Financing options for buyers without social security numbers

[J Brown]

Hi all,

Looking for some advice on a seller financing proposal.

I recently rehabbed a home in Houston, TX and have received a couple of seller financing offers above the ARV/ list price. Seller financing and ITIN lending seems to be the norm in this area due to buyers in lacking the ability to use traditional financing (usually because they don't have social numbers).

My question does anyone have any guidance around structuring a seller financing deal for a home that was recently rehabbed using a hard money lender? Should I refinance and then offer seller financing? If so, what are standard terms?

Follow-up question is does anyone know of any good ITIN lenders I can point some of the interested buyers towards?

 Any advice would help. Thanks in advance.

[Brian Fung]

Aloha J, 

I noticed no one responded to you here. If your ITIN borrowers are looking to purchase the home as their primary residence, I don't have a good answer for you. I work exclusively with real estate investors so can't speak to consumer loans. That said, if you have clients that need long term debt and are investors, there are programs for foreign national real estate investors that could work. 

I hope this helps you. Mahalo.