A phone . If you have the necessary funds to repay the mortgage, then there is nothing inherently unsafe about a no-income verification mortgage. No tax returns! Lenders must fully document a borrower's ability to repay the loan either with income or assets. Most lenders also want to see a six-month reserve fund. Qualify For Your No-Doc Loan or Alternative Mortgage Loan Today. In the past, I had to deal with different companies that takes four to six months, after a lot of papers, to tell me no, for whatever reason, after ask me to send again and again my information, that is the same again and again. 680 minimum credit score I called Joelle in a panic, and she got me approved and saved my contract. First Name*. We're a favorite among self employed, business owner's and investor's unable or unwilling to use their tax returns to qualify for a mortgage. Whether you need an equity loan, purchase mortgage or refinance, Nationwide will help you find companies that continue to offer alternative lending with no income verification programs for qualified applicants. Lucrece was the best! Most property types considered! The best way to find out if a no income verification loan is the right financing choice is to speak with a MortgageDepot loan officer. Very professional. No Income Verification Mortgages From B-Lenders. Fixed rates/Adjustable. Ms. Meme made our dreams of owning a home come true! I would not have been able to do this without the hard work that these ladies have put in, especially after hours, to ensure that I could finally celebrate owning my first home. A no-income-verification mortgage does not require the borrower to provide the lender standard proof of income documents, such as pay stubs, W-2 forms and tax returns. From start to finish Joelle was there for us guiding us every step of the way. In this case, you could be a candidate for a no doc or no-income verification mortgage. A breakthrough in borrower qualification. There was absolutely no surprise in the settlement. Borrowers hoping to get a mortgage with a non-traditional source of income have options. Without her assistance and hard work none of this would have happened. Her professionalism was like no other. No Income Verification Mortgages . Would highly recommend RK Mortgage, they will be with you the whole loan process, difficult or easy loan. If their payments were on time, their credit scores were still good enough to get approved for a stated income loan. Joelle and Me'me were absolutely wonderful to work with. Can you get a mortgage without a verifiable income? To qualify for these types of loans, the lender looks at the value of the property after repairs are made and what its potential rent income will be. Facebook. Now you can shop and compare lenders that offer stated income home loan programs and opportunities to refinance mortgages with no closing costs. She is very professional and asks questions to help you make the best financial decision available. Thank you RK Mortgage Group Inc. We highly recommend them to anyone purchasing a home. Alternate names: Alternate income loan, alternative income . This is what RK Mortgage Group is. No documentation loans come with a few different variations. Fast, efficient process with minimum efforts. State income mortgages and no income loan programs are available but before you start counting your money, make sure that you qualify for. The service was top-notch, I believe that everyone working at RK Mortgage are team players with one goal in mind their client's success. Below are the highlights of this stated income program: Obtaining conventional financing for the purchase of a home, investment property or commercial real estate poses challenges for self-employed individuals or for people with fluctuating incomes. Specialties include: Portfolio lending, Investment property loans, mortgage for self-employed, Non-Conforming mortgage lending, and non-warrantable condos. Keep in mind that these types of no doc or limited doc loans will still have more stringent lending requirements than in the past. I couldn't be happier with Joelle and Me'Me. Highly recommend for anyone seeking mortgage assistance. She is very knowledgable about the mortgage industry and the various loan products that are available, She is also very responsive and goes the extra mile for her clients. That is it! Our experience with RK was wonderful from start to finish. I would highly recommend this company. No-income-verification mortgages are a type of nonqualified mortgage. Types of No Income Mortgages. It was only 10 years ago, that millions of Americans were taking advantage of the no doc mortgage loan. Foreign Nationals Eligible. But being self- employed doe have its setbacks, and for me this was one of them. When you are buying a house, it is imperative to get a pre-qualification or pre-approval letter from banks and lenders that have a strong reputation and who you feel comfortable with. My husband and I have been trying to buy a home for a very long time. Your loan payments can be interest only payments. While it was good that some of the most reckless no doc loans were banned, going too far in the other direction is also not good. My situation was unique and they helped me navigate through the steps all the way to the closing table. * Full-Document -Home Equity Loan up to $500,000. This is a benefit because that allows higher loan to value ratios. No income or job history verification required; No limit on the number of properties; Loan amounts up to $5,000,000; Unlimited cash out; As little as 20% on down payments; Credit scores as low as 620; Cashout Refinance up to 75% LTV; Debt Service Coverage Ratios as low as .75%; Interest-only loan option available; Suited for new and seasoned . For example, if you are reporting this cash income on your tax returns, that might be enough evidence for the lender. Highly professional service. I look forward to working with them again next year for my refinance. The first step is to provide your lender with copies of your records that indicate your income. Thank you for getting it done! Ive closed on several properties in the past and theyve exceded every other lender/broker Ive ever used before in all areas. He made what felt like the impossible, possible. Great Job thank you. My husband and I found our dream home so I started researching and looking for mortgage companies. Communicative, Professional, Friendly and most of all honest. I have refinanced 3 times over the last few years. This means that you must bring at least a 30% down payment to close the loan. These loans are often referred to as hard money loans, and are usually offered by companies or individuals that lend to real estate investors. Starr Mortgage has helped hundreds of borrowers in New York, New Jersey, and Florida with No Income Verification Loans and we understand the special attention that they require. If its a challenge to verify your income, then a no-income verification mortgage is an option worth pursuing. Certain state restrictions and requirements may apply. Not everyone will be approved nor can loans be guaranteed online. As low as 640 credit allowed, with 35% down payment and 24 months reserves. We wasted multiple months trying other mortgage companies. Took the time to explain everything. Always responded to any question or request immediately. We could never properly express our gratitude to MeMe or Roy! No-income verification mortgages dont require proof of income. These loans carry high interest and are offered to investors based upon the value of the property. QMs meet specific requirements, including evaluating debt-to-income and monthly income for a potential borrower. Special thanks to Lucrece Valentin and her team for their tireless commitment to providing a smooth seamless buying experience. We offer one of the industries lowest rates. Being self-employed made it difficult to get a mortgage but, with the bank statement mortgage the process was a lot easier. No-income verification loan rates vary based on the lender, loan amount, loan term, and your specific financial circumstances. Always available. No income verification loans on second mortgages are very . Important note On a cash out refinance, the cash out proceeds CAN be used to cover the reserve requirement. Do not waste your time with people who quote you loan terms without assessing your credit, and debt ratios. In this example, the real estate developer has more than six times the cash flow necessary to cover their debt obligations. Thank you so much Joelle for your service. Great working with Roy & Me'Me, they were very professional, and answered all my questions before, during, and even after hours. He is respectful and a complete gentleman. I found RK Mortgage on the internet, I did some research and gave them a call. What loan does not require proof of income? This can be beneficial for borrowers who are self-employed or who have other sources of income that are difficult to document. We love her! When doing a debt consolidation loan, and not receiving any cash out proceeds from the loan, it can be considered a rate and term refinance. Here are a few scenarios when this type of mortgage makes sense: If you want to pursue a no-income verification mortgage, here are the steps youll need to take: In general, its relatively challenging to qualify for a no-income verification mortgage. I called and spoke with Juan Carlos Rivera and gave him a brief run down on our info. We are a Top Leading Mortgage Broker that Specializes in No IncomeVerification Loans. They answered all my questions and concerns in a nick of time. The loan is approved based on credit and reserves. How can no income-verification mortgages help our borrowers? They truly were with me every step of the way in the process. I also had the pleasure to work with Me'Me who is fast acting and together they make an excellent team. These loans are credit score driven. A no-documentation home loan is a mortgage that doesn't require the borrower to provide standard income documentation. How can I buy a house without 2 years of income? Everyone we dealt with through her office was very professional and friendly, but we love Joelle, and after all the back and forth with her though out this process, consider her a friend! Many applicants are good and qualified borrowers that have difficulty documenting their income the way traditional lending underwriters require. Licensed in CA, I offer a wide variety of programs for both first time buyers and experienced investors/flippers. no doc mortgage, no doc home, with no income verification, mortgage with no income requirements, 100% no doc mortgage, no income verification refi, no documentation mortgage, no doc stated income Saatchi, Ogilvy amp Rosenthal today 39 fees once your school come together are entitled. Two thumbs up! Amazing helpful team! My husband and I have a very busy schedule at work but they were willing to stay after hours to help us. Excellent service, Roy kept me informed each step of the way. Constant and accurate information and updates. He was patient and complete in answering all my questions. I would recommend Joelle to any of my personal friends, family, and or colleagues!! Yes, its possible to get a mortgage without a verifiable income. He took numerous calls, emails and texts from me daily. No tax returns, no paystubs, no bank statements, no 4506 required. After that, your rate becomes variable. Mortgage rates and home loan programs are subject to change without notice. Specialties: NMLS #322945. Before signing up for a no-income verification mortgage, be sure to carefully read and understand your loan terms. If your looking for help feel free to contact us toll-free at 1-877-383-1577 or apply online today. This can be appealing for self-employed individuals or those who have fluctuating or hard-to-verify income. Very helpful and attentive throughout the whole process! Lucrece and her team were awesome! Our affiliated lenders will review the credentials of applicants with all types of credit on FHA, VA, Fannie Mae, Freddie Mac and jumbo products. Adam Lesner is a Mortgage Loan officer in Brighton, MI. At Mortgage Captain, we work with you to obtain a no income verification mortgages through our network of lenders in Ontario. I would definitely recommend this mortgage company. He also got me a great rate on my mortgage! . Highly recommend them! Me Me was tough with HOA. You don't need to show pay stubs. The lender allows you to use other items, such as bank statements, to show that you can repay a mortgage. I closed on my first home last week and not without the help of Stephanie Ventura and Me'Me Gray. As an insurance agent that works with many lending officers throughout the state, team Joelle Maximilien-Miller & MeMe Gray are by far the standard for professionalism and efficiency. Roman was always on hand to answer any questions we had. Lucrece and our loan processor MeMe worked extremely hard to get our deal done. $1,000,000 + $350,000 = $1,350,000 total assets. Gone are the days where anyone can qualify for a no credit check home loan, but we have seen several new programs featuring no income verified opportunities for qualified applicants. I highly recommend RK Mortgage Group and Andres. She walked through all the steps with me. Joelle was able to jump right in resolve the situation and help me close on my home. But these types of loans require proof of other assets. This is available on rate and term refinance as well as cash out refinance. My questions were answered quickly and professionally. We know the Jumbo Mortgage Business call us at (800) 986-4580. Here is what you can expect when buying a home with no income verification: At least 20% down, with 740+ credit and 12 months reserves. I would definitely do business with RK Mortgage again! They do have a little higher rates and fees and down payment requirements. I wish them lots of clients (not like me), luck and prosperity! Get Expert Advice from Brokers and Lenders that Specialize in Alternative Home Loans. If you need a mortgage I recommend you call RK Mortgage Group. No-income verification loan rates are substantially higher than currently available mortgage rates, as they pose more risk for lenders. In lieu of pay stubs, W-2 forms and tax returns, lenders may accept bank statements as proof of income. Be Prudent when Shopping Online for No Income Verification Loan Programs: If you are buying a house, you need to ask the lender what the minimum credit score is, what the minimum down-payment requirement is and whether you will need to supply statements for the lender to verify assets. By refinancing an existing loan, the total finance charges incurred may be higher over the life of the loan. 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Being self-employed made it difficult to get a mortgage through our network of lenders in.... Allows you to obtain a no doc or no-income verification mortgage, be sure to carefully read and understand loan. At work but they were willing to stay after hours to help us absolutely wonderful to work with Me'Me is... Joelle and Me'Me a lot easier i closed on several properties in the.! Texts from me daily, then there is nothing inherently unsafe about a no-income verification mortgage an... Made our dreams of owning a home, professional, Friendly and most of honest... Make sure that you qualify for your No-Doc loan or Alternative mortgage loan alternate income loan, Alternative.... Or assets then a no-income verification mortgage allows higher loan to value ratios run! The borrower to provide your lender with copies of your records that indicate income.
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