Colorado Foreign National Loans

Foreign nationals and non-US citizens can get a foreign national mortgage in Colorado to become homeowners without a Social Security number. With financing options such as ITIN loans in Colorado, aspiring homeowners can benefit from flexible eligibility criteria that make it easier to qualify and get competitive interest rates.

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Purchase
A purchase loan can be used to buy a home.


Refinance
A 'rate and term' refinance allows you to improve the terms of your existing mortgage by lowering the monthly payment. A 'cashout refinance' allows you to convert equity into cash.


Home Equity
A home equity loan or line of credit is a 2nd mortgage that allows you to convert equity to cash without having to touch your existing 1st mortgage.

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    Types of Foreign National Loans Available in Colorado

    We can help foreign nationals realize their dream of owning property in the U.S., even if you don’t have a Social Security number or established U.S. credit history. If you’re a non-citizen or non-resident looking to buy a home, check out our foreign national lending options in Colorado.

    ITIN Loans

    For borrowers who don’t have a Social Security number, ITIN loans offer a path to homeownership. These loans are specifically designed for non-residents who have an Individual Taxpayer Identification Number (ITIN), allowing you to secure financing without an SSN or traditional U.S. credit profile.

    ITIN loan requirements:

    • Valid ITIN
    • Proof of stable income and employment
    • Minimum 20% down payment
    • If a U.S. credit score isn’t available, alternative proof of credit — such as a credit report from the borrower’s country of origin — may be required

    Permanent Resident Alien Loans

    If you’re a permanent resident (Green Card holder), you can access many of the same mortgage products as U.S. citizens. Explore traditional mortgage products, such as FHA loans, VA loans, and conventional loans.

    Permanent resident alien loan requirements:

    • Valid Green Card
    • Proof of stable income and employment
    • Minimum down payment varies based on loan type
    • Minimum credit score varies based on loan type

    Non-Permanent Resident Alien Loans

    Even if you’re living in the U.S. as a non-permanent resident, you can still qualify for some home loan options in Colorado, such as conventional loans or even some portfolio loan products.

    Non-permanent resident alien loan requirements:

    • Valid visa that falls under one of the following classifications:
      • E-1, E-2, E-3
      • G-1 through G-5
      • H-1B & H-1C, H-2 through H-4
      • L-1B, L-2
      • NATO 1 through 6
      • O-1
      • R-1
      • TN-1 & 2 (NAFTA)
    • Proof of stable income and employment
    • Down payments as low as 5-10% for conventional loans (higher for other mortgage options)
    • U.S. credit history required
    • May need a U.S.-based co-signer

    Benefits of Foreign National Loans in Colorado

    Foreign national loans allow borrowers to qualify for a home loan without a Social Security number, providing access to homeownership in Colorado. Key benefits of foreign national loans in Colorado include:

    • Flexible eligibility criteria: With more flexible eligibility requirements, borrowers can use their ITIN as an alternative to an SSN, making it easier to qualify.
    • Investment opportunities: Foreign national mortgage loans in Colorado are available for investors looking to expand their portfolios.
    • Building credit: Foreign national home loans in Colorado can help borrowers build credit in the U.S. to open other financial opportunities in the future.
    • Diverse properties: Foreign national loans enable borrowers to explore a wide range of property options and locations, including single-family homes, condos, and multi-unit properties. Whether you’re looking for a condo in Denver or a house in Boulder, a foreign national loan can help you make the purchase.

    Think you qualify for a loan? Contact us today to find out!

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    Colorado Foreign National Loan Qualification Requirements

    Some of the common requirements you’ll need to meet to obtain a foreign national loan in Colorado include:

    • Valid ITIN: In order to qualify for an ITIN loan, you must have a valid ITIN issued by the IRS.
    • Proof of income: Lenders must determine your ability to repay the loan by reviewing proof of income and work history. Proof of income documentation may include W-2s, pay stubs, tax returns, rental income, and bank statements.
    • Employment: While there’s no specific employment requirement, lenders must ensure you have income stability that gives you access to the funds you need to repay the loan. While a job isn’t always necessary, you can discuss your options with your lender since foreign national loans in Colorado come with less stringent lending requirements.
    • Credit history: While borrowers may not have a FICO score, lenders will consider alternative methods to assess an applicant’s creditworthiness, which may include reviewing payment history, bill payments, and loan payments. In some cases, borrowers can also provide lenders with a credit report from their country of origin in place of a FICO score.
    • Down payment: Foreign national loans may require higher down payments, but the exact amount varies by lender.
    • Additional documents: Your lender may ask for additional documents to determine your ability to repay the loan, which may include proof of assets or rental history.
    • Occupancy: Foreign national loans can be used for the purchase or refinance of primary residences, second homes, and investment properties.

    Apply for a Foreign National Mortgage in Colorado

    Getting home loans with your ITIN number in Colorado expands homeownership opportunities for individuals without SSNs, including foreign nationals. By offering flexible eligibility criteria and competitive interest rates, they pave the way for aspiring homeowners and investors.

    Apply for a foreign national mortgage with Griffin Funding today. We offer Colorado home loans suited for all types of borrowers. Get in touch and we can help you compare your options, or you can get started online right away.

    Frequently Asked Questions

    An ITIN mortgage loan is a type of non-QM loan designed for non-residents and non-citizens of the U.S. that allow borrowers to qualify with an Individual Taxpayer Identification Number (ITIN) rather than a Social Security number. Borrowers can use a Colorado ITIN loan to purchase a primary residence, a second home, or an investment property.

    The types of properties you can use an ITIN loan for vary by lender. However, generally, you can expect to purchase properties such as:

    • Single-family homes
    • Condos & townhomes
    • Vacation homes
    • Investment properties

    You can apply for an ITIN loan in Colorado by contacting Griffin Funding. We have an online application available to streamline the process, but you can also call us to discuss your options. During our discovery call, we’ll learn more about you to determine if an ITIN loan is the best fit, and we can provide guidance to answer all of your questions.

    We can also get you pre-approved to help you understand your budget and estimated interest rate. A pre-approval letter can give you more negotiating power with sellers while improving your chances of finding a property you can afford.

    Once your questions are answered and you’ve found a property you love, you can use our online application or apply over the phone with one of our mortgage specialists. We’ll ask you to provide supporting documents to prove your ability to repay the loan and any other information associated with your unique situation.

    Documents needed for an ITIN home loan in Colorado vary by lender. In general, you should expect to share the following with your lender:

    • Proof of income: Proof of income can be anything from W-2s to bank statements to rental income that demonstrate your income and ability to repay the loan.
    • Visa or visa waiver: Your visa or visa waiver allows us to verify your residency status and eligibility to apply.
    • Proof of creditworthiness: If you don’t have a credit history, we may require you to provide alternative documentation to prove creditworthiness, such as a credit report from your country of origin.
    • ITIN Card or IRS Communication: It’s essential to have either a valid ITIN document or correspondence from the IRS displaying your ITIN details. This is vital because, for tax considerations related to the loan, the ITIN serves as an alternative to a Social Security number.

    Contact Griffin Lending for specific documentation requirements and learn more about what it takes to get approved for a loan.

    While there is no absolute minimum credit score for foreign national loans in Colorado, borrowers should aim to have a credit score of at least 620 when applying. A credit score of 620 or higher can help you secure more competitive terms and a better rate on your mortgage.

    If you don’t have established credit in the U.S. as a foreign national, we can work with you. In these cases, you may have to supply a credit report from your country of origin or we can explore other methods for verifying your creditworthiness.