NanQ™ – The ITIN Program
With over 11 Million undocumented people of all walks of life currently residing in the United States, there is a huge demand for a special mortgage product that caters to this market. This program is designed for borrower’s that seem to be in limbo in regards to their current immigration status. They have been acknowledged by the U.S. Government as having legal standing here, yet they have not completed the process of becoming a Legal Permanent Resident Alien.
Now foreign families can reach the american dream of home ownership by utilizing this privately funded mortgage program.
- Loan Purpose: Purchase or Refinance
- Occupancy: owner-occupied primary residency only
- Collateral types: 1-4 single family residences, townhouses,PUD’s, condos
- Minimum loan size $150,000. Maximum loan size $1,500,000. Higher loan amounts available by exception only.
- Borrowers: Non-permanent resident aliens; natural person with legal capacity
- Borrowers must possess a valid ITIN or IRS ITIN letter
- LTV 15% to 20%
- If a full credit profile does not exist, 1 traditional line of credit + 3 non-tradition lines of credit could be use to establish credit history.