Do ITIN Loans Have Any Drawbacks?
For the most part, ITIN mortgages’ benefits far surpass their drawbacks. But you may need to make a higher down payment with this type of loan then you would for some other types of mortgages.
Even though your interest rate for an ITIN loan will probably be lower than it would be for a hard money loan, it will probably be a little higher than it would before a conventional mortgage.
What Can You Buy With an Ohio ITIN Loan?
You can use an ITIN loan to purchase a single family home, a condo, a 2-3 unit residential building, or a townhouse.
Most lenders who handle ITIN loans do so for primary residences, but some also allow you to purchase a second home or investment property using this type of mortgage.