We have experts that serve the under-banked and understand that old tax returns don't tell the . Need a Stated Income Mortgage or No Doc Loan? Great job RK team! Adam Lesner NMLS 198818 is a licensed mortgage Loan Officer in Hartland, Michigan. I actually closed before the date promised. *Mortgage loans with no income verification are available in most states, but not all states. Up to 75% LTV Purchase /Rate & Term. The mortgage company does verify that the applicant was in fact employed. He made what felt like the impossible, possible. The no doc mortgage options and no income verification loans were popular programs before the default rates kicked in. I started working with JC on getting the financing done, he is the most patient man on earth. In this day and age, customer service, I feel has become something of the past. $1,350,000 / 360 months = $3,750 monthly income. Starting from the communications, rates and processing time, everything was on the top. The lenders we work with provide financing to borrowers who cannot meet traditional underwriting criteria offer no income-verification mortgages to individuals and properties meeting the following guidelines: Up to 75% loan-to-value ratio based upon property type Very easy happy close all the way!! Fixed-rate mortgagesalso called "conventional mortgages"are basically the bread and butter of the mortgage industry. Within minutes after filling the application, I received a call from Andres. However, you should expect the lender to require a relatively high credit score. 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. Interest Only Option Available. Since lenders won't be looking at pay stubs and W2's, they might look to other . My husband and I have a very busy schedule at work but they were willing to stay after hours to help us. You no longer have to let your job history or income documentation prevent you from getting locked into a record low interest mortgage. Improve your credit score: A higher credit score can make you a more attractive borrower to lenders. This is not an advertisement for credit. We were treated like royalty, with compassion and warmth. If you have enough assets, the lender might be willing to move forward regardless of income. When they say they work fast, they mean it. In this case, you could be a candidate for a no doc or no-income verification mortgage. I am very grateful for your quick and professional work! Juan Carlo Rivera, was quick, professional and courteous. He took numerous calls, emails and texts from me daily. Find Nationwide lenders that specialize in no income refinancing, no doc mortgages and stated income home loans. No personal income required to qualify. Filling out this form puts you under no obligations. She walked through all the steps with me. Joelle was able to jump right in resolve the situation and help me close on my home. From the minute I applied for my bank statement only mortgage to the day I closed Joelle and Sheenaqua have gone above and beyond to make this happen. Thank you RK Mortgage Group and Thank you Joelle! We were able to apply, submit all our required docs and close in less than six weeks. Our family is grateful for all your help in securing our dream home!! Hallandale Beach, FL 33009, No Income Verification mortgage program is a perfect fit for investors who don't qualify for traditional financing based on their tax returns. Overall my experience was painless and i never felt alone, pressured or cheated. Gift funds are not permitted, and loans . Another option that more lenders are offering today is referred to as a Lite Doc loan. It can also be useful for those who want to keep their employment information private. I highly recommend RK Mortgage Group and Andres. No-documentation mortgage loans, also called no-income verification loans, make it possible to buy real estate without providing things like W-2s or pay stubs to prove your income. To qualify, you must deposit a 25 percent down payment for the total cost of the purchase transaction and obtain 65 percent Loan to Value (LTV) financing for refinancing. No-doc mortgages were more commonly known as stated-income loans before the . }) $1,000,000 + $350,000 = $1,350,000 total assets. Speak to a Loan Officer today (888) 508-6055 . If you don't have pay stubs due to self-employment and other situations, a No Income Verification Loan will not require them. Adam Lesner is a Mortgage Loan officer in Brighton, MI. Willing to pay substantially higher interest rates for the life of the mortgage loan. 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. I went to Joelle after my other mortgage broker gave me a pre qualification, let me sign a contract and then informed me he couldnt make it happened. window.ClickTable.mount(options); I also had the pleasure to work with Me'Me who is fast acting and together they make an excellent team. 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. Today we cover everything you need to know about getting approved for a no income verification home loan. I have worked with many different lenders in the past because I'm a Realtor. What loan does not require proof of income? The first step is to provide your lender with copies of your records that indicate your income. . . Thank you!!!! This is what RK Mortgage Group is. Strongly recommended! Find Your No Doc Rate? Excellent rates, no junk fees and great loan terms. I'm writing this review in my new house and Im thankful to RK Mortgage Group for this. Now you can shop and compare lenders that offer stated income home loan programs and opportunities to refinance mortgages with no closing costs. They had all the needed documentation ready on time for the closing. I called and spoke with Juan Carlos Rivera and gave him a brief run down on our info. We highly recommend him and RK Mortgage Group! All closing costs will be covered and there are no closing costs to the borrower. We wasted multiple months trying other mortgage companies. As with all mortgage types, including conventional loans and government-backed loan programs, there is a risk that the lender will repossess your home if you dont make your payments on time. 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. Get Expert Advice from Brokers and Lenders that Specialize in Alternative Home Loans. There was absolutely no surprise in the settlement. She was always available to answer my questions, and she guided me through the entire process. 20% Down & 80% No Income Verification Mortgage to Value available up to $3,000,000. Meeting the strict underwriting requirements of most lenders can be daunting, but we have at MortgageDepot. In the future, when it's time to refinance our home again, we will choose RK Mortgage again.. No doubt.. as they have earned our trust! A breakthrough in borrower qualification. no doc mortgage, no doc home, with no income verification, mortgage with no income requirements, 100% no doc mortgage, no income verification refi, no documentation mortgage, no doc stated income Saatchi, Ogilvy amp Rosenthal today 39 fees once your school come together are entitled. Thank you so much JC you are truly a blessing from above! 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. To apply for an FHA streamline refinance mortgage now, click APPLY NOW FOR A FHA STREAMLINE REFINANCE or contact me at 800-900-8569 or text us for a faster response. Do you have a problem cashing out money from a propertybecause you are self-employed or don`t show enough income to qualify? Lorie C, Fort Myers, Florida These loans are often referred to as hard money loans, and are usually offered by companies or individuals that lend to real estate investors. Can you get a mortgage without a verifiable income? Exceptional FHA and VA loans up to 100% (up to $4 million with VA Jumbo . 680 minimum credit score In this example, the real estate developer has more than six times the cash flow necessary to cover their debt obligations. I was really impress by the way that he answers all my questions and the promptness on how he answers back emails or calls. My situation was unique and they helped me navigate through the steps all the way to the closing table. 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. But potential homeowners pursuing this option will likely need a higher credit score and encounter higher mortgage rates. Juan Carlos Rivera and his team we outstanding through out the entire loan process. Certain state restrictions and requirements may apply. Many brokers and banks offer mortgages with unbelievable features, but they rarely end up closing the loan. Juan Carlos Rivera and RK Mortgage Group was amazing during this process of obtaining a mortgage for our new home. For example, you might be able to obtain a loan if you have ample cash reserves to cover the mortgage. In this case, the lender did not verify any of the income. Your dedicated Loan Specialist will work alongside your title company and stay involved from first call toclosing. After receiving an honorable discharge from the U.S. Marine Corps in 2008 Adam began his career in the mortgage business. No Income Verified Assets:
Excellent, excellent, excellent! Unfortunately, no doc mortgages when they are not underwritten properly have a higher default rate than regular mortgages. If you need a mortgage I recommend you call RK Mortgage Group. They walked me step by step through the mortgage approval process. Loans to $2 Million. The loan is qualified based on a value of the property and/or anticipated income the property will generate. Keep in mind that these types of no doc or limited doc loans will still have more stringent lending requirements than in the past. Thanks to RK we own our lovely house! I would recommend Joelle to any of my personal friends, family, and or colleagues!! If you are thinking about getting a mortgage for a home please contact Stephanie or MeMe. . Why Choose Us. Banks and government agencies overreacted and required tough underwriting requirements for virtually all mortgage loans. JC is up front and honest person. Took the time to explain everything. If you are purchasing a property, bank statements are only needed to . He is respectful and a complete gentleman. Yes there are several great options on these NonQM (as they are called) loans today. LTV up to 70% on Cash Out Refinance. At Mortgage Captain, we work with you to obtain a no income verification mortgages through our network of lenders in Ontario. Loan Amounts to $10M. No-Doc Loans offer extremely versatile qualifying guidelines coupled with flexible underwriting standard. I worked with Andres at RK Mortgage. No-income verification loan rates vary based on the lender, loan amount, loan term, and your specific financial circumstances. Bank statement loans will usually want to see 12-24 months of bank statements and positive cash flow to grant a loan. They had all the way to the closing table all my questions and the promptness on how he answers emails! 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