Where can I get an ITIN loan in the Washington, DC area?

If you’re new to the DC area and are looking to buy a home, you might encounter some bumps along the road, especially if you don’t have a social security number.

The good news is there are loan products available that you can apply for even if you don’t have a social security number or legal status.

Given the above scenario, an ITIN number is all you need to get a loan. Read along to learn how to get an ITIN loan and ITIN number.

What is an ITIN number?

An ITIN number is a nine-digit number provided by the IRS to individuals who need t have a Tax ID but are not eligible to get a social security number. This number aids tax authorities in processing federal tax returns. ITIN is given to residents and undocumented immigrants needing a U.S. tax identification number.

A Washington, DC mortgage broker can assist you if you want to know more about an ITIN loan.

How do ITIN loan programs work?

An ITIN loan program is designed for people who want to apply for a home loan even without social security numbers. Applying for a conventional loan won’t work if you don’t have a social security number. Still, with an ITIN loan, you only need to present your ITIN number and other necessary documents as required.

What are the steps to get an ITIN number?

  1. Know when to apply

You can apply for your ITIN number any time of the year but remember that you must file your current tax return before the April 15th due date. If you file late, you may have to pay penalties.

  1. Start the process

Use the W-7 form to apply and submit all required documents like your National Identification Card, Visa, Foreign Drivers License, School Records, Medical Records, Civil Birth Certificate, Military ID, and U.S. State ID.

  1. Mail your W7 form

After filling up your W-7 form, you can mail it to the address listed on the form along with your tax returns and required documents.

  1. Get your ITIN number

Expect a letter from the IRS in 4 to 6 weeks providing an assigned ITIN number.

What are the eligibility requirements for an ITIN loan?

Before applying for an ITIN loan, specific criteria are required:

  • You must prepare a minimum of 15% down payment depending on your credit score. 

  • A year of proof of income and two years of employment history

  • Last month's pay slips as proof of employment

  • A year of bank statements instead of tax returns if you are self-employed

  • A minimum 600 credit score is preferred by lenders, but you can apply for an ITIN loan even without a credit score

Who offers ITIN loans in the Washington DC area?

Only select lenders, banks, and credit unions offer ITIN loans. If you want the best deals in town, inquire with The Mortgage Option today.  

Our loan experts have helped numerous borrowers become DC homeowners with ITIN loans.

What are the benefits of getting an ITIN loan?

ITIN loans have helped many become homeowners. If you can’t pay cash for your Washington, DC home and don’t have a social security number, an ITIN loan is your  best option. This is the path to homeownership for many who are having difficulty getting a traditional loan.

Here are the benefits you can enjoy when applying for an ITIN loan:

  • You don’t have to be an American citizen or a green card holder to apply for an ITIN loan. 

  • You can buy a home faster with an ITIN loan instead of saving up for years to pay in cash.

  • Applying for an ITIN loan is easy and can be done online. All you need is your ITIN number, proof of steady income, and proof you submit your yearly tax returns.

  • ITIN loans are more affordable compared to hard money loans.

  • You can build your credit score when you apply for an ITIN loan. With every payment made toward your ITIN loan, your credit score gets better. This gives you a chance to get another loan in the future, like a car loan, business, or student loan.

  • A social security number isn’t required, unlike when applying for a conventional loan.

Are you ready to buy your new Washington, DC home?

Don’t let the lack of having a social security number or legal status stop you from buying your dream home in Washington, DC.

Applying for an ITIN loan is your best option, and an ITIN mortgage broker in Washington, DC can help.

Talk with our loan officers and get started on your homeownership journey today. Get pre-approved and get a step closer to buying your new home.

Call or message us on our website today. Our loan experts at The Mortgage Option would be glad to assist you.


* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.

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