No Income Mortgage Refinance

Below are the highlights of this stated income program.

No income mortgage refinance. There are millions of americans who need a no income mortgage because of documentation obstacles that have prevented them from home buying or refinancing. We have the answer. Years ago stated income home loans were readily available for self employed and salaried employees. Most lenders across the continental united states require that borrowers provide income documentation to qualify for a mortgage loan and do not offer no income verification mortgages no matter what the transaction is whether it is a purchase or a refinance.

While most mortgage lenders ask for your tax returns no income verification mortgages instead consider other factors such as available assets home equity and overall cash flow. Lenders may just ask such persons to give details of their gross incomes for granting approvals. Obtaining mortgage with no proof of income could be ideal for self employed professionals who face difficulties in documenting their incomes. Check rates on our no income verification mortgage.

An asset based loan is one that uses assets as collateral instead of income. No income no asset loans. No income verification loans are available on sfr s multi family mixed use and commercial properties. Whether you are a retiree with a small fixed income a new business or an established company that needs to maintain a high cash flow the ease and benefits of asset based loans and mortgages have made them a popular solution for borrowers in recent years.

No income verification mortgages also called stated income mortgages allow applicants to qualify using non standard income documentation. Typically as long as the rent covers the new mortgage payment then no income or asset documentation is needed. Believe it or not no income verification loans still exist. Purchase and refinance loans up to 5 million available.

Excellent programs for investor s and self employed borrower s. Instead of proof of employment and salary this loan is based on credit history and assets because there is no standard formula for determining the optimum level of assets a borrower needs to qualify each lender must make an arbitrary decision as to what it would require. If you don t have w 2 income some banks will consider what is known as an asset based mortgage refinance. We are a top leading mortgage broker that specializes in no income verification loans.

No income verification mortgage refinance ideally suited for self employed. No tax return required. 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.