What we verified in “ITIN mortgages: what exists and what lenders ask for”

Statements and where we checked them

The statements with rules, figures or dates, with the exact place in the source and the date we checked them.

1. Fannie Mae's Selling Guide requires that each borrower have a valid Social Security number or Individual Taxpayer Identification Number (ITIN), in addition to meeting existing legal residency and documentation requirements.

   Sources 1 · Selling Guide B2-2-01, General Borrower Eligibility Requirements, 'Tax Identification Numbers': 'requires that each borrower have a valid Social Security number or Individual Taxpayer Identification Number (ITIN), in addition to meeting existing legal residency and documentation requirements' · Checked October 17, 2026

2. Fannie Mae purchases mortgages made to non-U.S. citizens who are lawful permanent or non-permanent residents under the same terms available to U.S. citizens; it does not specify the precise documentation: the lender determines status based on the circumstances of the individual case, using documentation it deems appropriate, and warrants to Fannie Mae that the borrower is legally present in the country.

   Sources 2 · Selling Guide B2-2-02, Non–U.S. Citizen Borrower Eligibility Requirements: 'lawful permanent or non-permanent residents of the United States under the same terms that are available to U.S. citizens'; 'does not specify the precise documentation the lender must obtain'; 'based on the circumstances of the individual case, using documentation it deems appropriate'; 'the lender represents and warrants that the non–U.S. citizen borrower is legally present in this country' · Checked October 17, 2026

3. HUD Mortgagee Letter 2025-09 removes the non-permanent resident sections in their entirety and, with them, those borrowers' eligibility for FHA loans; it must be implemented for case numbers assigned on or after May 25, 2025; lawful permanent residents (with USCIS evidence) remain eligible on the same terms as citizens, as do citizens of the Federated States of Micronesia, the Marshall Islands and Palau; and a Social Security card is not sufficient to prove immigration or work status.

   Sources 3 · Mortgagee Letter 2025-09: 'removes the Non-permanent Residents sections in its entirety'; 'eliminating eligibility for non-permanent resident borrowers'; 'must be implemented for FHA case numbers assigned on or after May 25, 2025'; 'A borrower with lawful permanent resident status may be eligible for FHA-insured financing provided the borrower satisfies the same requirements, terms, and conditions as those for U.S. citizens'; 'provides evidence of lawful permanent resident status'; 'the Republic of the Marshall Islands, or the Republic of Palau'; 'A Social Security card is not sufficient to prove immigration' · Checked October 17, 2026

4. According to Mortgagee Letter 2021-12, FHA's earlier requirement for non-permanent residents included a valid Social Security number (except for those employed by the World Bank, a foreign embassy or an equivalent employer identified by HUD) and eligibility to work in the U.S.; FHA also stated that individuals without lawful residency in the U.S. were ineligible for FHA-insured financing.

   Sources 4 · Mortgagee Letter 2021-12 (May 28, 2021), Background: 'the borrower has a valid Social Security Number (SSN), except for those employed by the World Bank, a foreign embassy, or equivalent employer identified by HUD'; 'the borrower is eligible to work in the United States'; 'individuals without lawful residency in the United States are ineligible for FHA-insured mortgage financing' · Checked October 17, 2026

5. For USDA's Single Family Housing Guaranteed Loan, the regulation requires applicants to provide evidence acceptable to the agency that they are U.S. citizens, U.S. non-citizen nationals or 'qualified aliens', as the regulation defines them.

   Sources 5 · 7 CFR §3555.151(b), Citizenship status: 'Applicants must provide evidence acceptable to the Agency of their status as United States citizens, U.S. non-citizen nationals, or qualified aliens' · Checked October 17, 2026

6. In a December 2003 legal opinion, the NCUA (the federal regulator of credit unions) saw no legal impediment to a federal credit union lending to members who use an ITIN or a Matrícula Consular instead of a Social Security number, as long as it identifies and addresses the risks of that activity.

   Sources 6 · NCUA Legal Opinion 03-0964 (December 2003): 'rather than a social security number'; 'We see no legal impediment to this plan'; 'an FCU must be sure to identify and address any risks associated with this initiative' · Checked October 17, 2026

7. The FDIC's public Community Reinvestment Act evaluations document banks that offer ITIN mortgage loans; for example, a July 2024 evaluation describes an ITIN loan program designed for individuals who earn an income in the United States but do not qualify for a Social Security number, and who typically are not able to obtain a conventional mortgage loan.

   Sources 7 · FDIC Public Disclosure, Community Reinvestment Act Performance Evaluation (July 8, 2024), 'Individual Taxpayer Identification Number (ITIN) Mortgage Loans', p. 13: 'designed for individuals that earn an income in the United States, but do not qualify for a Social Security number'; 'provides loans to individuals with an ITIN who typically are not able to obtain a conventional mortgage loan' · Checked October 17, 2026

8. According to the CDFI Fund, CDFI certification is given to specialized organizations that provide financial services in low-income communities and to people who lack access to financing; they include community development banks and credit unions, and loan and venture capital funds; there are certified CDFIs in all 50 states, the District of Columbia, Guam and Puerto Rico; the fund publishes the list of certified CDFIs; and its awards can finance, among other things, mortgage lending for first-time homebuyers.

   Sources 8 · CDFI Certification: 'specialized organizations that provide financial services in low-income communities and to people who lack access to financing'; 'community development banks and credit unions, and non-regulated institutions like loan and venture capital funds'; 'certified CDFIs in all 50 states, the District of Columbia, Guam, and Puerto Rico'; 'List of Currently Certified CDFIs'; 'mortgage lending for first-time homebuyers' · Checked October 17, 2026

9. The CFPB recommends contacting several different lenders, because borrowers who shop around can save thousands of dollars and different lenders can offer different kinds of loans; it suggests contacting your local bank or credit union and other lenders that serve your area, says a housing counselor can help you identify lenders and recommends contacting at least three.

   Sources 9 · Contact multiple lenders: 'Contact several different lenders'; 'Borrowers who shop around can save thousands of dollars'; 'Different lenders can also offer different kinds of loans'; 'contact your local bank or credit union and other lenders that serve your area'; 'A housing counselor can also be a good resource to help you figure out how to identify lenders'; 'Contact at least three lenders on your list' · Checked October 17, 2026

10. According to the CFPB, prequalification and preapproval letters specify how much the lender is willing to lend you, up to a certain amount and based on certain assumptions; the letter helps you make an offer because it gives the seller confidence, but it is not a guaranteed loan offer.

    Sources 10 · What's the difference between a prequalification letter and a preapproval letter? (last reviewed December 5, 2023): 'specify how much the lender is willing to lend to you, up to a certain amount and based on certain assumptions'; 'gives the seller confidence that you will be able to get financing'; 'It is not a guaranteed loan offer' · Checked October 17, 2026

11. According to the CFPB, the lender must give you a Loan Estimate within three business days of receiving your application; all lenders must use the same standard form, which makes comparing easier; and when you receive it, the lender has not yet approved or denied your application.

    Sources 11 · What is a Loan Estimate? (last reviewed August 9, 2024): 'The lender must provide you a Loan Estimate within three business days of receiving your application'; 'All lenders are required to use the same standard Loan Estimate form'; 'the lender has not yet approved or denied your loan application' · Checked October 17, 2026

12. Under Regulation Z, neither the lender nor any other person may charge you a fee in connection with your mortgage application before you receive the Loan Estimate and tell the lender you intend to proceed, except a bona fide and reasonable fee for obtaining your credit report.

    Sources 12 · 12 CFR §1026.19(e)(2)(i)(A)–(B): 'neither a creditor nor any other person may impose a fee on a consumer in connection with the consumer's application for a mortgage transaction'; 'indicated to the creditor an intent to proceed'; 'a bona fide and reasonable fee for obtaining the consumer's credit report' · Checked October 17, 2026

13. According to the CFPB, the interest rate is the cost you pay each year to borrow the money, expressed as a percentage, and does not reflect fees; the APR is a broader measure of the cost of borrowing that reflects the rate, any points, mortgage broker fees and other charges you pay to get the loan, which is why it is usually higher than the interest rate.

    Sources 13 · What is the difference between a mortgage interest rate and an APR? (last reviewed August 28, 2026): 'the cost you will pay each year to borrow the money, expressed as a percentage rate'; 'It does not reflect fees or any other charges'; 'a broader measure of the cost of borrowing money than the interest rate'; 'The APR reflects the interest rate, any points, mortgage broker fees, and other charges that you pay to get the loan'; 'your APR is usually higher than your interest rate' · Checked October 17, 2026

14. According to the CFPB, the debt-to-income ratio (DTI) is all your monthly debt payments divided by your gross monthly income; it is one way lenders measure your ability to manage the payments, and different loan products and lenders have different DTI limits.

    Sources 14 · What is a debt-to-income ratio? (last reviewed August 28, 2023): 'all your monthly debt payments divided by your gross monthly income'; 'one way lenders measure your ability to manage the monthly payments'; 'Different loan products and lenders will have different DTI limits' · Checked October 17, 2026

15. Freddie Mac says you should typically be prepared to pay between 2% and 5% of the home purchase price in closing costs, and that they vary greatly by location and price.

    Sources 15 · What Are Closing Costs and How Much Will I Pay?: 'closing costs vary greatly depending on your location and the price of your home'; 'Typically, you should be prepared to pay between 2% and 5% of the home purchase price in closing fees' · Checked October 17, 2026

16. HUD-approved housing counselors give independent advice on buying, renting, defaults and credit, and on whether a set of mortgage terms fits your objectives, often at little or no cost.

    Sources 16 · Find a Housing Counselor: 'advice on buying a home, renting, defaults, forbearances, foreclosures, and credit issues'; 'whether a particular set of mortgage loan terms is a good fit based on your objectives and circumstances'; 'often at little or no cost to you' · Checked October 17, 2026

17. According to the Department of Justice's Executive Office for Immigration Review (EOIR), only certain individuals can represent you, including validly licensed attorneys and accredited representatives; notarios, document preparers, immigration consultants and travel agents are not allowed to practice law or give you legal advice.

    Sources 17 · Can Someone Represent You Before EOIR?: 'Those include validly licensed attorneys and accredited representatives'; 'Notarios, document preparers, immigration consultants, and travel agents are not allowed to practice law'; 'They cannot give you legal advice' · Checked October 17, 2026