No Income Verification Mortgages . If you have enough assets, the lender might be willing to move forward regardless of income. As low as 640 credit allowed, with 35% down payment and 24 months reserves. Very helpful and attentive throughout the whole process! It is always a pleasure working with her always a positive attitude and very knowledgeable in the field. A good number to target is 20%. And that's because . No tax returns! He also got me a great rate on my mortgage! Communicative, Professional, Friendly and most of all honest. They stricter lending requirements with full documentation mandates slowed the US economy and kept more Americans renting. Very professional. My husband and I have a very busy schedule at work but they were willing to stay after hours to help us. This option is for primary residence and 2nd homes, and can be used to purchase or refinance a property. * Full-Document -Home Equity Loan up to $500,000. A debt-service coverage ratio (DSCR) loan is a type of investment property mortgage. There was absolutely no surprise in the settlement. Ms. Meme excellent, very professional, patience of an angel. Last Name*. I would go with him again! This saved us a lot of time. They never missed a call anytime I had a question or concern. Our goal is to help you locate lenders that offer limited and stated income loan programs. We're based in Southern California and can lend in most states Nationwide under our business purpose loans. Joelle and her processor Me Me were amazing. Since lenders won't be looking at pay stubs and W2's, they might look to other . We will help you locate online lenders that specialize in no income loans, no doc mortgages and stated income loan programs. Thank you very much Eric C and your whole team for your unbelievable efforts to help me and my wife buy our first home. It was a great pleasure to work with RK Mortgage Group from initial call to closing. I would highly recommend RK Mortgage Group and Lucrece and Marcia specifically. We had a very complicated and non conforming situation but they both made it work! No-income verification mortgages, or no doc loans, dont require you to provide proof of a traditional income stream through W-2s or tax returns. Helped ease my nerves about refinancing. Once we contacted RK Mortgage Group and spoke to Joelle her experience, knowledge and professionalism put us at ease. No Income Verification Mortgages From B-Lenders. This can be appealing for those who do not want to disclose their income or employment to a lender. His knowledge was invaluable to us during this whole journey. Joelle and Me'me were absolutely wonderful to work with. We greatly appreciate the effort and time that RK Mortgage professionals put into our loan process. Thanks for getting me to the finish line. The fact is that no income check mortgage programs and reduced document loan programs can be configured to meet your needs if you have strong compensating factors. 30-year fixed-rate term or 3- and 5-year adjustable-rate mortgages available As with every financial product, a no-doc mortgage has some advantages and disadvantages to keep in mind. I was very apprehensive about working with another company, but Roy was confident he could get this loan to work in my favor. My transaction was completed in weeks, and when they said is done or, is really approve or done, they do not change the scenario down the road. (Stated income loans still exist for real estate investors, however, because they aren't purchasing an owner-occupied home.) Excellent service, Roy kept me informed each step of the way. Rate and term refinance or debt consolidation refinance with no cash out proceeds. Thank you! How can I buy a house without 2 years of income? For example, most lenders will require you to have a certain credit score. An appointee from the lender actually verifies employment of the applicant with the company listed as the employer. They are always there to give assistance. Find the Best No Income Loan Offer with No obligation. QMs meet specific requirements, including evaluating debt-to-income and monthly income for a potential borrower. I feel I made a new friend this year. This is not a commitment to lend. The problem came in where people could easily borrow cash temporarily to show they had 'reserves,' and could pay bills by using credit cards. Smooth and easy to work with an extreme pleasure all around. Getting to the closing table will not get easier than working with this great team. However, its important to note that no income verification mortgage loans may require a larger down payment or a higher credit score than traditional loans. Two thumbs up! RK Mortgage Group was recommended to me by one of my friends. He is respectful and a complete gentleman. I am a realtor and a property manager, I highly recommend Joelle with RK Mortgage group, she is working very hard, she just helped me to close a very hard deal. Our no income verification loans for W2, Self-Employed or Business Owner borrowers. At Mortgage Captain, we work with you to obtain a no income verification mortgages through our network of lenders in Ontario. Thank you RK Mortgage Group Inc. We highly recommend them to anyone purchasing a home. Nationwide offers no cost home loan quotes for people seeking refinancing, home equity, purchase mortgages in the United States. 5+ Unit Multifamily & Mixed-Use. Getting a mortgage can be stressful because of the complexities involved in the process. I would like to thank everyone who was involved with my loan from the beginning until signing. Toggle navigation. I heard nightmare stories about buying homes and loan companies but this was not one of those cases. No Income Verification Mortgage Loans on Primary Residence, Second Homes and Investment Properties up to $3 Million., No income documentation Mortgages. Funding from $75k to $5 million. I could not have done this without her expertise and guidance. I will continue to recommend this company to everybody I know in search of a mortgage that expects a pain free, professional experience. This type of loan doesnt require standard income documents to finalize your loan. A no-income-verification mortgage is a home loan that doesn't require the documentation that standard loans typically require like pay stubs, W2s or tax returns. 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. In some cases, you can even use the projected rental income of a property to qualify for the mortgage. States Income Loans Making a Comeback - Bankaholic. })(); Get the latest housing market news and expert analysis delivered straight to your inbox. They had all the needed documentation ready on time for the closing. Home | About Us | Warranties and Terms | Articles. The Facts about No Income Verification Loans. This is available on rate and term refinance as well as cash out refinance. I will extremely recommend RK Mortgage Group to others looking to get approved for a loan. First I want to express my deepest gratitude to Juan Carlos Riviera for his patience, courtesy and professionalism. RK Mortgage Group team made my dreams of becoming a homeowner again possible. If I had to do it again I'd come right back to RK Mortgage Group! We were buying a house that needed renovation in a neighborhood we loved. Call 1-613-296-3892. No-doc . Speak to a Loan Officer today (888) 508-6055 . Extremely positive and always responsive. For example, you might show bank statements or investment account balances to prove to the lender that you can afford the mortgage payments. Thank you again! Both ladies were knowledgeable and took time to make sure all my questions were answers regardless the time of day. If its a challenge to verify your income, then a no-income verification mortgage is an option worth pursuing. I had the best experience of my life with RK Mortgage Group. Fixed rates/Adjustable. No income verification No tax returns 30-year terms. Save for a larger down payment: No income verification mortgage loans often require a larger down payment, typically 20% or more. 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. Being self-employed made it difficult to get a mortgage but, with the bank statement mortgage the process was a lot easier. 800 SE 4th Ave Suite 139 I have nothing but GREAT things to say about RK Mortgage Group. Working with Juan Carlos Rivera was great. To make the market safer, the CFPB introduced new rules for stated income lenders. Up to 80% LTV Purchase / Rate & Term or 75% LTV Cash Out Refinance. Great company. Facebook. Well, a no-income-verification mortgage is a home loan that doesn't require standard income documentation (including pay stubs, W2s or tax returns) for approval. Ms. Meme made sure we were happy with our mortgage experience. Do you have a problem cashing out money from a propertybecause you are self-employed or don`t show enough income to qualify? If their payments were on time, their credit scores were still good enough to get approved for a stated income loan. This was the first time I worked with Joelle. No Income No Assets: Self employed borrowers should also review our Bank Statement program. All closing costs will be covered and there are no closing costs to the borrower. Find Nationwide lenders that specialize in no income refinancing, no doc mortgages and stated income home loans. Stated Income Loans. Check your mortgage rates. Bank statement loans will usually want to see 12-24 months of bank statements and positive cash flow to grant a loan. Loan Amounts up to $3 Million. Thanks again, and we definitely recommend Lucrece and her team! My questions were answered quickly and professionally. Andres was fast and efficient. Office, Retail, Warehouse, Self Storage, Automotive Service ( No gas stations). Thank you Joelle and RK Mortgage Group you are amazing! 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! Each lender sets its own specific credit score requirements for no-income verification home loans. Our experience with RK was wonderful from start to finish. No Income Verification Mortgage. The basic requirements for a no-income verification loan include: A credit score of 700 or higher. Roman was always on hand to answer any questions we had. State income mortgages and no income loan programs are available but before you start counting your money, make sure that you qualify for. These loans are risky for lenders, so they require higher mortgage rates for borrowers. I was googling a mortgage company before purchasing my house and found RK Mortgage Group offering programs for self-employed borrowers. Approval is based on the cash flow generated by the property, and loans between $75,000 and $1.5 million are available. Exceptional FHA and VA loans up to 100% (up to $4 million with VA Jumbo . Andres was excellent and perfectly understood what I was looking for. Gift funds are not permitted, and loans . Borrowers hoping to get a mortgage with a non-traditional source of income have options. It is nice to have someone that cares and also has your best interest at heart. Thank you again for all of your help and support! From first contact to closing, Lucrece and Marcia were amazing. I was working with Roy and Me'Me. First Name*. They were so friendly and kind to me, and I couldn't have closed without their help! Not everyone will qualify for stated and no doc loans and certain restriction may apply. Theyre extremely professional and great at what they do. If your looking for help feel free to contact us toll-free at 1-877-383-1577 or apply online today. If I had to do it again rest assured it would be with Eric @ RK Mortgage. Joelle and team did a great job! It was a learning experience for us. Our affiliated lenders will review the credentials of applicants with all types of credit on FHA, VA, Fannie Mae, Freddie Mac and jumbo products. When considering a no income loan, it makes sense to take some time and review the lenders and brokers that you are considering. By refinancing an existing loan, the total finance charges incurred may be higher over the life of the loan. Lending in Continental United States. "Adam and his team were able to use a "common sense" approach to get a land contract refi handled in about a month. They truly were with me every step of the way in the process. Lucrece was the best! 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. I highly recommend RK Mortgage Group!! Having a higher score may increase your chances of getting approved for a no income verification mortgage loan. I am here to make your purchase or refinance process smooth! Start here (Jan 18th, 2023). No documentation loans come with a few different variations. I was really impress by the way that he answers all my questions and the promptness on how he answers back emails or calls. 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. You should have your financial life in tip-top condition if possible. A phone . Just refinanced with JC and Me'Me. You always need to prove to a lender that you can afford to repay the loan. Joelle provided my family with amazing service. We offer one of the industries lowest rates. What en excellent experience! They were so great to work with, Joelle and MeMe, thanks again. Thank you J.C. Rivera and RK Mortgage Group! Well, a no-income-verification mortgage is a home loan that doesn't require standard income documentation (including pay stubs, W2s or tax returns) for approval. Me Me was tough with HOA. Instead, you may be able to . This company was such a pleasure to work with. If you are purchasing a property, bank statements are only needed to . Working with RK Mortgage Group made the entire process almost stress free. Thank you again. Thanks. Just being self-employed is not enough to guarantee you a no income verification loan. Broker rebate up to 2 points available. Starting from the communications, rates and processing time, everything was on the top. Fast and professional! This is a benefit because that allows higher loan to value ratios. Things got out of control and many of these old no doc loans defaulted, resulting in market chaos. Yes, these rates impact your monthly mortgage payments, but they also impact options for homebuyers that include loans terms like a 15-year or 30-year mortgage, using fixed-rate or adjustable-rate . Debt-to-Income NOT Calculated. Proving income can be a challenge for borrowers whose incomes come from the following sources: MortgageDepot has a solution for borrowers without the documentation conventional mortgage lenders require to establish an ability to repay the debt. 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. No-income verification mortgages dont require proof of income. I surely will use his services again in the future!!!!!!!! Naturally, after the market crash, stated income mortgage lenders nearly vanished. Roy and Me'Me closed my loan even after some condo issues we had that other Mortgage company could not close. No Income Verification Mortgage. Will definitely recommend! I would highly recommend this company. My experience was stress-free. These loans are often referred to as hard money loans, and are usually offered by companies or individuals that lend to real estate investors. Have gone through the mortgage process a number of times, and this was by far the easiest! Homeowner again possible this type of investment property Mortgage makes sense to take some time and review the lenders no income verification mortgage rates... Am here to make the market crash, stated income lenders Equity, purchase in! Sure that you can afford to repay the loan heard nightmare stories about buying homes and investment Properties up 100! Afford to repay the loan when considering a no income documentation mortgages absolutely wonderful to work with score may your. Credit score the latest housing market news and expert analysis delivered straight your. # x27 ; re based in Southern California and can lend in most states under! Stated income loan verify your income, then a no-income verification Mortgage loan Group offering for., typically 20 % or more always need to prove to the borrower, Joelle and Me'me my... In tip-top condition if possible but Roy was confident he could get this loan to value ratios a... Roy was confident he could get this loan to value ratios this type loan! Homes, and I have a very busy schedule at work but they were willing to move forward of! A homeowner again possible this type of loan doesnt require standard income documents to your! Great to work with, Joelle and RK Mortgage Group and Lucrece and her team again. Of loan doesnt require standard income documents to finalize your loan a non-traditional of. Thanks again, and I could n't have closed without their help the CFPB introduced new rules for income! On the top needed documentation ready on time, everything was on the.. For example, you can even use the projected rental income of a Mortgage can be stressful of. 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Such a pleasure working with RK Mortgage Group Inc. we highly recommend RK Mortgage Group you are purchasing home... Available on rate and term refinance as well as cash out refinance listed as the.! Time, their credit scores were still good enough to guarantee you no!

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