The increase in the number of immigrants to the US has led to the problem of finding an affordable living place. Most new immigrants pay rents for the houses they live in, but for those who want to get their own residential property, their status as an undocumented immigrant is a big hurdle in the way. In the past, it was impossible for immigrants to get a home loan but not now.

Nowadays, immigrants constitute a major portion of the US population. Therefore, money lending companies and banks has discovered a possibility to provide loans to the people without a Social Security Card. These loans are approved on the basis of a person’s individual taxpayer identification number (ITIN).

Individual Taxpayer Identification Number

Individual taxpayer identification number is a nine digit number issued to those individuals who want to pay their taxes but do not have a social security number. Undocumented immigrants obtain this number from the Internal Revenue Service that limits its use to filing income tax returns only.

Beyond filing the tax returns, ITIN holders acquire some extra benefits like getting loans and incorporating a business in the US.

Individual taxpayer identification numbers do not verify the legal status of immigrants in the US; therefore, they are unable to serve any other purpose. However, there are a few banks that give an opportunity to the holders of individual taxpayer identification numbers to qualify for loans by verifying two years of their income and after attaining proof of their utility payments.

So, if you do not have a valid SSN, you are still eligible to apply for an ITIN home loan. It is important however, to consider that this facility is not widely available throughout the country; instead, it is limited to California specifically. Likewise, these loans are sanctioned quite selectively. Thus, you need to search on the internet for companies that can offer you such type of loans.


Applying for such loans might make you face a few more problems as compared to applying for a usual mortgage.

One bad thing about ITIN loans is that the loan application process takes a lot of time to be approved as it is a manual procedure, where applicants have a less documented credit history. In addition, to compensate the additional risk and trouble those lenders may face; charges and interest rates might be quite higher.

ITIN loans are highly debated as many people oppose the lending of money to undocumented or illegal immigrants. According to them, this strengthens and encourages the immigrants who have no legal status in the US. However, others argue that a neighborhood full of homeowners is much better than one with renters as owners better take care of their own property and neighborhood.

Thus, if you have a dream to own your house in USA, and are eligible for an individual taxpayer identification number; then go ahead and apply for a loan. It will be the first step to getting a roof over your head without paying the rent.

If you want to apply for an, Individual Taxpayer Identification Number, or ITIN tax number and have any other questions, please feel free to contact us at 888-509-3616. If you have any suggestions please share those with us as well. Freedomtax ITIN Number has a professional team of IRS Certifying Acceptance Agents, and tax accounting professionals with more than 16 years of experience, helping immigrants with their ITIN application. Freedomtax can also help immigrant entrepreneurs incorporate a business in the USA. Freedomtax ITIN Tax Number Online services provides Quality, Professional Service with a Family Feel.

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