If you are a citizen without a social security number, you now have an opportunity to take advantage of a TIN mortgage. These loans are your ticket to get that mortgage that previously you were unable to attain without a ssn.
One thing that sets TIN mortgages apart from traditional mortgages are their rates. It is important to shop around and find the best rates for you. Some common questions that arise when dealing with TIN mortgage rates are:
- Who Sets The TIN Mortgage Rates?
- What Are Low Interest Rates?
- What Are The Benefits of Applying With A TIN?
Who Sets The TIN Mortgage Rates?
TIN mortgage rates are set by TIN approved lenders and brokers. Because loan rates are set by different lenders they may vary according to the lender. This is why it is important to shop around to find the best rates. Other factors might also affect the TIN loan rates such as the economy and financial markets, similar to what other conventional mortgage rates do. For more information about Lenders, and how to find the right one for you, click here.
What Are Low Interest Rates?
You will always pay higher rates than a typical mortgage because you do not have a ssn. With traditional mortgages an individuals credit score has a big impact on the rate they pay. So when looking at different rates, one your rate will always be higher than a traditional mortgage rate, and two there will still be different lenders that offer lower rates on the TIN mortgage rate scale. So make sure you really shop around and look at multiple lenders to get the lowest interest rate.
What Are The Benefits Of Applying With A TIN?
TIN mortgages are guaranteed from some smaller banks and credit unions because of the Patriot Act. The Patriot Act allowed people living in the united states without a social security number to get a tax identification number to have more rights and privileges living in the united states. These privileges include:
- Obtaining a drivers license
- Filing and paying annual taxes
- Obtaining a mortgage
There are more advantages to just those three but those are some of the most important. With your TIN you can now look for rates from many different lenders to offer you the best rate that fits your budget and goals.
TIN Mortgage loan rates can be confusing without the right resources. It is important to remember that TIN mortgage loan rates are set by each different lender. They can vary according to lender and due to the economy. That is why it is always important to look around for the best rate, The lower the rates the more money you can save, To find out more how we can help lower your interest rates and to get a free written quote, click here.
TIN mortgage rates will vary by lender. Here are current rates for a number of local lenders in your area. Click below to find out more.