Are you an immigrant and need money? Get a loan with an ITIN number

The ITIN number is the identification number of a taxpayer, issued by the Internal Revenue Service. It is special for foreigners and peop...

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The ITIN number is the identification number of a taxpayer, issued by the Internal Revenue Service. It is special for foreigners and people who are not residents in the country.

Obtaining this number has a maximum cost of $ 200, although some people decide to get this document independently, thus being a free procedure.

Can you get a personal loan with an ITIN number?

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The good news for people who want to access a loan, but whose immigration status is not yet regulated, is that the ITIN serves as an official document to obtain a benefit of this type.

However, the ITIN number is not a pass to obtain benefits like the personal loan, since the conditions of the lender and the credit history of the taxpayer will also be taken into account.

How to process the ITIN?

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First, it will be necessary to fill out the form W-7 (SP) requesting the personal identification number of the taxpayer of the internal tax service, as well as provide the federal income tax return.

Subsequently, the taxpayer must include the original documents or copies of the certificates issued by an authorized agency, with which the identity and alien status of the applicant will be verified.

Steps to obtain a personal loan with ITIN

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1 Meet the requirements

To apply for the ITIN number, it is necessary to present an official identification, which can be the passport, an identification issued by the country of origin, a driver’s license from the United States or the country of origin, and a birth certificate

It will also be essential to fill out the form W-7 (SP) application for the personal identification number of the taxpayer of the internal tax service, and a tax return.

2 Apply

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Steps to applyar are simple, since, after completing the application form, the applicant must send said document, as well as the required identifications, to the central office.

It is also possible to apply through a Certified Acceptance Agent, who will make sure to gather all the necessary papers and send them to the corresponding authorities, giving adequate follow-up.

3 Get approved

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Usually after applying, the taxpayer will receive a letter from the IRS, where a tax identification number will be assigned within a period of no more than seven weeks, as long as the request has been favorable.

To follow up on the application, the taxpayer may communicate by telephone inside and outside the United States to be notified about the status of their application; this, after having confirmed the sending of all the documents.

4 Start of refund

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The IRS platform has access to accurate and real-time information on the refund status of all returns. To consult it, the taxpayer must have on hand information such as:

Marital status for the tax return, ITIN number and the exact amount of the refund. The minimum term for this type of consultation is 24 hours, but the time will vary depending on the means by which the procedure has been carried out.

Banks that give personal loans with ITIN

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1 Loan with Oportun

With Oportun, you can request loans of between $ 300 and $ 10,000, with APR rates that, according to their policies, will never exceed 36%, which makes it ideal for most users.

Oportun requests proof of age of majority (over 18 years), a document such as the social security number or ITIN, proof of income and the address where the beneficiary lives.

2 Aura

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Aura loans are recognized by most of the Latino community, as they focus on lending amounts that do not exceed $ 4,000 with extremely low interest rates.

Although currently its operations have ceased, the maximum interest rate that this institution charged was 36%, which represents a favorable aspect for the beneficiaries. In addition, it is one of those that accept ITINs.

3 Loan with Financial Support

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Financial Support is a financial institution that only serves the state of California; however, it is a lender that allows access to certain amounts of money without requiring a social security number.

The amounts established by Financial Support range between 750 and 10,000 dollars, and the credit rates depend on the credit history of the applicant, with the maximum APR rate being 36%.

4 Loan with Ace Cash Express

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With Ace Cash Express, taxpayers with an ITIN number will be able to access credit cards, personal loans and different services, but their interest rates are usually around 40%.

As a favorable fact, Ace Cash Express is one of the largest lenders in the United States, and allows you to obtain amounts from 100 to 4,000 dollars, which is a great benefit for people who have an ITIN number.

5 Loan with Wells Fargo

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With Wells Fargo, the taxpayer with an ITIN number can apply for a credit or personal loan in the United States, with low interest rates compared to others in the market, which also allows the taxpayer’s debts to be consolidated.

Regarding interest rates, Well fargo charges an approximate between 5.24% and 24.99%. If you want to access a personal loan with this institution, the ideal is to have a credit score of 660 and apply online or by phone, in addition to going to a branch.

The post Are you an immigrant and need money? Get a loan with ITIN appeared first on Hispanic World.