In this case, you could be a candidate for a no doc or no-income verification mortgage. The whole package from start to finish was straight forward and very quick to close . So easy and straight forward to work with and was truly the simplest mortgage we have ever had! Problems with no doc loans in the early 2000's nearly tanked the US economy. Special thanks to Lucrece Valentin and her team for their tireless commitment to providing a smooth seamless buying experience. Most lenders will require that you have approximately 20% equity in your property (after closing on the second mortgage) and the rate typically will not be as favorable as when income documentation is provided. Rates starting at 6.25%. I would like to thank everyone who was involved with my loan from the beginning until signing. Andres was excellent and perfectly understood what I was looking for. As a realtor, I have had excellent results recommending her my customers. I am now a homeowner. Fortunately, we were able to find RK Mortgage Group which first gave us a hope and then delivered as promised. 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 . I traveled for business and my wife stayed home. I'm happy. Not everyone will be approved nor can loans be guaranteed online. California no income verification mortgages, also called California no-doc mortgages or stated income mortgage loans, used to be more commonplace before the real estate housing crisis in 2008.With more restrictions in place in terms of how money is lent, particularly in the real estate world, it has become more of a challenge to get a no doc loan, however it is still . Need a Stated Income Mortgage or No Doc Loan? Are you getting declined from your current lender because you don`t qualify for a Mortgage? Without her assistance and hard work none of this would have happened. My husband and I found our dream home so I started researching and looking for mortgage companies. No-income verification loan rates vary based on the lender, loan amount, loan term, and your specific financial circumstances. If you have enough assets, the lender might be willing to move forward regardless of income. First and foremost, I would like to express how grateful I am to have had Juan Carlos Rivera as my mortgage broker. She worked hard to make sure I received the lowest rate and the best deal. No-income verification loan rates vary based on the lender, loan amount, loan term, and your specific financial circumstances. State income mortgages and no income loan programs are available but before you start counting your money, make sure that you qualify for. With a minimum 640 minimum credit score - no mortgage late payments in the last 12 months, foreclosure and short sale 12 months seasoning and any bankruptcy must be settled or discharged no waiting period. 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. The speed at which my communications were received and answered was outstanding. Helped ease my nerves about refinancing. If I had to do it again rest assured it would be with Eric @ RK Mortgage. 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. I highly recommend RK Mortgage Group for refinancing issues. Types of No Income Mortgages. Thanks again for a great service. I really appreciate everything RK team did for me to finance my mortgage. By improving your credit score and having the ability to document strong assets, you can increase your chances of getting approved for a no income verification mortgage loan. Thanx for having Ms. Meme on board. RK Mortgage group you are the best! 650 mid FICO to qualify. Will recommend to anyone needing a mortgage. It will use these factors to decide if you should get the loan. Check your home buying eligibility. As a foreigner, it was not easy at all to get a refinance with reasonable interest rates After getting tired of either being rejected by well-known lenders or getting quoted with outrageously unaffordable interest rates, we were about to give up our renovation plan to upgrade our new house. 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. My husband and I were so excited when we were pre-approved. Until she was given the required documentation to help close the loan. They worked diligently to ensure the process was efficient and stayed in touch each step of the way. Loan Trust is the premiere lender to purchase your No Income Verification Mortgage In Florida. Rocket Mortgage does not offer this type of mortgage. 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. 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. qualified applicants borrowing against their primary residence. If you dont have a verifiable income stream, then youll need enough assets to support the mortgage payments. Helped us secure a mortgage very fast and she was available anytime we needed her. They went above and beyond to help us out with the purchase of our first home. The whole team was very attentive and trustworthy, they guided us through the process. Thank you! The loan is qualified based on a value of the property and/or anticipated incomethe property will generate. options.element = document.getElementById('click_table_63c85089d9189'); Blanket Loan Options Available. . He was very prompt on getting back to you and making what can be a stressful process very easy. Within minutes after filling the application, I received a call from Andres. They really work with you to get the best rates and to help you get into your own home. Truly a seamless transaction. Great team to work with. Call 1-613-296-3892. Thank you RK Mortgage Group and Thank you Joelle! You no longer have to let your job history or income documentation prevent you from getting locked into a record low interest mortgage. Thank you guys! 1-4 Families + Condos. 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. He always kept the fire going and the process was completed before the promised deadline. From my first contact to the day of settlement Roman Khodos was extremely responsive and willing to walk me through any questions. RK Mortgage and the staff were very supportive of our journey. Always available. Many self-employed clients choose the no income loan options for home refinancing and house flipping loans. She kept me informed and closed on time. Thank you RK Mortgage and Joelle. No W2s, paystubs or Taxes needed! While common before the 2008 financial crisis, no-income verification loans also sometimes called non-QM loans are no longer widely available to homebuyers. I can tell you that she really did a great job during the entire process. Low Credit Score FHA Home Buyers Might Qualify in 2023, 100% Financing Home Loans 2023 (USDA, VA, FHA), Current Mortgage Interest Rates | January 2023, Mortgage Relief | Mortgage Stimulus Program 2023. }) This type of loan doesnt require standard income documents to finalize your loan. Thank you Joelle and RK Mortgage Group you are amazing! We love her! Interest Only Option Available. 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. Joelle and her processor Me Me were amazing. We actually closed in 26 days. RK Mortgage Group was recommended to me by one of my friends. It was a great process. Its not impossible to qualify for a no-income verification mortgage. He was always accessible and always willing to answer my endless questions. No income verification No tax returns 30-year terms. Our experience with RK was wonderful from start to finish. Start Online. Thank you for all your hard work and dedication! Our affiliated lenders will review the credentials of applicants with all types of credit on FHA, VA, Fannie Mae, Freddie Mac and jumbo products. Thank you again! They are both knowledgeable, kind, thorough, prompt, responsive, and professional. At Mortgage Captain, we work with you to obtain a no income verification mortgages through our network of lenders in Ontario. Totally recommend her to everyone we know! I worked with Andres at RK Mortgage. Great group to work with, they helped us acquire our dream home for our family. Tips for Making the Best Garden Improvements for Your Home's Values. Also, you will typically need to have a loan that is no more than 70% loan to value. This can be beneficial for borrowers who are self-employed or who have other sources of income that are difficult to document. I worked with Lucrece and she was excellent. Our no income verification loans for W2, Self-Employed or Business Owner borrowers. We were able to complete a mortgage application online and electronically sign all the documents the next morning. Adam responded to emails "We can't say enough good things about Adam. You won't be asked to submit documents and forms you don't have. I also had the pleasure to work with Me'Me who is fast acting and together they make an excellent team. RK Mortgage Group went above and beyond my expectations! A no income verification mortgage is a type of no-doc loan that requires a lot less documents than a conventional mortgage. Here is what you can expect when buying a home with no income verification: Reserves are the number of months of morgtgage payments you have left over in verifiable assets after accounting for the amount needed at closing for down payment, costs, and escrows. Category: No doc loans, short for no documentation loans, are mortgages that require little to no paperwork to qualify. You, guys, did a great job! Stephanie and Me'Me were the best, everything was fast, smooth and easy. In addition, all assets counted . No Income Verification Mortgage. Words cannot express the professionalism and care her team exhibited through the entire process. Very helpful and attentive throughout the whole process! You don't need to show pay stubs. } My situation was unique and they helped me navigate through the steps all the way to the closing table. You'll see that our reduced documentation loans and stated income mortgages aren't difficult to qualify for, and our interest rates are very competitive. 680 minimum credit score Keep in mind that these types of no doc or limited doc loans will still have more stringent lending requirements than in the past. For investment properties, please review our No Income Verification program. A no income verification mortgage loan is a type of mortgage that does not require borrowers to provide documentation of their income. 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