Naturally, after the market crash, stated income mortgage lenders nearly vanished. Will definitely Recommend. They went above and beyond to help us out with the purchase of our first home. Thank you for getting it done! It was quite an experience with mixed feelings. Specialties include: Portfolio lending, Investment property loans, mortgage for self-employed, Non-Conforming mortgage lending, and non-warrantable condos. . I worked with Lucrece and she was excellent. Adam Lesner NMLS 198818 is a licensed mortgage Loan Officer in Hartland, Michigan. For example, you might show bank statements or investment account balances to prove to the lender that you can afford the mortgage payments. We work with lenders offering no income-verification mortgages to provide a viable option for our borrowers who do not have paystubs or whose income fluctuates during the year. Finding a company that offers a stated income mortgage refinance, or no income equity loan is not as easy as it was a decade ago. I was impressed with the process. Some organizations, like Mortgage Depot, offer a no income check program. 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. Our Loan Consultants are ready to answer your questions about this No Income Verification Program. This option is for primary residence and 2nd homes, and can be used to purchase or refinance a property. I highly recommend working with this team to get the best rate and outstanding service! * Convert your adjustable rates to a Fixed Rate Loan. Ms. Meme made sure we were happy with our mortgage experience. 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. On paper, this type of applicant may appear to be a higher risk because they do not meet qualified mortgage standards. Our loan officers work with lenders that specialize in no income-verification loans with the type of flexible underwriting policies to overcome financing challenges. Joelle and her processor Me Me were amazing. The lender accepts other items, such as bank statements, as proof you can repay the mortgage. Would highly recommend RK Mortgage, they will be with you the whole loan process, difficult or easy loan. Her professionalism was like no other. State income mortgages and no income loan programs are available but before you start counting your money, make sure that you qualify for. Or email us at gcho@gustancho.com. Lucrece was the best! Thanx for having Ms. Meme on board. No Income Verification Mortgage. This can be appealing for self-employed individuals or those who have fluctuating or hard-to-verify income. Lorie C, Fort Myers, Florida I had a very short time frame to close and they managed to get everything moving, especially in COVID! 1-4 Families + Condos. The lender allows you to use other items, such as bank statements, to show that you can repay a mortgage. No-income verification mortgages dont require proof of income. 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. This is our 2nd time working with them and each time they provided exceptional service. We offer one of the industries lowest rates. Save for a larger down payment: No income verification mortgage loans often require a larger down payment, typically 20% or more. I called Joelle in a panic, and she got me approved and saved my contract. On May 19, 2022, the average 30-year fixed rate was 5.25% according to Freddie Mac. I'm happy. Tips for Making the Best Garden Improvements for Your Home's Values. to your inbox. This was the smoothest mortgage transaction we have ever had. In short, there is no income verification, no income documentation, no tax returns, and on certain refinance transactions you will not have to provide any bank statements. A breakthrough in borrower qualification. We were able to apply, submit all our required docs and close in less than six weeks. They answered all my questions and concerns in a nick of time. Call 1-613-296-3892. Overall, getting a no income verification mortgage loan can be a great solution to accomplish your home ownership goals if you have been told you dont qualify due to your income or employment history. Through complications on the closing of my previous home and new turns and twists in the purchase of our new home, Joelle and Me'Me were there through it all to make sure things closed. Rates as low as 7%. Just refinanced with JC and Me'Me. I just closed on my first home and the process could not have been any smoother. Joelle and Me'me were absolutely wonderful to work with. Smooth and easy to work with an extreme pleasure all around. Andres was excellent and perfectly understood what I was looking for. So appreciate all their dedication and hard work. These loans will have similar mortgage rates . Meeting the strict underwriting requirements of most lenders can be daunting, but we have at MortgageDepot. My experience went beyond than what we expected. If your looking for help feel free to contact us toll-free at 1-877-383-1577 or apply online today. When they say they work fast, they mean it. Strongly recommend to call RK Mortgage for all your mortgage needs. $100K - $5M. We really didn't think we would be able to refinance but these guys were able to make it happen. They really work with you to get the best rates and to help you get into your own home. Option for No Income Verification. We highly recommend RK Mortgage Group. Borrowers could get stated-income stated asset loans (SISA), also referred to as no income-no asset loans (NINA) and other no-doc mortgages. window.ClickTable.mount(options); Highly professional service. 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. We're based in Southern California and can lend in most states Nationwide under our business purpose loans. . When considering a no income loan, it makes sense to take some time and review the lenders and brokers that you are considering. Some borrowers would rather not disclose their bank-statements, pay-stubs and tax returns. However, you should expect the lender to require a relatively high credit score. Its not impossible to qualify for a no-income verification mortgage. But being self- employed doe have its setbacks, and for me this was one of them. You should have your financial life in tip-top condition if possible. Loan was closed on time. First I want to express my deepest gratitude to Juan Carlos Riviera for his patience, courtesy and professionalism. Thank you guys for everything. The interest rate is typically 3% to 5% higher than conventional loans. I heard nightmare stories about buying homes and loan companies but this was not one of those cases. Broker rebate up to 2 points available. The first step is to provide your lender with copies of your records that indicate your income. It was a great pleasure to work with RK Mortgage Group from initial call to closing. . No-income verification loan rates vary based on the lender, loan amount, loan term, and your specific financial circumstances. They are now required to make a good faith effort to determine if the borrower can repay the loan. Exceptional FHA and VA loans up to 100% (up to $4 million with VA Jumbo . By clicking "Complete My Request" I am consenting to have my info shared with up to four lenders, brokers, CreditOptions, New American Funding, Global Equity Finance, Loan Depot and other business affiliates and for them to contact you (including through automated means; e.g. Yes there are several great options on these NonQM (as they are called) loans today. From start to finish she stood by my side and guided me thru every process that it took to get me into my dream home. . Typically, applying for a mortgage requires you to share pay stubs or tax documents so the lender can verify your income and see that you earn enough to make your monthly mortgage payments. From first contact to closing, Lucrece and Marcia were amazing. If you have been told you do not qualify for a mortgage due to your income or employment history, this will be the be the option to consider. Improve your credit score: A higher credit score can make you a more attractive borrower to lenders. I can't thank him enough for everything he did. 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. Thank you again. Its always a good idea to consult with a mortgage broker to determine the best option for your financial situation. But these types of loans require proof of other assets. There is no application fee from participating lenders or banks. No Income or Asset Verification Cash-Out Loans as a 1st or 2nd Mortgage or as a full doc HELOC (Home Equity Line of Credit). She was instrumental in making our dream come true and I cannot begin to tell you how appreciative we are. She was always available either immediately or usually returned calls within an hour. What credit score is needed for a no-income verification mortgage? As self-employed and without income verification there were not to many chances for us to be approved for a mortgage. Many people who own their own small business do not receive W-2s and pay stubs, so it became hard for them to qualify for a loan. $100k - $5M, close in 2-4 weeks! Instead, you can qualify for the loan based on your assets. Home Purchase | No Income Verification Loan. Fast, efficient process with minimum efforts. For example, if you are reporting this cash income on your tax returns, that might be enough evidence for the lender. My situation was unique and they helped me navigate through the steps all the way to the closing table. And it was the best experience by far! Yes, it is possible to get a second mortgage without documenting your income. No Documentation Mortgage - No Doc: A type of reduced-documentation-required mortgage program in which income and assets aren't disclosed on the loan application and employment isn't verified . Me'me was my loan processor and was great also. They work well after hours to help get the paperwork done! Most people in the industry considers this product the "True No Doc Mortgage Florida Loan", since you can leave the employment and income section blank. Originally, the idea behind a no doc loan was to make buying a home easier for the self-employed, small business owner. I usually don't write reviews, but I had to write something about my experience with RK Mortgage Group. A no income verification home loan is a type of nonqualifying mortgage. They stricter lending requirements with full documentation mandates slowed the US economy and kept more Americans renting. Theyre extremely professional and great at what they do. From start to finish, RK's team was dedicated to taking care of our family and our home buying experience. Very professional. Up to 80% LTV Purchase / Rate & Term or 75% LTV Cash Out Refinance. Highly recommend! I would definitely do business with RK Mortgage again! Thank you JC and MeMe, you both have been amazing throughout this entire process and we truly appreciate the amazing service, support and follow up!! And when you compare a 6% no doc mortgage interest rate with rates from decades ago, you still are doing pretty well financially. As a realtor, I have had excellent results recommending her my customers. Without her assistance and hard work none of this would have happened. Andres was fast and efficient. People are raving about home equity loans with no documentation required. A: Yes, there are mortgages available with no tax returns required but they are only offered by certain lenders. You always need to prove to a lender that you can afford to repay the loan.