I need a letter to submit with my ITIN application. The IRS needs a letter from a lender stating that I will need an ITIN in order for me to obtain the ITIN so I can borrow for Real Estate here in the US (I am Canadian) Can any offer a solution or suggestion. THe IRS requires the lender to ask me for the ITIN but they will only provide it if I give them a letter reminding of them of their owns rules…go figure The government makes me crazy.
Joanne D
JD,
There are very few lenders that accept ITIN numbers. Of those few I only know of one that has a retail division. Can your broker not write you the letter? I am working on the same type of scenario right now. The ITIN situation is a total catch-22. You need income to get it, but you can’t get income unless you have it.
Why not just use a lender that specializes in Foreign National Investment loans? If you have 20% down, good credit in Canada, documentation of your income and assets from Canada then you should be ok.
Wills send over an email.
I don’t have a mortgage broker yet. We just arrived here from BC.