ITIN
What is an ITIN?
Individual Taxpayer Identification Number — the IRS-issued tax ID for individuals who can’t obtain an SSN.
ITIN stands for Individual Taxpayer Identification Number. It is a nine-digit tax-processing number issued by the IRS to individuals who are required to file U.S. taxes but are not eligible for a Social Security Number (SSN). The format is similar to an SSN (xxx-xx-xxxx) and always begins with the digit 9.
ITINs are commonly held by foreign nationals investing in U.S. real estate, non-resident spouses of U.S. taxpayers, and other individuals with a U.S. tax filing obligation but no path to an SSN. Application is via IRS Form W-7.
An ITIN is for tax purposes only. It does not authorize work in the U.S., does not entitle the holder to Social Security benefits, and does not affect immigration status. It can, however, be used as a borrower identifier on certain non-QM mortgage programs.
How ITIN applies at Total Quality Lending
ITINs are accepted in lieu of SSN on TQL’s Foreign National DSCR program. Because DSCR qualifies on the property’s rental income (not the borrower’s tax returns), the absence of an SSN is not a disqualifier. Foreign National DSCR maxes at 70% LTV with a 680 FICO minimum, or a No Credit Score path is available using international credit references. ITIN holders can also vest in an LLC for asset protection.