Program aims to enhance mortgage access for non-US citizens
A&D Mortgage has rolled out its new ITIN Mortgage Program to expand homeownership opportunities to a more diverse community.
The new program is designed for individuals holding an Individual Taxpayer Identification Number (ITIN) but who do not have a Social Security number, including first-time homebuyers and property investors.
“At A&D Mortgage, we believe in the fundamental right to homeownership and are dedicated to creating avenues that make this possible for all,” A&D Mortgage CEO Max Slyusarchuk said. “The ITIN mortgage program is a testament to our commitment. It not only acknowledges but also addresses the unique financial needs of non-US citizens and residents who contribute significantly to our communities and economy.”
Key features of the ITIN Mortgage Program include:
- Eligibility for borrowers with a minimum FICO score of 660 for Super Prime loans.
- A maximum Combined Loan-to-Value (CLTV) of 80%, with loan amounts up to $1 million.
- A DSCR (Debt Service Coverage Ratio) option for applicants with a minimum FICO score of 700, offering a max CLTV of 70% and loan amounts up to $1 million.
- A simplified documentation process that requires only a valid ITIN card and government-issued ID or an IRS ITIN letter with a government-issued ID.
“A&D Mortgage’s introduction of the ITIN Mortgage Program reflects its ongoing dedication to innovation and customer-centric service,” the company said. “By offering these inclusive financing options, A&D Mortgage is setting a new standard in the industry, fostering a more inclusive economy and society.”
The Hollywood-based lender recently expanded into two new states, Oklahoma and Montana, as part of its growth strategy to extend its non-QM lending services nationwide.
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