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Non Qualifying Home Loans                                                                                                 

No Documentation or non qualifying home loans are a simple solution in today's market. We offer a suite of programs collectively referred to as No Documentation loans. These non qualifying home loans assist borrowers obtain mortgage financing when their income, employment or assets are difficult to verify. 

No Doc loans fall into three categories:

NO Doc

No Documentation loans require no employment, income, or assets to be stated on your application. No information is verified beyond your credit profile and value of the property. We allow as little as a 5% down payment. If you have past credit issues you will need a slightly higher down payment but I can get the loan done. Rates are 1 to 1.5% higher than conventional financing and are available on both fixed rate and adjustable mortgages. More detailed information on No Doc Non Qualifying Home Loans

No Ratio

A No Ratio loan is a good choice as you do not state any income information and your rate will be less than for a No Documentation loan. Because we do not need income information, no debt ratios are calculated. We will verify employment and assets. More on No Ratio Non Qualifying Home Loans.

Stated Income

Stated income mortgages are the least expensive option. We verify employment and assets, income is stated on the application but not verified. Your stated income must be reasonable for your occupation and assets. Rates are usually only .500% above conventional rates. More on Stated Income Non Qualifying Home Loans.

 

Property and Occupancy types

Non Qualifying Home Loans allow purchasing or refinancing a single family, townhouse or condo. An investment property or Vacation home is also acceptable.  While most lenders only offer these programs up to $417,000, we also offer Jumbo No Doc Loans.

Be sure to visit the Mortgage Library.

As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your consumer and mortgage debt is structured today can have a life changing effect in the years to come.  Read more about this free, no obligation service.

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