ITIN vs Foreign National Investment Loans
These programs are often confused but address different borrower profiles. An ITIN borrower lives in the United States and files US taxes — they just lack a Social Security Number. A foreign national lives abroad. Documentation requirements, LTV caps, and pricing differ accordingly.
ITIN DSCR Loan
US-resident investor without an SSN.
Best for: Long-term US residents with an Individual Taxpayer Identification Number.
Pros
- +Lower down payment than foreign national (15–25%)
- +Better rates than foreign national
- +Standard US-resident reserves apply
Cons
- −Requires 2 years of US tax filings under the ITIN
- −US credit history preferred
Foreign National DSCR Loan
Non-US-resident investor.
Best for: Investors who live outside the US.
Pros
- +No US credit, no US tax returns required
- +Foreign credit references accepted
- +LLC and foreign-entity title structures supported
Cons
- −Higher down payment (25–30%)
- −Higher rate (typically 0.5–1.5% premium)
- −Reserves must be seasoned in US bank 30–60 days pre-close
| Field | ITIN DSCR Loan | Foreign National DSCR Loan |
|---|---|---|
| Min FICO | 640–660+ (or alt credit) | Foreign reference letters or no FICO |
| LTV (purchase) | Up to 75–80% | Up to 70–75% |
| LTV (cash-out) | Up to 70% | Up to 65–70% |
| Income docs | DSCR | DSCR |
| Term | 30-year fixed | 30-year fixed |
| Time to close | 30 days | 30–45 days |
Which one should you choose?
- ITIN DSCR Loan: choose ITIN if the borrower lives in the United States and has an ITIN.
- Foreign National DSCR Loan: choose foreign national if the borrower lives abroad with no US tax filings.
- For a borrower with an ITIN who has been abroad more than 2 years, a foreign national program may apply better — the ITIN is current but the documentation profile matches a non-resident.
Frequently asked questions
Can a foreign national get an ITIN to access ITIN-program pricing?
They can apply for an ITIN, but ITIN program eligibility usually requires 2 years of US tax filings under the ITIN. So the ITIN alone does not unlock those programs immediately.
Do both allow LLC closings?
Yes, both programs support LLC title. Foreign national also supports foreign-entity title with US registered agent.
Which has the lower rate?
ITIN, by 0.5–1%. The borrower has more documentation depth (US tax filings, US credit, US-bank reserves) than a foreign national.
Not sure which fits your scenario?
Tell us the deal — we'll come back with the right product and current pricing.
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ITIN DSCR
DSCR investment property loans for borrowers with an ITIN instead of a Social Security Number. No US tax returns. Qualify on rental income.
Foreign National
Investment property loans for non-resident foreign nationals. No US credit, no US income, qualify on rental income. Close in your name or LLC.
No-Ratio DSCR
No-ratio DSCR investment property loans. Qualify even if rent does not cover the mortgage payment. Higher down payment in exchange.