Texas ITIN Mortgage Lenders Income options are as Follows –
Option A – Copy of Valid ITIN Card 2yrs w2s, paystubs, 2 yrs tax returns, 30 days of paystubs 4506
on all of it max LTV 90%, 660 SCORE
ALT Doc Reduced LTV
Option B – Copy of Valid ITIN Card, fully executed VOE from the employer, 2 years tax returns, 4506
on tax returns only Max 85% LTV
Option C – copy of ITIN Card, 2 years w2s, and 30 days of Paystubs, 4506 on W2s only Max 85% LTV
NOTE: ITIN Mortgage Lenders will be adding a 24 &12 mos bank statement option for 2 yrs self employed.
Listing Seasoning For all cash-out refinances, properties previously listed for sale should be seasoned at
least 6 months from the listing contract expiration date.

TEXAS ITIN MORTGAGE LENDERS REQUIREMENTS UPDATE

• Down to a 620 FICO – FULL DOC 
• 660+ FICO for 90LTV
• FNMA loan limits
• OO Primary Only
• 43DTI
• No Visa or EAD Required
• Must have a valid ITIN # and ID
• Full Doc only
• Sellers assist allowed
• SFR, 2-4 Units, Townhomes, Warrantable Condos
• ITIN# & SSN on W2 does not have to match – MAX 85%LTV

Texas ITIN Mortgage Lenders Borrower Eligibility
Eligible:
∙ Must have a Valid ITIN
∙ DACA eligible with ITIN / SSN with Valid US drivers license
∙ If multiple borrowers, one borrower must have ITIN
In-Eligible:
∙ Irrevocable or Blind Trusts
∙ Inter-Vivo Revocable Trust
∙ Limited partnerships, general partnerships, corporations
Max DTI – 43%

Income Texas ITIN Mortgage Lenders Documentation –
Full Documentation
A minimum of two (2) years employment and income history
∙ Gaps in employment in excess of 30 days during the past two (2) years require a satisfactory
letter of explanation and the borrower must be employed with their current employer for a
minimum of six (6) months to qualify.
∙ For a Borrower who has less than a two-year employment and income history, the Borrower’s
income may be qualifying income if the Mortgage file contains documentation to support that
the Borrower was either attending school or in a training program immediately prior to their
current employment history. School transcripts must be provided to document.

IRS Form 4506-T / ITIN Mortgage Lenders Tax Transcripts∙

A completed, signed, and dated IRS form 4506-T must be completed for all borrowers at closing
whose income is used to qualify for the mortgage.
∙ The 4506-T must be processed, and tax transcripts obtained (for each year requested) to
validate against all tax returns used for qualifying and/or W-2 forms. For self-employed
borrowers, this applies to both personal and business returns (for businesses where borrower(s)
has 25% or more ownership) regardless of whether income is used to qualify, a separate form
must be filled out for each business entity.
Documentation ITIN Mortgage Lenders requirements:
∙ Pay Stub – 1 full month with YTD earnings
∙ W-2’s and/or 1099’s – prior two (2) years for all borrowers
∙ 1040’s – prior two years, including all pages, schedules, statements
∙ Year to date Profit and Loss Statements and Balance Sheets are required for all self-employed
borrowers (in addition to two years of tax returns)
∙ K-1’s on all corporations and Schedule E business entities prior two years
∙ Business returns on all Corporations and Schedule E business entities prior two years if
ownership is > 25%, including all pages, schedules, statements
∙ 1120S, 1120 and 1065’s – prior two (2) years if General Partner and/or percentage of
ownership is > 25%, including all pages, schedules, Statements
Income options are as Follows –
Option A – Copy of Valid ITIN Card 2yrs w2s, paystubs, 2 yrs tax returns, 30 days of paystubs 4506
on all of it max LTV 90%, 660 SCORE
ALT Doc Reduced LTV
Option B – Copy of Valid ITIN Card, fully executed VOE from the employer, 2 years tax returns, 4506
on tax returns only Max 85% LTV
Option C – copy of ITIN Card, 2 years w2s, and 30 days of Paystubs, 4506 on W2s only Max 85% LTV
NOTE: ITIN Mortgage Lenders will be adding a 24 &12 mos bank statement option for 2 yrs self employed.
Listing Seasoning For all cash-out refinances, properties previously listed for sale should be seasoned at
least 6 months from the listing contract expiration date.
Cash out seasoning is 12 mos
Max Cash OUT 65%

Credit ITIN Mortgage Lenders
∙ All accounts must be current at time of closing except as noted below.
∙ Consumer Debt – Max 1×30 on non-mortgage debt, no rolling lates* & no open collections, no charge
offs within the last 24-months except medical
∙ Collections/Charge Offs – Charge offs must be seasoned at least 24 months and collections must be
paid in full
∙ LOE(s) required for all adverse credit and must reflect extenuating circumstances that have been cured
∙ All tax liens and payment plans must be paid-off prior to or at closing.
∙ Identification: Borrower(s) must have valid unexpired ID, such as Driver’s License, Visa or Passport.
Tradeline Requirements:
∙ 3 tradelines reporting for 12+ months with activity in last 12 months or 2 tradelines reporting for 24+
months with activity in last 12 months; Required for loans with an LTV > 80%
∙ Non-Traditional Credit Accepted for LTVs <= 80% – See Non-Traditional Credit section for limited trade
borrowers must still have a credit score
 12 months housing history is required.
 If a borrower’s mortgage or rental history is not reported on the credit report, alternative
documentation showing the most recent 12-month history
o (cancelled checks, mortgage/rental statements including payment history, etc.)
must be provided.
 Private landlord VORs may be considered on a case by case basis.
 LOE or rent-free letter is required when a 12 month housing history is not applicable
maximum 80 LTV with no rent history
 Private party promissory notes must be provided
Non-Traditional Credit
Only allowed for LTVs <=80%
The credit history must include three (3) credit references, including at least 2 from option 1 (below)
covering the most recent 12 months’ activity from date of application. Option I references should be
exhausted prior to considering Group II (below) for eligibility purposes, as Option I is considered more
indicative of a borrower’s future housing payment performance.
Option I: – Rental housing payments. This includes payments made to a landlord or management company. Also
included are payments made on a privately-held mortgage loan that is not reported to the credit
bureaus, contract for deed payments and other similar arrangements, provided the payments are
related to the borrower’s housing.
– Utilities, such as electricity, gas, water, telephone service, television, and internet service providers. If
utilities are included in the rental housing payment, they cannot be considered a separate source of
nontraditional credit. Utilities can be considered a source of nontraditional credit only if the payment
history can be separately documented.
Option 2:
Insurance coverage, i.e., medical (excluding payroll deductions), auto, life or renter’s insurance;
payment to child care providers; school tuition; retail stores — department, furniture, appliance stores or
specialty stores; rent-to-own; payment of medical bills not covered by insurance; Internet/cell phone
services; a documented 12-month history of saving by regular deposits, resulting in an increasing
balance to the account; automobile leases, or a personal loan from an individual with repayment terms
in writing and supported by canceled checks.
Gift Funds
 Gift Funds are acceptable if ONE of the following applies
o A 10% down payment has been made by the borrower from their own resources
o 100% Gift Funds are allowed for loans only with a maximum LTV of 75% o/o only.
Borrower(s) must meet reserve requirements.
o Fannie Mae guidelines should be used for donor relationship to borrower(s),
documentation, proof of funds, and evidence of receipt;
o Gift funds may not be used to meet reserve requirements.
 Gift of Equity allowed for Primary Residence only and 75% maximum LTV. Must meet all other
guidelines for Gift Funds.
Rate and Term
Proceeds from the transaction are used to pay off an existing first mortgage loan and any subordinate
loan used to acquire the property.
Any subordinate loan not used in the acquisition of the subject property provided one of the following
apply:
1. Closed end loan, at least 12 months of seasoning has occurred;
2. HELOC, at least 12 months of seasoning has occurred and total draws over the
past 12 months are less than $2,000.
3. Buying out a co-owner pursuant to an agreement. 

4. LTV/CLTV based upon the appraised value.
CASHOUT
o For properties owned 12-months or longer, the LTV/CLV is based upon the appraised
value.
o If Cash-Out Seasoning is 7-11 months, the transaction property value is limited to the
lower of the current appraised value or the property’s purchase price
Plus documented improvements
 Cash-Out Seasoning of 6 months or less is allowed with only the following
o Delayed Financing – Cash-out on properties purchased by the borrower with
cash and owned less than 6 months is allowed.
The following requirements apply:
 Original transaction was an arm’s-length transaction
 Settlement statement from purchase confirms no mortgage financing used to acquire
subject
 Source of funds used for purchase documented (gift funds may not be included)
 New loan amount can be no more than the actual documented amount of the
borrower’s initial investment in purchasing the property plus the financing of closing
costs, prepaid fees, and points on the new mortgage loan
 All other cash-out refinance eligibility requirements must be met
 No waiting period if the borrower acquired the property through an inheritance, or was
legally awarded the property through divorce, separation, or dissolution of a domestic
partnership.
ASSETS
Checking and Savings Accounts
∙ The two (2) most recent, consecutive months’ statements for each account are required.
∙ Large deposits inconsistent with monthly income or other deposits must be verified.
Marketable Securities
∙ Two (2) most recent, consecutive months’ stock/securities account statements are required.
∙ 70% of stock accounts can be considered in the calculation of assets for closing and reserves.
∙ Non-vested or restricted stock accounts are not eligible for use as down payment or reserves.

Earnest Money Deposit (EMD)
Earnest money deposit (EMD) must be sourced and verified on all loans
Retirement Accounts
∙ Most recent retirement account statement covering a minimum two (2) month period.
∙ Evidence of liquidation is required when funds are used for down payment or closing cost
∙ 60% of the vested value of retirement accounts, after reduction of any outstanding loans, may be
considered toward the required reserves.
∙ Excluding 401k’s & IRA’s, verification of the terms of liquidation if funds are used for reserves
∙ Retirement accounts that do not allow any type of withdrawal are ineligible for use as reserves.
Business Funds
∙ The borrower’s withdrawal of cash from a business may not have a severe negative impact on the
business’ ability to continue operating. If a borrower is trying to use business funds for closing/down
payment or reserves, an analysis must be completed by the underwriter to ensure the cash withdraw
will not impact the business.
Borrower(s) must be 100% owner and the following is required:
∙ Cash flow analysis required using 3 months’ business bank statements to determine no negative impact
to business based on withdrawal of funds
∙ A letter from the borrower(s) accountant must include the following statements or comments:
∙ The borrower has access to the funds.
∙ The funds are not a loan.
∙ The accountant may not be related to the borrower or be an interested party to the
transaction.
Ineligible Assets:
∙ Grant Funds
∙ Pooled Funds

∙ Builder Profits
∙ Cash on Hand

∙ Unsecured loans
∙ No Employer Assistance Assets

∙ Sale of an asset other than real property or publicly traded securities
Reserves 6 months reserves seasoned 60 days
∙ Non-vested or restricted stock accounts are not eligible for use as down payment or reserves.
Retirement Accounts:
 60% of the vested value of retirement accounts, after reduction of any
outstanding loans, may be considered toward the required reserves.
Excluding 401k’s & IRA’s, verification of the terms of liquidation if funds are used for reserves
 Retirement accounts that do not allow any type of withdrawal are ineligible for
use as reserves.
 Gift funds must not be used to meet reserve requirements.
 Cash out proceeds may be used for reserves.
Bankruptcy
Chapter 7 and 11:
Chapter 7 and Chapter 11 bankruptcies must be discharged for a minimum of 36 months from closing
date. Seasoning is measured from the month and year of
discharge.
Chapter 13:
Chapter 13 bankruptcies must be discharged for a minimum of 36 months from closing date. Seasoning
is measured from the month and year of discharge. If
the Chapter 13 bankruptcy was dismissed, 36 months’ seasoning is required from the date of the
dismissal.
Age of Documents
Credit Report/Credit Documentation: 90 days old at the time of closing
Income and Asset Documentation: Dated within 90 days of closing
Title Report/Title Commitment: Dated no later than 90 days prior to closing
Appraisal
Full Interior / Exterior appraisal required. Fannie Mae/Freddie Mac Forms 1004/70, 1025/72, 1073/465
or 2090 must be used. All Fannie Guidelines apply to appraisal process and value determination, in addition an Appraisal Management Company must be
utilized for appraiser selection.
The Appraisal should be dated no more than 120 days prior to the Note Date. After a 120 Days period, a
recertification of value is acceptable up to 180 days.
After a 180 day period, a new appraisal is required. Re-certification of value is not acceptable. Minimum
Square Footage 800 Sq. Feet
Not eligible: Properties for which the appraisal indicates condition ratings of C5 or C6 or a quality rating
of Q5 or Q6, each as determined under the Uniform Appraisal
Dataset (UAD) guidelines. Texas ITIN Mortgage Lenders will consider if issue has been corrected prior to loan funding with
proper documentation.
APPRAISAL REVIEW PRODUCTS:
An enhanced desk review product called a CDA from Clear Capital, Appraisals are ordered from a ITIN Mortgage Lenders
Approved AMC is required on all transactions.
In lieu of an enhanced desk review product, a field review or second appraisal from a ITIN Mortgage Lenders AMC is
acceptable.
If the Appraisal Review Product value must meet the following requirement
A Purchase with an LTV <=70%, a 10% variance will be allowed.
Purchase with an LTV >70%, a 5% variance will be allowed.
Refinances allow for a 5% variance and LTVs >80% are not allowed any negative variance.
If any of these variances differ a second appraisal is required.
When a second appraisal is provided, the transactions “Appraised Value” will be the lower of the two
appraisals
Property Types
Eligible: Single Family Residences, PUDs, Townhouses, Condominiums (warrantable only), 2-4 Units
Ineligible: ∙ Non-Warrantable condos ∙ Acreage greater than 10 acres (appraisal must include total
acreage) ∙ Agricultural zoned property ∙ Condo hotel ∙ Coops
∙ Hobby Farms
∙ Income producing properties with acreage
∙ Leaseholds
∙ Log Homes
∙ Manufactured housing 

∙ Mixed use properties
∙ Modular homes
∙Properties subject to oil and/or gas leases
∙ Unique properties
∙ Working farms, ranches or orchards.
IPC
All seller concessions must be addressed in the sales contract, appraisal and Closing Disclosure, as
applicable, and be compliant with applicable federal and local state law. A seller concession is defined as
any interested party contribution beyond the stated limits, or any amounts not being used for closing
costs or prepaid expenses (i.e. funds for repairs not completed prior to closing is a seller concession). If a
seller concession is present, both the appraised value and sales price must be reduced by the concession
amount for purposes of calculating the LTV/CLTV/HCLTV.
Interested party contributions include funds contributed by the property seller, builder, real estate
agent/broker, mortgage lender, or their affiliates, or any other
party with an interest in the real estate transaction. Interested party contributions may only be used for
closing costs and prepaid expenses, and may never be
applied to any portion of the down payment or contributed to the borrower’s financial reserve
requirements.

Primary Seller Concessions
≤ 75%
6%
75.01% – 90%
3%

 Borrower should be prepared to provide non-traditional trade lines if confirmed at 80% LTV, or
traditional trade lines at 90% with a 660 FICO or better 85% with a 620 or better
 Borrower should not own any other real estate in their name for O/O
 Gift funds are allowed with 10% of their own funds
 DTI have to be 43% on the back end.
 ITIN Must be Valid
IF ITIN is 6 months away from being Expired Borrower needs to fill out new W-7 Form. ITIN Mortgage Lenders Will
check Borrower Credit reports All forms provided from employment.
Income options are as Follows –
Option A – Copy of Valid ITIN Card 2yrs w2s, paystubs, 2 yrs tax returns, 30 days of paystubs 4506
on all of it max LTV 90%
Option B – Copy of Valid ITIN Card, fully executed VOE from the employer, 2 years tax returns, 4506
on tax returns only Max 85% LTV
Option C – copy of ITIN Card, 2 years w2s, and 30 days of Paystubs, 4506 on W2s only Max 85% LTV
EAD card is not required but ITIN must be valid at time of loan closing.

NOTES:
 Borrower should have at least 2 years consistent ITIN payments (Reporting) to IRS
 Borrower should be prepared to apply for a $125,000. Minimum loan size
 Borrower should be prepared to put at least 10 down (If Borrower have a double SSN we will
decrease LTV 5%)
 Borrower should be prepared with 6 months reserves (seasoned/sourced for 2 months)
 Borrower should be prepared to provide VOR or 12 months cancelled checks to prove rental
history (other options can be used)

Texas ITIN Mortgage Lenders Min Credit Requirements  
∙ All accounts must be current at time of closing except as noted below.
∙ Consumer Debt – Max 1×30 on non-mortgage debt, no rolling lates* & no open collections, no charge
offs within the last 24-months except medical
∙ Collections/Charge Offs – Charge offs must be seasoned at least 24 months and collections must be
paid in full
∙ LOE(s) required for all adverse credit and must reflect extenuating circumstances that have been cured∙ All tax liens and payment plans must be paid-off prior to or at closing.
∙ Identification: Borrower(s) must have valid unexpired ID, such as Driver’s License, Visa or Passport.

ITIN Mortgage Lenders Tradeline Requirements:
∙ 3 tradelines reporting for 12+ months with activity in last 12 months or 2 tradelines reporting for 24+
months with activity in last 12 months; Required for loans with an LTV > 80%
∙ Non-Traditional Credit Accepted for LTVs <= 80% – See Non-Traditional Credit section for limited trade
borrowers must still have a credit score
 12 months housing history is required.
 If a borrower’s mortgage or rental history is not reported on the credit report, alternative
documentation showing the most recent 12-month history
o (cancelled checks, mortgage/rental statements including payment history, etc.)
must be provided.
 Private landlord VORs may be considered on a case by case basis.
 LOE or rent-free letter is required when a 12 month housing history is not applicable
maximum 80 LTV with no rent history
 Private party promissory notes must be provided.

Non-Traditional ITIN Mortgage Credit
Only allowed for LTVs <=80%
The credit history must include three (3) credit references, including at least 2 from option 1 (below)
covering the most recent 12 months’ activity from date of application. Option I references should be
exhausted prior to considering Group II (below) for eligibility purposes, as Option I is considered more
indicative of a borrower’s future housing payment performance.

ITIN Texas Mortgage Lender?
An ITIN Texas Mortgage lender is a lender that uses Individual Taxpayer Identification Number ( ITIN Texas) is a tax processing number issued by the Internal Revenue Service. It is a nine-digit number that always begins with the number 9 and has a range of 70-88 in the fourth and fifth digit. Effective  ITIN Texass are issued regardless of immigration status because both resident and nonresident aliens may have a U.S. filing or reporting requirement under the Internal Revenue Code. ITIN Texas Mortgage lender use this number to verify and confirm borrowers stable predictable income for mortgage loan qualification. Individuals must have a filing requirement and file a valid federal income tax return to receive an ITIN Texas unless they meet the ITIN Texas exception. Application for Texas IRS Individual Taxpayer Identification Number to apply

Individual Taxpayer Identification Number (ITIN) Program
Borrower/Product Eligibility- Borrowers eligible under the ITIN Program are Resident Aliens who do not comply with the Non-Permanent Resident Alien program. They may purchase property for owner-occupied purposes only.

Credit- Credit will be pulled using borrower’s ITIN number and must have a minimum of two (2) FICO scores.

Tradelines-The minimum credit depth is three (3) acceptable trade lines aged to a minimum of two (2) years for LTVs
greater than 70%. Only one (1) of the three (3) trade lines needs to be seasoned greater than two (2) years
for LTVs equal to or less than 70%. INTIN Mortgage Lenders have.  the discretion to determine the
acceptability of a trade line.

OFACA check will be run on all borrowers and any positive returns must be satisfactorily cleared.

Eligible Properties- The following property types are acceptable for financing provided they meet general property guidelines:

• Single Family Residence (SFR)
• Planned Unit Development (PUD)
• Low & High-Rise Condo
• Duplex, Triplex, & Fourplex (2-4 units)
Maximum LTV
The maximum LTV for the transactions are shown below:
• Purchase – 80%
• Rate/Term Refinance – 80%
• Cash Out Refinance – 75%

Minimum Loan Amount: $100,000- Maximum Loan Amount: $1,000,000

Texas ITIN Texas Mortgage Lenders – Loan Amounts & Downpayment!

• 10% Down up to 300k Texas ITIN Texas Mortgage Lenders.
• 20% down up to 400k Texas ITIN Texas Mortgage Lenders.
• 30% Down up to 500k Texas ITIN Texas Mortgage Lenders.
• 40% down up to 600k Texas ITIN Texas Mortgage Lenders.

Texas ITIN Texas Mortgage Lenders  – Purchase or Refinance

In order to qualify for an ITIN Texas loan in Texas, you will need to satisfy the ITIN Texas mortgage lenders requirements.  Most ITIN Texas mortgage lenders offering these programs will require proof the following:

• ITIN Texas card, state ID, drivers license, or passport.
• The most recent 2 years W2 or 1099 proof of stable predictable income.
• A down payment of at least 20-25% depending on the ITIN Texas Mortgage lender.
• A credit report or Proof of payment history.
• Your most recent 2 months bank statements

Texas ITIN Texas Mortgage Lenders Refinance
• If the property was purchased within 12 months of the application date, Property Value is equal to the lower of the sales price or appraised value. If the property was purchased more than 12 months prior to the application date, the property value is equal to the appraised value.
• For Texas homes where capital improvements have been made to the property after purchase, LTV/CLTV/HCLTV can be based on the lesser of the current
appraised value or original purchase price plus the documented improvements. Receipts are required to document cost of improvements.

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Texas ITIN Texas Mortgage Lenders Property Types

Eligible: Single Family Residences, PUDs, Townhouses, Condominiums (warrantable only)Property Types – All Condos FNMA Warrantable Only; Warrantable Types S, T or U • New condominium projects (Type R) with Condo Project Manager (“CPM”) or PERS approval • Site (detached) Condos • Limited Review is not eligible

Ineligible: 2-4 Units • Texas Non-Warrantable condos • Acreage greater than 10 acres (appraisal must include total acreage) • Agricultural zoned property • Condo
hotel • Co-ops • Hobby Farms • Income producing properties with acreage • Leaseholds • Log Texas homes • Manufactured housing • Mixed-use Texas properties • Modular
Texas homes • Properties subject to oil and/or gas leases •Unique properties • Working farms, ranches or orchards.

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Texas ITIN Texas Mortgage Lenders Income Documentation
A minimum of two (2) years employment and income history
• Gaps in employment in excess of 30 days during the past two (2) years require a satisfactory letter of explanation and the Texas ITIN Texas mortgage applicants must be
employed with their current employer for a minimum of six (6) months to qualify.
• For a Texas ITIN Texas mortgage applicants who has less than a two-year employment and income history, the Texas ITIN Texas mortgage applicants’s income may be qualifying income if the Mortgage file
contains documentation to support that the Texas ITIN Texas mortgage applicants was either attending school or in a training program immediately prior to their current
employment history. School transcripts must be provided to document.
IRS Form 4506‐T / Tax Transcripts
• A completed, signed, and dated IRS form 4506-T must be completed for all Texas ITIN Texas mortgage applicantss at closing whose income is used to qualify for the mortgage.
• The 4506-T must be processed and tax transcripts obtained (for each year requested) to validate against all tax returns used for qualifying and/or W-
2 forms. For self-employed Texas ITIN Texas mortgage applicantss, this applies to both personal and business returns (for businesses where Texas ITIN Texas mortgage applicants(s) has 25% or more
ownership) regardless of whether or not income is used to qualify, a separate form must be filled out for each business entity.

Texas ITIN Texas Mortgage Lenders Documentation requirements:
• Pay Stub – 1 full month with YTD earnings
• W-2’s and/or 1099’s – prior two (2) years for all Texas ITIN Texas mortgage applicants
• 1040’s – prior two years, including all pages, schedules, statements
• Year to date Profit and Loss Statements and Balance Sheets are required for all self-employed Texas ITIN Texas mortgage applicants (in addition to two years of tax returns)
• K-1’s on all corporations and Schedule E business entities prior two years
• Texas Business returns on all Corporations and Schedule E business entities prior two years if ownership is > 25%, including all pages, schedules,
statements
• 1120S, 1120 and 1065’s – prior two (2) years if General Partner and/or percentage of ownership is > 25%, including all pages, schedules,
statements

Texas ITIN Texas Mortgage Lenders Max Payment Shock
Payment shock is 150%

Payment Shock Calculation: Payment shock is a function of the percentage of the pay increase of a new payment when compared to a prior rental or housing monthly payment.

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Texas ITIN Texas Mortgage Lenders After Bankruptcy
Chapter 7 and 11:
Texas Chapter 7 and Chapter 11 bankruptcies must be discharged for a minimum of 36 months from closing date. Seasoning is measured from the month and year of discharge.
Chapter 13:
Texas Chapter 13 bankruptcies must be discharged for a minimum of 36 months from closing date. Seasoning is measured from the month and year of discharge. If
the Chapter 13 bankruptcy was dismissed, 36 months’ seasoning is required from the date of the dismissal.

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Texas ITIN Texas Mortgage Lenders Checking and Savings Accounts
• The two (2) most recent, consecutive months’ statements for each account are required.
• Large deposits inconsistent with monthly income or other deposits must be verified.
Marketable Securities
• Two (2) most recent, consecutive months stock/securities account statements are required.
• 70% of stock accounts can be considered in the calculation of assets for closing and reserves.
• Non-vested or restricted stock accounts are not eligible for use as down payment or reserves.
Earnest Money Deposit (EMD)
Earnest money deposit (EMD) must be sourced and verified on all loans
Retirement Accounts
• Most recent Texas retirement account statement covering a minimum of two (2) month period.
• Evidence of liquidation is required when funds are used for down payment or closing cost
• 60% of the vested value of retirement accounts, after reduction of any outstanding loans, may be considered toward the required reserves.
• Excluding 401k’s & IRA’s, verification of the terms of liquidation if funds are used for reserves
• Retirement accounts that do not allow any type of withdrawal are ineligible for use as reserves.
Business Funds
• The Texas mortgage applicant withdrawal of cash from a business may not have a severe negative impact on the business’ ability to continue operating. If a Texas ITIN Texas mortgage applicants
is trying to use business funds for closing/down payment or reserves, an analysis must be completed by the underwriter to ensure the cash
withdraw will not impact the business.
Texas ITIN Texas mortgage applicants(s) must be 100% owner and the following is required:
• Cash flow analysis required using 3 months business bank statements to determine no negative impact to business based on withdrawal of funds
• A letter from the Texas ITIN Texas mortgage applicants(s) accountant must include the following statements or comments:
• The Texas ITIN Texas mortgage applicants has access to the funds.
• The funds are not a loan.
• The accountant may not be related to the Texas ITIN Texas mortgage applicants or be an interested party to the transaction.
Ineligible Assets:
• Gift of Equity • Grant Funds • Pooled Funds • Builder Profits • Cash on Hand • Unsecured loans • No Employer Assistance Assets • Sale of an asset
other than real property or publicly traded securities Age of Documents
Credit Report/Credit Documentation: 90 days old at the time of closing
Income and Asset Documentation: Dated within 90 days of closing
Title Report/Title Commitment: Dated no later than 60 days prior to closing Texas

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Texas ITIN Texas Mortgage Lenders Appraisals
Full Interior / Exterior appraisal required. Fannie Mae/Freddie Mac Forms 1004/70, 1025/72, 1073/465 or 2090 must be used. All Fannie Guidelines apply to
appraisal process and value determination, in addition, an Appraisal Management Company must be utilized for appraiser selection.

The Appraisal should be dated no more than 120 days prior to the Note Date. After a 120 day period, a new appraisal is required. Re-certification of value is
not acceptable. Minimum Square Footage 800 Sq. Feet

Not eligible: Properties for which the appraisal indicates condition ratings of C5 or C6 or a quality rating of Q6, each as determined under the Uniform Appraisal
Dataset (UAD) guidelines. GreenBox will consider if issue has been corrected prior to loan funding with proper documentation.

TEXAS APPRAISAL REVIEW : An Appraisal Desktop Review (ARA) from Computer Share is required on all transactions.

Texas ITIN Texas Mortgage Lenders Seller Concessions
All seller concessions must be addressed in the sales contract, appraisal and Closing Disclosure, as applicable, and be compliant with applicable federal and local state law. A seller concession is defined as any interested party contribution beyond the stated limits, or any amounts not being used for closing costs or prepaid expenses (i.e. funds for repairs not completed prior to closing is a seller concession). If a seller concession is present, both the appraised value and sales price must be reduced by the concession amount for purposes of calculating the LTV/CLTV/HCLTV.
Interested party contributions include funds contributed by the property seller, builder, real estate agent/broker, mortgage lender, or their affiliates, or any other party with an interest in the real estate transaction. Interested party contributions may only be used for closing costs and prepaid expenses, and may never be applied to any portion of the down payment or contributed to the Texas ITIN Texas mortgage applicants’ financial reserve requirements.

When and Why should I apply for an ITIN Texas?
You should complete Form W-7 as soon as you are ready to file your federal income tax return, since you need to attach the return to your application.

If you meet one of the exceptions to the tax filing requirement, submit Form W-7, along with the documents that prove your identity and foreign status. You are also required to include supplemental documents to substantiate your qualification for the exception, as soon as possible after you determine that you are covered by that exception.

You can apply for an ITIN Texas any time during the year. However, if the tax return you attach to Form W-7 is filed after the return’s due date, you may owe interest and/or penalties. You should file your current year return by the prescribed due date to avoid this situation.

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