As first time byer I had million questions. . Your dedicated Loan Specialist will work alongside your title company and stay involved from first call toclosing. For example, you might show bank statements or investment account balances to prove to the lender that you can afford the mortgage payments. They have fixed arms options like 5/1, 7/ . These loans are credit score driven. Thanks. The ability to make a large down payment, often 20-30% or more. Rates starting at 6.25%. Or email us at gcho@gustancho.com. This means your two most recent pay stubs, your most recent checking account statement, your current savings account statement, and your federal income tax returns from the previous two years. No Income Verified Assets: I was applying for mortgages for my dream home in Florida. Without her assistance and hard work none of this would have happened. I am here to make your purchase or refinance process smooth! At Mortgage Captain, we work with you to obtain a no income verification mortgages through our network of lenders in Ontario. Borrowers could get stated-income stated asset loans (SISA), also referred to as no income-no asset loans (NINA) and other no-doc mortgages. Truly a seamless transaction. Just being self-employed is not enough to guarantee you a no income verification loan. I am glad we have chosen RK Mortgage Group. They were so great to work with, Joelle and MeMe, thanks again. A bank statement loan program is designed for the person or business whose tax returns or history of employment may not demonstrate their full income. This was the smoothest mortgage transaction we have ever had. Fast, efficient process with minimum efforts. A no-income mortgage, sometimes referred to as a no-doc mortgage, is an option for borrowers with a non-traditional income stream or another source of assets. If any one wants to do business with professionalism and respect, I recommend Andres and his team. Quick, Professional, and Personable. We had issues with IRS, permits for the insurance, employment gaps - you name it; however, her team managed to work things out and we closed according to the plan. Click to share on Facebook (Opens in new window), Click to share on LinkedIn (Opens in new window), Click to share on Pinterest (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on Reddit (Opens in new window), Click to share on Tumblr (Opens in new window), Click to share on Pocket (Opens in new window), Click to email a link to a friend (Opens in new window). I'm writing this review in my new house and Im thankful to RK Mortgage Group for this. In this case, the lender did not verify any of the income. When you apply for a mortgage, the lender wants to ensure that you have the financial resources to repay the loan. These loans carry high interest and are offered to investors based upon the value of the property. We're based in Southern California and can lend in most states Nationwide under our business purpose loans. Toggle navigation. We can help you find stated income mortgage lenders that finance loan programs that do not require any income verification for good people who do not want to document their employment, assets or taxable income. If their payments were on time, their credit scores were still good enough to get approved for a stated income loan. Lucrece was there for me every step of the way and even held my hand during several meltdowns. Specialties include: Portfolio lending, Investment property loans, mortgage for self-employed, Non-Conforming mortgage lending, and non-warrantable condos. Privacy: No income verification mortgage loans allow borrowers to keep their financial information private. *This product is not regulated by the New York State Department of Financial Services. "Adam and his team were able to use a "common sense" approach to get a land contract refi handled in about a month. 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 also had the pleasure to work with Me'Me who is fast acting and together they make an excellent team. The lender allows you to use other items, such as bank statements, to show that you can repay a mortgage. Get Quotes and Disclosures in Writing: Make sure you get all offers in writing that include the uniform residential mortgage disclosures such as the "Good Faith Estimate" and "Federal Truth in Lending" statements. 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. Being self-employed made it difficult to get a mortgage but, with the bank statement mortgage the process was a lot easier. Home Buyer; Refinance; Loan Options; About; Resources; Low Credit Refinance; 314-781-9700. . Your dedicated Loan Specialist will be your guide from application to closing. While true no income verification mortgages no longer exist, lenders can qualify you based on almost any kind of cash flow. Thank you all for your time and excellent customer service! I never expected such a good rate given my self-employed situation. You do not provide any pay stubs, W-2s, or tax returns. These loans will have similar mortgage rates . It was nothing about trying to get money but just helping a family in needs of a place to call home. Last Name*. Every time I was confused, she was always there to help. Please inquire with lender for updated program qualifications that pertain to your state and your credentials. Thank you very much Eric C and your whole team for your unbelievable efforts to help me and my wife buy our first home. to your inbox. I will continue to recommend this company to everybody I know in search of a mortgage that expects a pain free, professional experience. no doc home, 100% no doc mortgage, no doc mortgage, with no income verification, no income verification refi, no doc stated income, mortgage with no income requirements, no documentation mortgage Moolah is readily available now understand a slight scratched scissors. Start afree quote toget aninterest rate and payment estimate. Interest rates continue to hover near record lows, but the availability for alternative financing, such as stated income mortgages is not always available, so don't miss out on these opportunities. We have purchased our forever home in lovely Key West Florida! At Nationwide, you will be able to shop rates on no income and stated income loans and refinance mortgages with a goal of securing some of the lowest rates and most aggressive loan programs in the Western Hemisphere. 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. So easy and straight forward to work with and was truly the simplest mortgage we have ever had! Types of No Income Mortgages. I could not have done this without her expertise and guidance. Special thanks to Lucrece Valentin and her team for their tireless commitment to providing a smooth seamless buying experience. 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!! There are several variables related to rates, terms, and payments that need to be evaluated for any mortgage loan, and you want to get the best advice possible. Can I get a mortgage if I get paid in cash? I had an issue with my other mortgage company that I had been working with and upon contacting RK Mortgage. This saved us a lot of time. But instead of looking at your W-2s, pay stubs, or tax returns, the lender lets you provide proof of your financial stability in other ways. Always fast to respond to phone calls and any concerns, great with answering unlimited questions of first time homebuyers, explaining every step of the way, and simply getting things done. In most cases the borrower is using savings in a bank in lieu of monthly income documentation. We live in a world driven by legality so it makes sense to only take quotes seriously that you have in writing from a credible finance company. I have nothing but GREAT things to say about RK Mortgage Group. Below, well take a closer look at this option. Generally, the lenders expect a credit score of 620 or higher for better mortgage rates. Thank you Joelle and RK Mortgage Group you are amazing! Of course, having a good idea what the value of your house is very important for getting a genuine quote. Funding from $75k to $5 million. Willing to pay substantially higher interest rates for the life of the mortgage loan. No-income verification loan rates vary based on the lender, loan amount, loan term, and your specific financial circumstances. Loan was closed on time. A good number to target is 20%. Typically, these loans charge higher interest rates than qualifying loans, but can be easier to get approved if you're self- or seasonally employed. No Income Verification Mortgage. He was very professional and courteous. Yes, it is possible to get a second mortgage without documenting your income. I'm self employed and they made the process super easy. I called Joelle in a panic, and she got me approved and saved my contract. We had a very complicated and non conforming situation but they both made it work! I actually closed before the date promised. A DSCR loan allows you to qualify a mortgage using future rental property income. Very stress free and would recommend him and RK Mortgage Group to anyone! They answered all my questions and concerns in a nick of time. The loan is qualified based on a value of the property and/or anticipated incomethe property will generate. After that, your rate becomes variable. 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. To contact us by phone please call (800) 805-6945 or email us by clicking here. Although you cant get approved for a traditional mortgage without proof of income, there are other loan options when trying to obtain a primary residence. I never felt left out throughout the process until closing. I highly recommend RK Mortgage Group!! No Income Verification Mortgage. I should say, my credit is perfect, my finances were great, and my income is solid. . We shopped around with confidence and when we were ready, our team at RK made our dreams come true! Thank you for your help to buy our new home! 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. Many applicants are good and qualified borrowers that have difficulty documenting their income the way traditional lending underwriters require. No income verification No tax returns 30-year terms. Thank you again for all of your help and support! The lender allows you to use other items, such as bank statements, to show that you can repay a mortgage. window.ClickTable.mount(options); There was absolutely no surprise in the settlement. He is a well disciplined and well-mannered and is the best representation for any mortgage company. . Thanks! Constant and accurate information and updates. Our loan officers work with lenders that specialize in no income-verification loans with the type of flexible underwriting policies to overcome financing challenges. Words cannot expressed how happy I am with this group. The net operating income for the developer is projected to be $2,150,000 a year. No Tax Returns / No W2 . They found the right program that fit my needs. Are you getting declined from your current lender because you don`t qualify for a Mortgage? Less Paperwork is paves the road for a smooth loan process. I would like to thank everyone who was involved with my loan from the beginning until signing. The developer is projected to be $ 2,150,000 a year i will to... Verification loan will still have more stringent lending requirements than in the settlement team for their tireless commitment providing! A bank in lieu of monthly income documentation best representation for any mortgage company that i had been working and! 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