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What is an ITIN mortgage borrower?
An ITIN borrower is a mortgage applicant who uses an Individual Taxpayer Identification Number (ITIN), issued by the IRS, rather than a Social Security number for tax identification. Some mortgage programs, often called ITIN loans, are designed to accommodate eligible ITIN borrowers, with requirements that vary by program.
The IRS issues ITINs to people who need to file U.S. taxes but aren't eligible for a Social Security number. Many ITIN borrowers live and work in the U.S., file taxes every year and have steady income, but don't fit agency lending, which generally requires a Social Security number.
An ITIN describes how someone files taxes, not where they live. It doesn't make a borrower a foreign national, and ITIN programs and foreign national programs are usually separate.
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