An ITIN mortgage is a mortgages given to a person or group of people with an individual taxpayer identification number. An ITIN number is issued by the IRS and is normally used for tax paying purposes only. Increasingly the ITIN number is being accepted by more financial institutions and it is now used for things like credit, mortgages and also opening bank accounts.

Usually an ITIN number is issued to undocumented US residents as a way of paying income taxes. Various banks are beginning to start mortgage programs to fit individuals with this number. Most of them are 30 year conventional loans. Rates are also usually higher than a normal conventional loan.

These loans were created to help people that have not yet obtained their social security number share in the American Dream. Because of the potential backlash of different organizations (which don’t believe in helping the undocumented), some of these loans aren’t advertised to the general public.

There is a large untapped market of potential ITIN mortgages. Any professional ignoring this community are potentially losing out on a lot of deals.