs like first-time home buyer assistance, but personalized mortgage rates aren't available on its website.
Pros
  • Offers a wide variety of purchase and refinance mortgages, as well as unique buyer assistance programs.
  • Its home equity line of credit can be used for a primary residence or second home.
Cons
  • Average origination fees are on the high side, according to the latest federal data.
  • Personalized mortgage rates are not available on the website without providing contact information.
State Employees' Credit Union
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State Employees' Credit Union

State Employees' Credit Union: NMLS#430055

5.0
Home loans overall
NerdWallet rating
Min. credit score

N/A

Min. down payment

0%

Why We Like ItState Employee's Credit Union in North Carolina has some of the lowest average mortgage rates of lenders we review, as well as generous grants and specialty loans for first time home buyers who meet its membership criteria.
Pros
  • Offers a no-down-payment mortgage without private mortgage insurance.
  • Participates in multiple first-time buyer assistance programs.
  • Very low average mortgage rates, according to the latest federal data.
Cons
  • Credit union membership eligibility is limited.
  • Loans only available in five states.
  • Doesn’t offer government-backed mortgages.
Guild Mortgage
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Guild Mortgage

Guild Mortgage: NMLS#3274

4.0
Home loans overall
NerdWallet rating
Min. credit score

N/A

Min. down payment

3%

Why We Like ItGuild offers a number of loans and programs that stand out, including renovation loans and home equity products. However, Guild does not have a mobile app, and interest rates aren’t published online.
Pros
  • Offers several programs to make homeownership more accessible.
  • Offers loans for manufactured homes.
  • Renovation loan options are available.
Cons
  • Does not publish interest rates online.
  • No mortgage mobile app.
  • Loans are not available in every state.
Fairway Independent Mortgage
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at Fairway Independent Mortgage
at Fairway Independent Mortgage
Fairway Independent Mortgage

Fairway Independent Mortgage: NMLS#2289

2.5
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItFairway Independent Mortgage Corporation has many brick-and-mortar branches and a reputation for top-notch customer service, but it was recently penalized for redlining.
Pros
  • Loan options include government-backed mortgages and physician loans.
  • Offers first-time home buyer grants to buyers in eligible locations.
  • Highest scoring mortgage lender for customer satisfaction, according to J.D. Power.
Cons
  • Mortgage rates aren't posted online.
  • Online customer service requires contact information and phone is for existing customers only.
  • Home equity loans and HELOCs are not available.
  • Has been penalized for redlining.
Wells Fargo
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Wells Fargo

Wells Fargo: NMLS#399801

4.5
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItWells Fargo has significant upsides and shortcomings. Sample rates are easy to view, assistance programs may apply and the lender earns solid scores in our rankings, but its consumer trust track record is rough.
Pros
  • Sample rates are shown for various loan products, along with the type of borrower and loan that would get them.
  • Offers generous down payment and closing cost assistance programs for qualified borrowers.
  • Market leader in number of jumbo loans and refinances originated, according to the latest federal data.
  • Rate-and-term refinance interest rates offered are lower than average, according to the latest federal data.
Cons
  • Home loans business is broadly focused on existing bank customers.
  • Doesn’t offer specialty home loans or equity borrowing (home equity loans or HELOC).
  • Scandals and government actions have damaged consumer trust in recent years.
Carrington
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Carrington

Carrington: NMLS#2600

3.5
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItCarrington Mortgage offers loans for people who might have trouble qualifying for a mortgage elsewhere, like self-employed borrowers or those with heavy debt. However, its interest rates are on the high side.
Pros
  • Considers borrowers with bad credit, foreclosure or bankruptcy.
  • Accepts self-employed borrowers.
  • Mortgage origination fees are on the low side, according to the latest federal data.
Cons
  • Interest rates are on the high side, according to the latest federal data.
  • Doesn’t post interest rates online.
  • No online chat for customer service.
Network Capital
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Network Capital

Network Capital: NMLS#11712

4.5
Home loans overall
NerdWallet rating
Min. credit score

620

Min. down payment

3%

Why We Like ItNetwork Capital stands out for its wide range of mortgage offerings, including niche products like physician loans, non-QM loans, ITIN loans and mortgages for manufactured homes.
Pros
  • Reported average time to close is 20 days, far below the industry average.
  • Products like non-QM loans and ITIN loans make borrowing more accessible.
  • HELOCs offer long draw terms, up to 30 years.
Cons
  • The lender’s website offers limited loan details.
  • HELOCs have a minimum loan amount of $50,000.

What is an ITIN?

An ITIN, or individual taxpayer identification number, is a number issued by the Internal Revenue Service to someone who isn't eligible to have a Social Security number but is required to file a federal tax return. Immigrants who are living and working here legally but aren't U.S. citizens are among those who may need ITINs. The IRS website has instructions on how to apply for an ITIN.

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What are ITIN mortgages?

ITIN mortgages are home loans for people who don't have and aren't eligible to get Social Security numbers. A borrower applies for an ITIN mortgage by providing an individual taxpayer identification number and other documentation.

Where can I find ITIN loans?

Only certain banks, credit unions and other lenders offer ITIN loans, so you may need to do more shopping around than an applicant would for a traditional mortgage.

Qualifying for an ITIN mortgage

With traditional mortgages, lenders use an applicant's Social Security number to track down the person's credit history from the credit reporting bureaus. Without a Social Security number, lenders must rely on other documentation, such as tax returns, bank statements and utility bills.

The documentation and credit requirements vary by lender, but generally you'll need to show proof of two years of employment and two years of tax returns and be prepared to make a higher down payment than for a traditional mortgage. The down payment requirement for an ITIN mortgage is typically 10% to 20%, and applicants may need to show they have a certain amount of cash reserves.

Last updated on August 1, 2024

Methodology

The star ratings on this page reflect each lender's home loans overall star ratings. Read more about how we determine those ratings.

The lenders on this page are chosen using this methodology:

NerdWallet reviewed more than 50 mortgage lenders, including the majority of the largest U.S. mortgage lenders by annual loan volume (measured among lenders with at least a 1% market share), lenders with significant online search volume, and those that specialize in serving various audiences across the country.

For inclusion in this roundup, lenders must offer ITIN mortgage loans and achieve at least an overall 3-star rating from NerdWallet.

NerdWallet solicits information from reviewed lenders on a recurring basis throughout the year. All lender-provided information is verified through lender websites and surveys. We also used 2022 HMDA data for origination volume, origination fee, rate spread and share-of-product data.

To recap our selections...

NerdWallet's Best Mortgage Lenders for ITIN Loans

  • Rate: Best for first-time home buyers
  • Flagstar: Best for mortgage lending overall
  • New American Funding: Best for first-time home buyers
  • State Employees' Credit Union: Best for credit union lending
  • Guild Mortgage: Best for customer satisfaction
  • Fairway Independent Mortgage: Best for customer satisfaction
  • Wells Fargo: Best for ease of application
  • Carrington: Best for nontraditional credit histories
  • Network Capital: Best for fast closing
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