ITIN Lending

A path to homeownership with an ITIN.

Loans up to $2.5 million

Up to 85% loan-to-value

Gift funds accepted

Mortgage financing without a Social Security number.

You may still have a path to homeownership if you do not have a Social Security number. An ITIN loan from Michigan First Mortgage allows eligible borrowers to apply for mortgage financing using an Individual Taxpayer Identification Number.

With financing available for primary residences and eligible second homes, an ITIN loan can help you purchase a single-family home, townhouse, condominium or home within a planned unit development. A Michigan First Mortgage Loan Officer can explain the requirements, review your documentation and help you understand your available options.

What is an ITIN loan?

An ITIN loan is a mortgage option for eligible borrowers who have an Individual Taxpayer Identification Number but do not have a Social Security number.

ITINs are issued by the Internal Revenue Service for federal tax purposes. An ITIN does not provide work authorization or immigration status, but certain lenders - including Michigan First Mortgage - accept it as part of the mortgage application process.

An ITIN loan still requires the borrower to demonstrate the ability to repay the mortgage. Credit, income, assets, debts, employment or self-employment history and the property will be reviewed as part of the application.

Michigan First ITIN loan features

Michigan First’s ITIN loan program provides financing options for eligible homebuyers whose circumstances may not fit traditional mortgage requirements. Program features include:

Maximum loan amounts up to $2.5 million
Full-documentation financing up to 85% loan-to-value
Minimum credit score of 660
Gift funds permitted with minimum contribution requirements
Required cash reserves equal to three to nine months of mortgage payments
Financing for eligible primary residences, second homes, and investment properties
Single-family homes, townhouses and condominiums

Rates, terms, loan-to-value limits, reserve requirements and eligibility depend on the borrower, property, occupancy and complete application. Meeting the stated minimum requirements does not guarantee approval.

How much is the down payment?

Michigan First currently offers full-documentation ITIN financing up to 85% loan-to-value. For a home purchase, that generally means a borrower may need to contribute at least 15% of the property’s purchase price or appraised value, whichever is used to calculate the loan.

You may also need funds for closing costs, prepaid expenses and required reserves. Michigan First permits eligible funds required at closing to come from a gift for a primary residence or second home.

Gift funds must meet program documentation requirements. Your Mortgage Loan Officer can explain how much you will need and which funds may be provided as a gift.

Requirements

What documentation may be required?

Although an ITIN loan does not require a Social Security number, it is still a documented mortgage. Depending on your circumstances and the selected loan, you may be asked to provide:

A valid Individual Taxpayer Identification Number
Government-issued identification
Federal income tax returns
Recent pay statements or other income documentation
Bank or asset statements
Employment or self-employment documentation
Credit and payment history
Documentation for gift funds
Evidence of required financial reserves
Information about your current debts and expenses

Documentation requirements vary. Your Mortgage Loan Officer will provide a personalized list based on your income, employment, finances and proposed property.

Credit and financial reserve requirements

The current Michigan First ITIN loan program requires a minimum credit score of 660. Your complete credit history and other financial qualifications will also be considered.

Eligible borrowers must generally have enough remaining funds after closing to cover three to nine months of mortgage payments. These funds are known as cash reserves and help demonstrate that you can continue making payments if you experience an unexpected expense or interruption in income.

The exact reserve requirement will depend on the mortgage amount, property, occupancy and borrower qualifications.

Eligible homes

Michigan First ITIN loans may be used to finance eligible:

Single-family homes
Townhouses
Condominiums
Homes in planned unit developments
Primary residences
Second homes

Property eligibility depends on the home, appraisal, occupancy and applicable program requirements. Investment-property eligibility is not currently listed as a program feature and should not be promised without internal confirmation.

Take the next step toward homeownership

You do not need to navigate the mortgage process or documentation requirements alone. A Michigan First Mortgage Loan Officer can review your financial circumstances, explain the ITIN loan program and help you determine what you may need to apply.