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Can You Get Loans Without an SSN?
Yes, it is possible to apply for a few different types of loans without an SSN (Social Security Number). Loan options that don’t require an SSN can include certain payday loans, personal loans, and title loans!
Generally, during a loan application, you must provide some personal information so that the lender can verify your identity, evaluate the risk of lending to you, and confirm that you have sufficient income to make loan payments. Most lenders use your SSN to run a credit check on you and verify your identity and financial history. Typically, you will need a Social Security Number to apply for a job, a loan, or a credit card.
However, some lenders, including certain banks, credit unions and title loan providers accept Individual Taxpayer Identification Numbers – also known as ITIN – for the loan application. An ITIN is a tax processing number that is issued by the Internal Revenue Service in the United States to qualified individuals. These individuals may not be eligible for an SSN from the Social Security Administration, but are issued an ITIN for federal tax purposes.
Typically, both resident and nonresident aliens can obtain an ITIN because they are issued to individuals regardless of immigration status. Keep reading to learn more about applying for loans without a Social Security Number!
What is a Social Security Number?
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A Social Security Number (SSN) is a unique, nine-digit number that is usually assigned to individuals at birth in the United States, allowing government agencies to identify them. Citizens, permanent residents, and temporary workers who are authorized to work in the United States can be assigned an SSN.
Your Social Security Number (or your Individual Taxpayer Identification Number) should be kept private. If the wrong person gets their hands on your SSN or ITIN, they can potentially steal your identity! An individual who obtains your Social Security Number or ITIN may be able to open credit accounts in your name. They can potentially file their taxes under your name as well, which may result in serious financial and legal consequences.
It’s important to keep your personal information safe! Make sure to store your SSN card or ITIN documents in a secure location in your home. You should also routinely monitor your credit reports and keep an eye out for any unauthorized activity.
What Types of Loans Can I Get Without a Social Security Number?
Are you searching for a way to get loans without an SSN? Although it may be more difficult to get a loan without a Social Security Number, it is possible to get a loan as an ITIN holder.
Here are some of the most common types of loans that can be available as an ITIN loan:
- Personal Loans: Usually, personal loans are unsecured, which means that a prospective borrower does not need to pledge an asset as collateral. Personal loans can be used to consolidate debt or pay for unexpected expenses, but they can be tough to qualify for if you do not have a strong credit history. If you have a bad credit score and manage to qualify for a personal loan as an ITIN holder, your interest rate and approved loan terms may be less compelling compared to borrowers who have an SSN. This is partially due to the fact that your creditworthiness plays a huge role in the application process for personal loans, and your credit history is likely not as extensive as an ITIN holder.
- Payday Loans: It is possible to apply for payday loans without an SSN. However, payday loans are short-term loans with high interest rates, so they may not be the best option for your finances in the long run. In fact, many financial experts advise against applying for payday loans if you need emergency cash. In most cases, a payday loan with ITIN is due on your next payday, which may not be enough time to come up with the money to pay it back in full.
- Car Title Loans: A car title loan is a secured loan that can be much more flexible than a personal loan. With a car title loan, you are pledging your car or truck as collateral for emergency funding! Many title loan options, including title loans serviced by LoanMart, are available to ITIN holders.¹
What Do I Need to Apply for Loans Without a Social Security Number?
Every loan application is different, but here are the general documents you will need to apply for most ITIN lending options:
- Personal Identification: Typically, you must show proof of a valid, government-issued photo identification card during your application. This document will be used to confirm your identity.
- Evidence of Income: You will need to provide proof of income so that the ITIN lender can confirm that you have the means to make loan payments. In most cases, you can provide bank statements, pay stubs, or proof of alternative income, like a disability award letter or pension statement.
- ITIN Documents: If you do not have a Social Security Number, you can submit proof of your ITIN during your loan inquiry. The Internal Revenue Service (IRS) should have sent you a letter confirming your ITIN when you applied for one. The letter can potentially be used to verify your ITIN if you have a copy on hand.
- Proof of Current Address: Generally, you can submit a few different types of documents to verify your current address, including recent bank statements, utility bills, or mortgage statements / lease agreements.
If you are applying for a car title loan without a Social Security Number, you may be required to provide additional documentation during your loan inquiry, such as:¹
- A Car Title in Your Name: Since you are using the title of a qualifying car to secure the loan, you will need to have a valid car title in your name in order to apply for a title loan. If the title is not in your name, call a title loan agent at 855-422-7412. They may be able to assist you and let you know more about the title transfer process at your state’s respective Department of Motor Vehicles.
- Recent Photos of Your Vehicle: If you are applying for an online title loan, a virtual vehicle inspection is typically required in order to obtain approval. Title lenders will use a virtual vehicle inspection to verify your vehicle’s value and current condition. If you are applying for an online title loan serviced by LoanMart, a virtual inspection will consist of you supplying your title loan agent with a few recent photos of your vehicle! You can expect to provide pictures of all sides of your car, including the front and back. Additionally, you will need to submit pictures of your VIN (Vehicle Identification Number) and the odometer reading, which is usually located on the dashboard.
If you want to apply for a car title loan without an SSN, you must also meet the other loan requirements, which can vary by lender.¹
Do I Need a Bank Account to Apply for Loans Without an SSN?
You do not need a bank account to apply for title loans serviced by LoanMart with an ITIN. Additionally, you do not need a bank account to repay your title loan either! As long as you can prove your income without a bank account, you will not need one to apply for the financial assistance you need.¹
If you qualify for an ITIN car title loan serviced by LoanMart, you can receive your loan proceeds through a check in the mail. Or, you can pick up your money at any participating money transfer location near you!¹
There are many ways to repay your title loan serviced by LoanMart without a bank account, including the following:
- Pay by Phone
- Pay Online Through Your Account
- Visit a Participating Money Transfer Location to Pay Your Loan in Person
Can I Apply for an Instant Loan With No SSN?
Do you need an instant loan with no SSN? You can apply for a title loan without a Social Security Number today by completing the online application. You can find out if your car is pre-qualified in just minutes!¹ ³
With a title loan serviced by LoanMart, eligible borrowers will be able to access their title loan proceeds in as little as 24 hours- even if they do not have a Social Security Number!¹ In some cases, a qualified ITIN holder will be able to access their loan funds the same day they apply. Call 855-422-7412 to learn more about the title loan application process without a Social Security Number! LoanMart’s title loan agents are available 6 days a week for extended hours to help you out.¹
Where Can You Get a Loan Without a Social Security Number Online?
If you want to apply for personal loans without an SSN, you can usually apply at a bank or credit union in person. Many Americans prefer the convenience of online shopping – so why not apply for a car title loan without an SSN online?
There is no store visit required to apply for the financial help you’re searching for! Here’s a closer look at the convenient, three-step application process for a title loan with an ITIN only:
- Apply Online or Over the Phone: The first step of the application process is to submit a loan application. You can start your application online or by calling 855-422-7412.¹ ³
- Send in a Few Documents: If you are prequalified, you will be asked to submit a few documents to verify the value and condition of your vehicle and your information. With a car title loan serviced by LoanMart, you can conveniently upload all of the required documents online with no hassle! Additionally, you can email or text your documents to a LoanMart title loan representative if you prefer.¹
- Choose How to Get Your Money: Upon final approval, the last step of the application process is to review and sign your loan contract and choose how to get funded. Once your loan agreement is signed and you’ve mailed your title, you can receive your emergency funding in the manner you chose!¹ ³
You can get a loan without a Social Security Number online! Call a title loan agent at 855-422-7412 to learn more about the convenient application process and find out if you qualify for instant pre-approval with your ITIN. Eligible borrowers can get their title loan proceeds in as little as one business day!¹ ³ Apply for loans without an SSN today!
