Deephaven’s ITIN Mortgage Helps Borrowers Who Don’t Have Social Security Numbers!

A home loan that allows individuals to qualify for a mortgage using an Individual Taxpayer Identification Number (ITIN) instead of a Social Security Number. Individual Taxpayer Identification Number (ITIN) borrowers are individuals with an ITIN who reside and work within the United States but do not possess U.S. citizenship. Standard guidelines apply for verifying the income and employment of ITIN borrowers. 

  • Loans up to $1.5 million 
  • Up to 80% LTV 
  • 680 minimum FICO 
  • Cash out up to $500,000 with a 700 FICO 
  • Bank statement options for self-employed borrowers 
  • One year P&L with 2 months of bank statements 
  • Single family, PUD, townhomes and condos 
  • Non-warrantable condos allowed 
  • Primary, second homes and investment properties 
  • Debt ratio up to 50% 
  • Gift funds allowed 
  • 30-year fixed 5/6 ARM, 7/6 ARM
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FAQs

How does Deephaven qualify borrowers for a Non-QM loan?

There are several programs for qualifying a borrower’s ability to repay a Non-QM mortgage. Bank Statement programs provide income and cash flow verification. We may also utilize personal assets such as individual retirement accounts and stock accounts to qualify while property investors can use the rent on rental properties.

 

How are Non-QM mortgage rates set?

Non-QM mortgage rates adjust according to the individual characteristics of the loan and borrower profile. These include: loan-to-value ratio, down payment amount, credit score and history.

What does Non-QM stand for?

Non-QM stands for non-qualified mortgage. It is a term used to identify mortgages that do not meet requirements of federal agencies: Freddie Mac and Fannie Mae. Non-Agency is another term for Non-QM.

Do Non-QM mortgages require a down payment?

Yes, typically between 10% and 20%.

What is the maximum amount a Non-QM customer can borrow?

At Deephaven, the maximum loan amount is $3.5 million depending on the loan type.

Which loan is right for my Non-QM borrower?

The answer varies depending on the type of loan, the borrower’s credit profile and how the loan is to be qualified.

Are there commercial Non-QM mortgages?

Yes, there are. Deephaven offers DSCR (Debt Service Credit Ratio) loans for investment and business purposes.

Can self-employed people get a Non-QM mortgage?

Yes, in fact one of the primary reasons Non-QM mortgages were created was to provide loans to the self-employed.