Rate & Term
- Primary Residence
- Non-QM
- 660 Min FICO
- 85% Max LTV
The ITIN Rate & Term Refinance Program is designed for borrowers who do not have a Social Security Number but hold a valid Individual Taxpayer Identification Number (ITIN). This program allows eligible ITIN borrowers to refinance their existing mortgage to improve terms, reduce interest rates, or shorten loan duration.
This program is ideal for borrowers who:
- Have a valid ITIN and supporting IRS documentation.
- Wish to lower their mortgage payment.
- Currently own and occupy the property as their primary residence or second home.
Property Type | Credit Score | Max LTV/CLTV | Max DTI | Notes |
|---|---|---|---|---|
SFR / PUD | 720+ | 85% | 45% | Primary & second homes only. |
SFR / PUD | 660–719 | 80% | 50% | May require higher reserves. |
SFR / PUD | No FICO | 80% | 50% | Alt credit required; max loan $750k. |
2 units | 660+ | 80% | 50% | Self-sufficiency test required. |
3-4 units | 660+ | 75% | 50% | Self-sufficiency required. |
Condominium | 660+ | 80% | 50% | Full condo review required. |
Occupancy Requirement |
|---|
Allowed Primary residences and second homes are allowed. |
Not Allowed Investment properties are not permitted. |
Residency Eligibility |
|---|
Eligible At least one borrower must have a valid ITIN and U.S. government-issued ID. |
Documentation Acceptable ITIN documentation: IRS letter (<3 years), W-7 form, or tax preparer letter confirming most recent return |
Income Consistency Requirements |
|---|
Employment History
|
Job Changes
|
Income Type | Requirement | Documentation |
|---|---|---|
Wage Earner | Generally 2 years uninterrupted employment required; shorter history may be accepted with strong compensating factors. | 2 most recent paystubs or 2 months of bank statements showing direct deposit; WVOE if available. |
Self-Employed | Minimum 12 months self-employment required; some programs may require 24 months if income deposits are irregular or declining. | 12–24 months business/personal bank statements, YTD P&L, business license or CPA letter; tax return if filed. |
Part Time | 2-year history required; must be likely to continue. | Paystubs, WVOE, or 2 months bank statements showing recurring deposits. |
Seasonal | Must demonstrate consistent 12–24 month history and likelihood of continuance. | Bank statements, paystubs, or employer letter confirming rehire pattern. |
Reserves |
|---|
LTV <80% Reserves require and depend on FICO:
|
LTV ≥80% 12 months reserves required. |
Loan Amounts |
|---|
Minimum Loan Amount $100,000. |
Maximum Loan Amount $1,000,000 |
Property Types |
|---|
Eligible
|
Ineligible
|
Self-Sufficiency |
|---|
Requirement 2–4 unit properties only. |
Calculation
|
Disclaimer – This matrix was published on 09/20/2025. Program guidelines may have changed since then. Please contact Alexis to confirm the most current requirements. For complete details, refer to the Partner Matrices PDF or reach out directly to Alexis for program-specific guidance.
Contact Loan Officer
Alexis Andrade
Mortgage Loan Officer
NMLS #2553405
alexis@sjmorganple.com