Did you know that at SteveKnowsLoans, you can apply for a house mortgage loan even if you don’t have a social security number? Even if you may not be eligible for a Social Security Number as a U.S. resident alien (based on days present in the United States), filing a U.S. tax return
However, both U.S. residents and non-citizens may be required to file annual tax returns and make annual tax payments; therefore, getting an Individual Tax Identification Number (ITIN) is possible regardless of your immigration status in the country. You can get an ITIN from the IRS if you don’t have a social security number but are required to file U.S. taxes. If you need a taxpayer identification number but don’t have, or aren’t qualified for, a social security number, you can apply for an individual taxpayer identification number (ITIN) from the Internal Revenue Service.
An Individual Tax Identification Number (ITIN) can be used to prove your identity to the IRS even if you are not a U.S. citizen or permanent resident or if you don’t otherwise qualify for a Social Security number. You can use this number to process and account for tax returns and payments for people who don’t have Social Security numbers in a way that complies with U.S. law.
The following are not requirements for obtaining an ITIN:
- A credit history is unnecessary.
- Lacking a valid SSN
- Inability to obtain a visa
- No Need for Aged Assets
If you don’t have proof of legal status in the United States but have an ITIN, you can apply for a tax ID loan. If you’re looking for a mortgage loan as a first-time buyer or a current homeowner interested in refinancing, you can apply for a Tax ID loan if you have a valid ITIN. Refinancing a mortgage is a common way for homeowners to lower their monthly payments by taking advantage of a new loan’s lower interest rate. In order to take advantage of the low financing rates offered by the real estate industry, an ITIN is required.
Once you have your ITIN, you can apply for a Tax-ID loan by showing proof of your steady income and a sizable savings account to prove that you can afford the monthly payments on the loan. The interest rates on ITIN loans are quite high; therefore, it’s in your best interest to save as much money as possible in advance. You may put down as much as 20% of the home’s value on an ITIN loan.
SteveKnowsLoans may help by informing you of the specifics of the loan and checking your credit report to ensure you’re comfortable with the terms. You can build credit by making on-time purchases using your ITIN or by consistently paying your rent and utilities on time, all of which can be used to gauge your creditworthiness. SteveKnowsLoans can provide you with the best tax-ID mortgage products for your home purchase or refinance if you are pre-qualified.
Call Steven Jackson at 813-616-9411 now!
