Tax ID Loans – New York
Your Trusted NY ITIN (Tax ID) Mortgage Lender
For Individual Tax Identification Number (ITIN) Loans, we are a lender you can trust. Here at Prysma, we help Non-US citizen families in New York to recognize their dream of homeownership.
Our specialty is with ITIN (Tax ID) loans for New York homeowners with products and lending solutions designed with First Time Home Buyers in mind. Refinances and more. You don’t need a Social Security or Green Card.
Our expert loan professionals work with you to discover your best rates and loan options. We’re dedicated to being your partner in New York home ownership.
Fill out our form or contact us today to determine if Tax ID loans may be the correct solution for you. (888) 743-9985
The 4 Steps to Homeownership in New York
Prysma is here for you during the entire home buying process no matter if it’s your first house or you’re relocating to New York. This easy 4-Step process will help you to own your home.
First, speak with one of Prysma’s licensed Mortgage Loan Originators for pre-qualification for a loan up to a specific amount to help you determine what price range that is right for you for a home. Our loan specialists will be sure to answer all of your questions help make sure your choice of loan option is the best for your needs.
Find Your Home & Make an Offer
After pre-qualification, start looking for your New York home. When viewing different home options, be sure you consider all various factors such as price, location, and neighborhood safety. After choosing the property, then make an offer and negotiate with the seller on the final sales price.
Once you have chosen your New York home and determine a sales price, then revisit Prysma’s licensed Mortgage Loan Originators to apply for and obtain the best loan for your new home. Your dedicated Mortgage Loan Originator will individually guide you through every step of the loan process.
closing & Moving in
When your offer is accepted and you’ve been approved for your mortgage, then prepare for closing and move into your new New York home!
Want to Learn More About ITIN Mortgages?
Why Borrowers Choose PRYSMA for ITIN Mortgage Loans in NY
Prysma Lending went above and beyond to help me with my loan. It’s hard to rely on a good lender now a days, with all the big corporate banks out there. Prysma provided me with Amazing service. I have been using them for over 10 years and couldn’t be happier.
– S. Johnson
Highly recommend Prysma! They were very professional and went above and beyond my expectations! They kept me informed and answered all my questions. A special thanks for Debora and Mark for their effort, even during their vacation they worked and made my closing happened.
– M. Breda
Prysma cares about their clients and works hard to demonstrate that with each closing!
– W. Bernard
Understanding ITIN Mortgage loans in New York
What is an ITIN (Tax-ID) Loan?
Tax ID loans are mortgage loans where Social Security or Green Cards are not required of applicants.
Who is An ITIN (Tax-ID) Loan For?
ITIN Loans were made for those who do not have a Social Security Number (SSN) but have an Individual Taxpayer Identification Number (ITIN). ITIN numbers are distinct identifiers to help you communicate with the Internal Revenue Service (IRS). Typically, ITIN numbers are provided to individuals by the IRS when they are ineligible for receiving a Social Security Number from the Social Security Administration (SSA).
What Do I need to Qualify?
- ITIN program only needs a valid copy of passport and copy of ITIN card
Minimum of 15% down payment
- 15% down qualified borrowers based on scores and income ratios. Down payment is from 20% to 30%
- Scores not required
- Borrowers are required 3 alternative tradelines for consideration and at least 25% down payment
- This is a full doc loan but 24 months Bank Statements may be used to qualify a borrower who is self-employed (PERSONAL BANK STATEMENTS ONLY OR DBA)
- For W2 borrower we use only W2 and pay stubs for qualification
- Max Debt To Income ratio is 43% but can go increase to 50% with compensating factors
- No required seasoning assets
What Are the Benefits of An ITIN (Tax-ID) Mortgage?
It may be difficult to achieve New York homeownership for Non-US citizens who live and work in the United States. Much of the immigrant population doesn’t have a social security number and has a short credit history. Often times, this disqualifies them from obtaining a conventional mortgage loan.
At Prysma, our work is to help these individuals in New York get an affordable ITIN mortgage lending program so potential New York homeowners with an ITIN (Individual Tax Identification number) rather then a Social Security number can buy their dream home.
How Do I Apply for a Tax-ID Loan in NY?
To apply for a Tax-ID Loan in NY, you must already have an ITIN number. Then you must get in touch with one of our Loan Originators here at Prysma Lending Group. Throughout the process, you have to complete forms including:
- Proof of a sustainable income
- Credit history
- Income verification
Your Prysma lender will then go over the details of the ITIN loan with you and go over your credit history. Once you’re approved, you can look for a new home that is within your pre-approved budget.