ITIN 贷款 vs Conventional 房贷：新移民如何选房贷？

ITIN Mortgage Loan 是 portfolio 或 non-QM 产品，面向使用 Individual Taxpayer Identification Number（ITIN）报税但无 Social Security Number 的 borrower。IRS 向无 SSN 但有 US tax obligation 的个人发放 ITIN。ITIN loans 不在 Fannie Mae/Freddie Mac conforming channel——由 community banks、credit unions、Community Development Financial Institutions（CDFIs）或 portfolio lenders 持有在 balance sheet 或 sell to private investors。Underwriting 常 accept alternative credit documentation：12–24 months rent payment history（cancelled checks 或 landlord verification letter）、utility payment records、bank statements showing consistent deposits。Income verification 通常 via tax returns filed with ITIN（2+ years preferred）。Down payment 通常 15–25%——高于 conventional 以 compensate for non-standard credit profile。Interest rate 通常比 conforming conventional 高 0.5–2%（因 lender、LTV、down payment 而异）。Both primary residence 和 investment property 可能有 ITIN programs——terms vary significantly by lender。Fair lending note：ITIN lending 须 comply with ECOA 和 Fair Housing Act——不得基于 national origin 非法歧视；ITIN 是 valid tax identification for lending purposes when properly documented。

Conventional Mortgage 指 conforming to Fannie Mae/Freddie Mac guidelines 的 loan——须 valid SSN、tri-merge credit report with FICO score、standard income documentation（W-2 for employees、1099/tax returns for self-employed）。Minimum credit score typically 620（lender overlay may require 640+）；best rates at 740+。Down payment as low as 3%（HomeReady/Home Possible）或 5% standard——LTV > 80% requires PMI。Sold on secondary market to GSEs——broad lender availability 和 competitive pricing。Documentation standard：2 years tax returns、recent pay stubs、2 months bank statements、employment verification。Work authorization：lenders 须 verify legal ability to repay——documentation requirements vary by immigration status and lender policy（consult lender and immigration attorney for specific situation）。For immigrants who obtain SSN after ITIN period：conventional refi 可 significantly reduce rate 和 monthly payment——「graduation」from ITIN to conventional is common goal。PMI cancellable under HPA at 78%/80% LTV。