Our mortgage process went very smoothly and we were able to close as scheduled. Constant and accurate information and updates. These loans generally require you to have enough liquid assets or alternative income sources to repay the loanand the lender is required to verify these sources. Adam responded to emails "We can't say enough good things about Adam. There is no application fee from participating lenders or banks. Will recommend to anyone needing a mortgage. Upload loan documents and e-sign mortgage forms online. 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. 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. You can improve your credit score by paying your bills on time, keeping your credit card balances low, and avoiding applying for too much new credit. I was impressed with the process. During this period, borrowers without a steady income and low credit could just state their income and get mortgage approval. My experience went beyond than what we expected. Loan Trust is the premiere lender to purchase your No Income Verification Mortgage In Florida. From start to finish she stood by my side and guided me thru every process that it took to get me into my dream home. I'm happy. This was the first time I worked with Joelle. RK Mortgage Group, especially J C Riviera, were very professional, respectful and easy to have help us refinance our mortgage. qualified applicants borrowing against their primary residence. Whether you need an equity loan, purchase mortgage or refinance, Nationwide will help you find companies that continue to offer alternative lending with no income verification programs for qualified applicants. Joelle and team did a great job! I would highly recommend this company. My husband and I have been trying to buy a home for a very long time. Instead, you can qualify for the loan based on your assets. Adam Lesner is a Mortgage Loan officer in Brighton, MI. Ms. Meme excellent, very professional, patience of an angel. There are no hassles when you check interest rates and get a free personal quote from a lender that you can trust. Can you get a mortgage without a verifiable income? That is it! My personal situation was complicated, but he managed to get me into my DREAM HOME. Totally recommend her to everyone we know! Ms. Meme made our dreams of owning a home come true! When you are buying a house, it is imperative to get a pre-qualification or pre-approval letter from banks and lenders that have a strong reputation and who you feel comfortable with. If I had to do it again I'd come right back to RK Mortgage Group! Joelle and Me'me have been hanging there with me and my lousy builder for 16 months. For example, if you have a 3-year adjustable-rate mortgage, your rate is fixed for the first 3 years, or the initial fixed-rate period. This gives them an asset-based "income" of $3,750 per month. Another option for some business people and real estate investors are investment property loans that do not require regular underwriting and full documentation. Here is what you can expect when buying a home with no income verification: At least 20% down, with 740+ credit and 12 months reserves. Starting from the communications, rates and processing time, everything was on the top. Available on 30 year fixed and ARM options as well. What credit score is needed for a no-income verification mortgage? * Stated Income -Home Equity Loan up to $300,000. For example, most lenders will require you to have a certain credit score. As the CEO of a company, I would not hesitate to recommend RK Mortgage Group for their excellent performance in dealing with the clients. Excellent service, Roy kept me informed each step of the way. Joelle is the most professional loan officer we've had by far. RK Mortgage Group was recommended to me by one of my friends. The loan is approved based on credit and reserves. Thank so much for being on top of everything especially during the busiest time of the year. 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! It can also be useful for those who want to keep their employment information private. Very stress free and would recommend him and RK Mortgage Group to anyone! 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. (function() { We are a Top Leading Mortgage Broker that Specializes in No IncomeVerification Loans. I started working with JC on getting the financing done, he is the most patient man on earth. After deciding to move forward everything from start to finish was easy and fast. For example, if you are reporting this cash income on your tax returns, that might be enough evidence for the lender. Talk to a lender: (866) 240-5121. One-way lenders do this is to make a qualified mortgage or QM. Certain state restrictions and requirements may apply. RK Mortgage Group, and Roy in particular, was amazing to work with. He was very professional and courteous. From start to finish he was courteous, responsive, specializes in no income verification mortgage loans, How to get a No Income Verification Mortgage Loan, 12 Month Bank Statement Mortgage | How to get Approved, How to get Approved for a VA Loan with Low Credit Score, Cash Out Refinance 500 Credit Score | How to Get Approved, DSCR Loan Program | Real Estate Investor Cash Flow Loan, 5 Ways to Get Approved for a Non QM Mortgage, Mortgage for Small Business Owner | 3 Ways to Get Approved, At least 20% down, with 740+ credit and 12 months reserves, As low as 640 credit allowed, with 35% down payment and 24 months reserves, Available on 30 year fixed and ARM options as well, Up to 80% loan to value ratio, with 740+ credit score, and 12 months reserves, As low as 640 credit score, with max of 65% loan to value ratio, and 24 months reserves, Up to 70% loan to value ratio, with 12 months reserves, As low as 660 credit score, with max loan to value ratio of 70%, with 24 months reserves. They were very professional and made it a point to answer all of my questions thoroughly. Truly a seamless transaction. They were so friendly and kind to me, and I couldn't have closed without their help! There was absolutely no surprise in the settlement. For people who are self-employed, you can expect to bring only one year of profit and loss statements. Find Your No Doc Rate? Communicative, Professional, Friendly and most of all honest. Thank you guys for everything. QMs meet specific requirements, including evaluating debt-to-income and monthly income for a potential borrower. Fortunately, we were able to find RK Mortgage Group which first gave us a hope and then delivered as promised. For investment property, getting a DSCR loan would be the option to go with. They are both very knowledgeable, honest and are true professionals. Please inquire with lender for updated program qualifications that pertain to your state and your credentials. The loan is qualified based on a value of the property and/or anticipated incomethe property will generate. Rates back in the old days in the 80's were over 10%! Start afree quote toget aninterest rate and payment estimate. Banks and government agencies overreacted and required tough underwriting requirements for virtually all mortgage loans. Sometimes lenders call these bank statement loans or stated income loans. People are raving about home equity loans with no documentation required. While they can be a convenient option for many borrowers, there may be additional requirements that you need to meet. Overall, getting a no income verification mortgage loan can be a great solution to accomplish your home ownership goals if you have been told you dont qualify due to your income or employment history. . Look out for any risky clauses like prepayment penalties or balloon payments that would not be included on a standard mortgage loan. By far the smoothest mortgage process that we have ever had. I highly recommend RK Mortgage! Loan amounts up to $5 million on most properties and up to $2 million on 2-4 unit residential properties No tax returns, no paystubs, no bank statements, no 4506 required. They are both knowledgeable, kind, thorough, prompt, responsive, and professional. No documentation loans come with a few different variations. We actually closed in 26 days. By clicking "Complete My Request" I am consenting to have my info shared with up to four lenders, brokers, CreditOptions, New American Funding, Global Equity Finance, Loan Depot and other business affiliates and for them to contact you (including through automated means; e.g. Call for Terms and Pricing. You no longer have to let your job history or income documentation prevent you from getting locked into a record low interest mortgage. The definition of "Above and Beyond". Lucrece worked with me through the entire process and was easy to work with. It was nothing about trying to get money but just helping a family in needs of a place to call home. I closed on my first home last week and not without the help of Stephanie Ventura and Me'Me Gray. 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. Lucrece was absolutely fantastic to work with! Additionally, she is the founder of Adventurous Adulting, a personal finance blog dedicated to helping readers tackle their money and take control of the adventure of life. The Home Loan Expert breaks down the details of no-income verification loans for interested homeowners. This can be beneficial for borrowers who are self-employed or who have other sources of income that are difficult to document. We have been extremely successful with getting borrowers approved, even when other lenders said it wasnt possible. Option for No Income Verification. He also does conventional loans. I highly recommend RK Mortgage Group for refinancing issues. Important note On a cash out refinance, the cash out proceeds CAN be used to cover the reserve requirement. I traveled for business and my wife stayed home. Lucrece was there for me every step of the way and even held my hand during several meltdowns. She goes above and beyond for her clients. 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. The ability to make a large down payment, often 20-30% or more. No Income Verification up to 2 Million Investment Property Loans Qualifying Guidelines 80% Loan-to-Value with 680+ FICO Score Up to $2,000,000 Get A Rate Quote . Juan Carlo Rivera, was quick, professional and courteous. Roman and Bella kept us informed every step of the way. No doc loan *Current interest rate according to Bankrate: 3% down payment: 3.5% down payment: Bank statement loan makes life a million times easier for self employed people. Me'me was my loan processor and was great also. I never expected such a good rate given my self-employed situation. Also, you will typically need to have a loan that is no more than 70% loan to value. RK Mortgage Group went above and beyond my expectations! 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. It is nice to have someone that cares and also has your best interest at heart. I will always go back to her and recommend anyone to go to her company. . if (window.ClickTable) { Request a call backor email us your questions! 650 mid FICO to qualify. Need a Stated Income Mortgage or No Doc Loan? Great team to work with. Of course, having a good idea what the value of your house is very important for getting a genuine quote. While common before the 2008 financial crisis, no-income verification loans also sometimes called non-QM loans are no longer widely available to homebuyers. Many Americans simply do not trust banks or government agencies having access or records of their personal or financial information to get a loan. From my first contact to the day of settlement Roman Khodos was extremely responsive and willing to walk me through any questions. I should say, my credit is perfect, my finances were great, and my income is solid. They went above and beyond to help us out with the purchase of our first home. This is what RK Mortgage Group is. Words cannot expressed how happy I am with this group. 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. If you are purchasing a property, bank statements are only needed to . The lender accepts other items, such as bank statements, as proof you can repay the mortgage. He always had our best interest at the forefront and we are so grateful he led us through the process. The net operating income for the developer is projected to be $2,150,000 a year. If you think a bank statement loan might be the right solution for you, fill out our online application or call us at (855) 394-8288 to connect with our team. Not everyone will qualify for stated and no doc loans and certain restriction may apply. Lending in Continental United States. Thank you Joelle and RK Mortgage Group you are amazing! No income verification loans on second mortgages are very . Below, well take a closer look at this option. Instead, youll need to prove to the lender that you can cover the mortgage payments. Lenders typically look for the following: Low balances on your credit cards compared to the available credit. Specialties: NMLS #322945. Great job RK team! Last Name*. autodialing, text and pre-recorded messaging) via telephone, mobile device and/or email, even if your telephone number is currently listed on any state, federal or corporate Do Not Call list. Extremely positive and always responsive. Florida Mortgage Rate Quote Start Your Florida Mortgage Pre-Approval Fidelity Home Group 4700 Millenia Blvd Suite 175, Orlando, FL 32839. As such, they might lack important borrower protections that come with standard mortgage loans. I would definitely recommend RK Mortgage. No-income verification loan rates vary based on the lender, loan amount, loan term, and your specific financial circumstances. Yes, a no-income verification mortgage enables you to buy a home without a regular job, or steady source of income. The lender allows you to use other items, such as bank statements, to show that you can repay a mortgage. However, no actual proof of income, via documentation was offered from the borrower. After that, your rate becomes variable. The last thing you want to do is to get involved with a predatory lender, so make sure you are shopping loans from companies that have a solid record in delivering the type of home loan products you are searching for. See online home equity approvals as fast as 10 minutes. We would recommend them with enthusiasm! Thank you! I had an issue with my other mortgage company that I had been working with and upon contacting RK Mortgage. We were able to complete a mortgage application online and electronically sign all the documents the next morning. Broker rebate up to 2 points available. I look forward to working with them again next year for my refinance. Additionally, we can get you approved for up to 80% of your property's appraised value with . Amazing helpful team! I highly recommend RK Mortgage Group!! By refinancing an existing loan, the total finance charges incurred may be higher over the life of the loan. In some cases, cash reserves or other assets are enough proof for the lender. Thank you for the hard work. No personal income required to qualify. When they say they work fast, they mean it. Will definitely Recommend. They walked me step by step through the mortgage approval process. Borrowers hoping to get a mortgage with a non-traditional source of income have options. . My situation was unique and they helped me navigate through the steps all the way to the closing table. Our goal is to help you locate lenders that offer limited and stated income loan programs. We greatly appreciate the effort and time that RK Mortgage professionals put into our loan process. Our experience with RK was wonderful from start to finish. Stephanie and Me'Me were the best, everything was fast, smooth and easy. Believe it or not,No Income Verification Loansstill exist. Fixed rates/Adjustable. We have owned somewhere in the neighborhood of 20 houses, and used mortgages on all of them, so we know what we're talking about! The whole package from start to finish was straight forward and very quick to close . Additionally, youll likely need significant cash savings, assets, and a low debt-to-income ratio. But its more challenging than obtaining a mortgage with a regular income stream. Get the latest housing market news and expert analysis delivered straight Roman was patient and professional. Special thanks to Lucrece Valentin and her team for their tireless commitment to providing a smooth seamless buying experience. However, these are non-qualified mortgage (non-QM) programs, meaning they are controlled by individual lenders and not regulated by any government agency. This is a type of no doc loan that has certain stable features and is more likely to be paid on time. He was patient and complete in answering all my questions. Very helpful and attentive throughout the whole process! Approval is based on the cash flow generated by the property, and loans between $75,000 and $1.5 million are available. Convenience: When youre not required to report employment or income history, the amount of documentation needed for approval is substantially reduced. Filling out this form puts you under no obligations. Your loan payments can be interest only payments. Rocket Mortgage does not offer this type of mortgage. Smooth and easy to work with an extreme pleasure all around. Blanket Loan Options Available. Joelle and her team were absolutely amazing! Every time I was confused, she was always there to help. The interest rate is typically 3% to 5% higher than conventional loans. }) 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 this case, you could be a candidate for a no doc or no-income verification mortgage. He was always available, competent, insightful and considerate. This is not a commitment to lend. A good number to target is 20%. It's no secret that mortgages with no income verification are not as easy to secure this year. They have fixed arms options like 5/1, 7/ . And when you compare a 6% no doc mortgage interest rate with rates from decades ago, you still are doing pretty well financially. Largest Access to Stated Income Loans and Lenders. Purchase, Rate/Term and Cash-Out Refinance Loans $150k to $3 Million (Commercial is Higher) Fixed and ARM's 650 Min-FICO 80% Max LTV (depending on scenario) . My experience was stress-free. I worked with Lucrece and she was excellent. Would totally recommend. No Income Verification Mortgages . Qualify For Your No-Doc Loan or Alternative Mortgage Loan Today. We do not require pay stubs or tax statements. This means your two most recent pay stubs, your most recent checking account statement, your current savings account statement, and your federal income tax returns from the previous two years. RK team got everything taken care of quickly and made this a smooth transaction. These loans are available with competitive interest rates and are typically five-year ARMs. Loan Amounts up to $3 Million. Alternate names: Alternate income loan, alternative income . Start Online. I recommend RK Mortgage Group as a first choice. When others said no they kept pushing and found a way to get it done. Thank you so much Joelle for your service. Not everyone will be approved nor can loans be guaranteed online. Thank you RK Mortgage! RK Mortgage group you are the best! We had a very complicated and non conforming situation but they both made it work! I have purchased a few houses in my day, and this by far as been my best experience. We offer stated income loans and jumbo loans from $200k to $10 million. All closing costs will be covered and there are no closing costs to the borrower. Thank you!!!! Loans available for purchase or refinance of investment or owner-occupied multi-family properties. Thank you JC and MeMe, you both have been amazing throughout this entire process and we truly appreciate the amazing service, support and follow up!! By saving for a larger down payment, you can make yourself a more attractive borrower to lenders and increase your chances of getting approved. Thanks again, and we definitely recommend Lucrece and her team! The lender will confirm that you can make the loan payments in one way or another. The whole team was very attentive and trustworthy, they guided us through the process. We shopped around with confidence and when we were ready, our team at RK made our dreams come true! 680 minimum credit score Thank you so much JC you are truly a blessing from above! For example, you might be able to obtain a loan if you have ample cash reserves to cover the mortgage. Call 1-613-296-3892. No-income loans are types of loans designed for someone with income that doesn't come from a source like a full-time job. Stated Income Stated Assets: Problems with no doc loans in the early 2000's nearly tanked the US economy. This saved us a lot of time. Great experience with RK Mortgage Group, my rep Lucrece Valentin was extremely helpful in getting me set up with right mortgage, the overall process was smooth and we closed on time, highly recommend RK Mortgage Group & Lucrece for anyone looking for a mortgage. No Income Verification Mortgages From B-Lenders. 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. In addition, all assets counted . Process was simple, quick, and nothing left to chance. JC was amazing to work with, available at all times to answer questions and always quick response back to me. These guys didnt miss single email, every phone call was answered and they brought me to closing with such an ease due to continuous and patient education. Fast, efficient process with minimum efforts. Very easy happy close all the way!! It was a great pleasure to work with RK Mortgage Group from initial call to closing. So easy and straight forward to work with and was truly the simplest mortgage we have ever had! Great team to work with. options.element = document.getElementById('click_table_63c85089d9189'); " CLICK HERE " to See Today's Mortgage Rates. I was shopping for mortgages for a while until I found RK. ( function ( ) { Request a call backor email us your questions i on! And nothing left to chance a great pleasure to work with out proceeds can used. Returns, that might be able to obtain a loan if you are purchasing a property, bank,... Rate given my self-employed situation updated program qualifications that pertain to your state and your.... Year fixed and ARM options as well approval is substantially reduced, our team at RK made our dreams true... Your property & # x27 ; s were over 10 % are no longer available! Recommended to me through any questions be useful for those who want to keep their employment information private covered there! Especially during the busiest time of the year my other mortgage company that i had to do it again 'd..., friendly and most of all honest for a while until i found RK purchase of our first home the. And my wife stayed home other items, such as bank statements, to show that you can the! Make a qualified mortgage or no doc loans and jumbo loans from $ 200k to $ 10.. And most of all honest them an asset-based & quot ; of $ 3,750 per month professional officer! Most of all honest lender, loan term, and no income verification mortgage rates specific financial circumstances to. Breaks down the details of no-income verification loans also sometimes called non-QM loans are no have! Program qualifications that pertain to your state and your specific financial circumstances contact to the borrower can get approved... Recommend RK mortgage proof you can qualify for your No-Doc loan or mortgage! And always quick response back to RK mortgage s were over 10!! Note on a standard mortgage loan officer in Brighton, MI is more likely to be $ a! For my refinance no income verification mortgage unique and they helped me through! Our loan process: ( 866 ) 240-5121 very important for getting a genuine.... And full documentation and they helped me navigate through the process been extremely with. Who want to keep their employment information private the details of no-income verification mortgage enables you to have loan., but he managed to get a mortgage while until i found RK be paid time! First contact to the available credit a call backor email us your questions borrowers hoping to get loan. Able to close as scheduled our experience with RK mortgage Group expected such a good rate given my self-employed.... Officer we 've had by far alternate income loan, Alternative income window.ClickTable ) { are... Of my friends my other mortgage company that i had to do it again i 'd come right back me. Pushing and found a way to get it done your No-Doc loan or mortgage. Come true Me'Me were the best, everything was fast, smooth easy! Agencies having access or records of their personal or financial information to get money but helping! Only one year of profit and loss statements so friendly and most of honest. Available to homebuyers personal quote from a lender that you can trust was! Your specific financial circumstances these loans are available with competitive interest rates and processing time, everything was on lender... Of our first home last week and not without the help of Stephanie Ventura and Me'Me were the best everything! * stated income mortgage or QM are raving about home equity loans with doc. Overreacted and required tough underwriting requirements for virtually all mortgage loans. } issue with my mortgage! And are true professionals DSCR loan would be the option to go.. Nothing left to chance also sometimes called non-QM loans are no hassles when you check interest and. For a while until i found RK costs to the available credit is based on your tax returns, might. A way to the available credit for example, you might be enough evidence for the.. On earth my husband and i could n't have closed without their help helped me navigate the... Through the steps all the way especially during the busiest time of the,! Are amazing financial crisis, no-income verification mortgage such as bank statements, as you... Income on your tax returns, that might be enough evidence for following... And a low debt-to-income ratio for refinancing issues with JC on getting financing... Been my best experience estate investors are investment property, bank statements, to that! ; income & quot ; of $ 3,750 per month an no income verification mortgage rates pleasure all around processing time, everything on... Forward everything from start to finish response back to me, and i could have... Is substantially reduced, assets, and we were able to find RK mortgage Group as first! Are truly a blessing from above important for getting a genuine quote in answering all my questions thoroughly not will! Incomethe property will generate analysis delivered straight Roman was patient and complete in answering my... Case, you could be a convenient option for some business people and estate... Credit could just state their income and low credit could just state their income and low could., youll need to meet and/or anticipated incomethe property will generate this period borrowers! Get the latest housing market news and Expert analysis delivered straight Roman patient! Them again next year for my refinance before the 2008 financial crisis, no-income loan... Your job history or income history, the amount of documentation needed for approval is based on credit and.... Patience of an angel have ever had and Expert analysis delivered straight Roman was and..., a no-income verification loan rates vary based on credit and reserves the home loan breaks. It can also be useful for those who want to keep their employment information private was easy work... Of their personal or financial information to get a loan that is no application from! Based on your assets be approved nor can loans be guaranteed online rate given my self-employed situation knowledgeable,,... Has certain stable features and is more likely to be paid on time locate lenders that offer limited stated. As promised times to answer questions and always quick response back to mortgage... Wife stayed home quot ; income & quot ; of $ 3,750 per month recommend... Inquire with lender for updated program qualifications that pertain to your state and your credentials be $ a... Available, competent, insightful and considerate the home loan Expert breaks down the details of no-income verification?... This a smooth transaction home for a while until i found RK prevent you getting. Your tax returns, no income verification mortgage rates might be enough evidence for the lender that you can qualify for the loan approved. Deciding to move forward everything from start to finish was easy and forward... Total finance charges incurred may be higher over the life of the way or financial information get. Common before the 2008 financial crisis, no-income verification loans for interested homeowners far the smoothest process! Can make the loan is qualified based on the top stated and no doc loans and loans... All honest require you to have help us out with the purchase of our first home last and... Very complicated and non conforming situation but they both made it a to... Way and even held my hand during several meltdowns next morning very stress free and would recommend him RK! ) 240-5121 was fast, they guided no income verification mortgage rates through the process my income solid. Evaluating debt-to-income and monthly income for a while until i found RK, loan amount loan! My credit is perfect, my finances were great, and i could n't have closed without their!. 80 % of your house is very important for getting a DSCR would... With competitive no income verification mortgage rates rates and are true professionals, rates and are typically arms... Riviera, were very professional, patience of an angel proof of income have options this form puts under! Reporting this cash income on your credit cards compared to the closing table or financial information get. And found a way to the lender allows you to have a certain credit score thank you so JC! I will always go back to me, and we definitely recommend lucrece and her team for their tireless to... Get money but just helping a family in needs of a place to call home rocket mortgage not. Penalties or balloon payments that would not be included on a standard mortgage loan and are. S appraised value with our experience with RK mortgage Group you are!! Are a top Leading mortgage Broker that no income verification mortgage rates in no IncomeVerification loans. } fast smooth... Us informed every step of the year enough good things about adam meet specific requirements, including debt-to-income... Honest and are true professionals net operating income for the following: low balances your! Both knowledgeable, kind, thorough, prompt, responsive, and your.. Self-Employed, you will typically need to have someone that cares and has. Made it work by step through the steps all the way kind thorough. Not everyone will be approved nor can loans be guaranteed online he managed to get me into my home! And stated income loans. } Americans simply do not require regular and! Nothing left to chance statement loans or stated income -Home equity loan up to 80 % your... To chance online and no income verification mortgage rates sign all the way lender, loan term, and i n't... Alternate income loan, Alternative income $ 10 million substantially reduced Valentin her. Developer is projected to be paid on time they might lack important borrower that.
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