Illinois Foreign National Loans

Types of Foreign National Mortgages Available in Illinois

We offer the following types of foreign national mortgages across the state of Illinois.

ITIN Loans

Illinois ITIN loans make it possible for non-citizens and non-residents to purchase property in the United States without having a Social Security number or a FICO score. Instead, foreign nationals can qualify for home financing in the US by providing the lender with their Individual Taxpayer Identification Number (ITIN).

ITIN loan requirements:

• Borrowers must supply a valid ITIN
• Proof of stable income and employment
• Minimum down payment of 20%
• If no U.S. credit score is available, alternative proof of credit — such as a credit report from the borrower’s country of origin — may be required

Permanent Resident Alien Loans

Permanent residents (Green Card holders) are able to access many of the same mortgage products available to U.S. citizens. As a permanent resident, you can access many traditional mortgage products, such as FHA loans and VA loans.

Permanent resident alien loan requirements:

• Borrowers must possess a valid Green Card
• Proof of stable income and employment
• Minimum down payment varies based on loan type
• Minimum credit score depends on loan type

Non-Permanent Resident Alien Loans

While mortgage options available to non-permanent residents may be limited compared to permanent residents, you can still qualify for various mortgage products, such as conventional loans.

Non-permanent resident alien loan requirements:

• Borrowers must hold a 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 (may be higher for other mortgage options)
• U.S. credit history required
• May need a U.S.-based co-signer

Benefits of Getting a Foreign National Loan in Illinois

Some of the key benefits of getting a foreign national loan in Illinois include:

• No Social Security number required
• No FICO score required
• Flexible income verification options
• Loan amounts of up to $5 million
• Flexibility to purchase second home, vacation home, or investment property
• Unlimited cash out
• DSCR loan options available for investment properties

Those looking to get an ITIN home loan in Illinois will enjoy a smooth lending experience when working with Griffin Funding.

How to Apply for a Foreign National Mortgage Loan in Illinois

In order to apply for a foreign national loan in Illinois, you’ll need to follow these basic steps:

1. Meet with a mortgage strategist: Schedule a consultation to discuss your loan options and see what you qualify for.
2. Provide proof of income and creditworthiness: Prepare documentation that provides proof of income, employment, and creditworthiness.
3. Fill out a loan application: Complete an official loan application.
4. Get pre-approved and lock in your rate: Once you complete an application and get pre-approved, you’ll be able to lock in your rate on your ITIN mortgage loan in Illinois.
5. Complete the underwriting process: Our team will complete the underwriting process and you’ll likely be required to schedule an appraisal and pest inspection.
6. Close on your loan: Once underwriting is complete, you can close on the loan and funds will be disbursed.

See If a Foreign National Loan in Illinois Is Right for You

At Griffin Funding, we offer a range of foreign national lending options in Illinois. Whether you’re in search of a traditional mortgage product or want to get a home loan with your ITIN number in Illinois, we can help. Our team provides excellent customer service and a streamlined application process, so you can move through the lending process quickly.

Compare your mortgage options and access smart financial management tools with the Griffin Gold app. Use the app to get one-on-one support from one of our mortgage professionals or reach out to us directly to discuss your loan options.

Ready to get started with an ITIN home loan in Illinois? Start your journey online today.