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If you are a prospective borrower without a social security number (SSN), you may find yourself applying for an Individual Taxpayer Identification Number ITIN construction loan when you try to build a home. This specialty home loan program is for people with an Individual Taxpayer Identification Number assigned to their name and does not depend on citizenship status. Looking for helpful tips that can aid you with being approved for an ITIN construction loan? Continue reading for some pointers.


Gather Documents and Make a Plan for ITIN Construction Loans

Before you apply for an ITIN loan to build your home, it’s a good idea to know what kind of documents your loan officer will ask you for before you can secure an approval.

Valid documentation for ITIN home construction might include a valid U.S. visa or a valid passport to verify your identity. As with ITIN purchase mortgages, and home loans for people with SSNs, you may be asked for asset statements to show you can make the down payment and closing costs. You might also be asked to show you can repay your construction loan with income documentation and credit history.

Don’t have a credit score? Don’t fret. Often other payments you make monthly, like utilities or an existing home loan, will suffice instead of a credit score, to support your ITIN construction loan application.

Be sure you review your application documents carefully. Are they legible and current? Your lender will not be afraid to ask you for a newer bank statement or paystub to support your application. Your loan officer should be a resource to you – they will be able to help answer questions you may have about your ITIN construction qualifications.


Build a Team You Trust

Your loan officer is an important member of your ITIN construction team, but they’re not the only one. When you secure a builder for your new home, they will be the ones hiring every hand that works on your new home. Plus, they will need to be approved by your lender. When you are selecting your builder, try to select one you can trust to communicate with your lender effectively and on time. Your builder and your lender will need to be in contact not just during the application and approval process, but during the build process as well.

To improve your chances of approval for an ITIN construction loan, consider gathering required documents ahead of time, and researching reliable builders who can effectively communicate with your lender throughout the process when you’re approved. Implementing these steps into your home building plans with an ITIN construction loan can help you make your dream home a reality.


Subject to credit approval. Terms and conditions may apply. Property insurance is required on all loans secured by property.

This article is intended for general informational and educational purposes only and should not be construed as financial or tax advice. For more information on financial planning or investment advice, consult a registered investment advisor or financial planner. For tax advice, please consult a tax professional. 

This information is intended for educational purposes only. Products and interest rates subject to change without notice. Loan products are subject to credit approval and include terms and conditions, fees and other costs. Terms and conditions may apply. Property insurance is required on all loans secured by property. VA loan products are subject to VA eligibility requirements. Adjustable Rate Mortgage (ARM) interest rates and monthly payment are subject to adjustment. Upon submission of a full application, a mortgage banker will review and provide you with the terms, conditions, disclosures, and additional details on the interest rates that apply to your individual situation.