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Non Verifiable Income Mortgage Loan  is currently unavailable

Non Verifiable Income Mortgage Loan products are the most commonly used and least expensive product in the reduced documentation suite of mortgage loan programs. A Non Verifiable Income Mortgage Loan is often the perfect choice if you have verifiable employment (self employment is fine) and assets. Income that is Non Verifiable on the mortgage application must be reasonable in terms of your occupation and assets 

The Non Verifiable Income Mortgage Loan is the least expensive reduced documentation product if it works for you. If not, a No Ratio or true No Doc mortgage but may be a better choice. Email Non Verifiable income mortgage loan questions.

Available Non Verifiable Income Mortgage Loan Terms

Non Verifiable Income Mortgage Loan products are available as:

30 year fixed rate require only 5% equity however, rates are lower with more equity. 100% Non Verifiable Income mortgage loan products are now available for owner occupied residences. Perfect credit is required for a Non Verifiable income mortgage loan but only 2 months of liquid reserves.

1, 3, 5, and 7 year ARMs are available. Home Equity Non Verifiable income mortgage loan and Second Mortgage programs are available.

Allowable Use and Property Types

Non Verifiable Income Mortgage Loan products are available for Single Family, Townhouse, some manufactured housing, and low rise condos. Some programs allow high rise condos 2-4 unit buildings, second homes, or investment properties but are slightly more expensive or require more equity. Allowable uses are for purchase or rate and term refinance. The programs will allow a "cash out" refinance but there are limitations on the allowable cash back. Please contact me with the specifics of your situation for guidance. If you are unsure a Non Verifiable Income Mortgage Loan is the right answer for you, I have included a page on traditional mortgage documentation requirements which may be useful.

The fundamental thing to keep in mind with true NO Doc Mortgages is that the lender only has your credit profile and property to evaluate. If your situation allows verification of either employment or assets you will save some money because you have lowered the lenders risk. The choice is yours.

Underwriting Guidelines

Some guidelines for a Non Verifiable Income Mortgage Loan.
  • Minimum middle credit score is 620
  • 5 credit accounts are required. .
  • Bankruptcy and foreclosures must be discharged for 3 years with reestablished credit
  • Two years employment with same employer
  • Two months PITI reserves are required with an LTV <=80%. 6 months reserves are required otherwise.
  • 5% minimum down payment is required from your own funds.

 Please email me with any questions about a Non Verifiable income mortgage loan

Read more about Non Verifiable Income Mortgage Loan Closing Costs

Non Verifiable Income programs allow you to purchase or refinance a single family, townhouse or condo. An investment property Non Verifiable Income Mortgage Loan can be a single family, 1-2 unit, townhouse or condo. Vacation homes also can be a single family, townhouse, or condo. The loan program can be used with our construction/perm program.

Many of my clients are converting from fully amortizing payments to a Non Verifiable income interest only approach with a significantly lower monthly payment. I have some extensive information available. Read more to see if this powerful tool could work for you.

* I have included a section on the new Cash Flow Non Verifiable Income Mortgage Loan. A LIBOR or MTA based product which gives you complete flexibility in managing your mortgage.

I have included a page on documentation requirements.

I have a page on calculating your qualification ratios.

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.

Non Verifiable Income Mortgage Loan Prequalify for your Non Verifiable Income Mortgage Loan.


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