Joelle worked tirelessly to help us get a hard money loan so that we could get this house and renovate it. Strongly recommend to call RK Mortgage for all your mortgage needs. While a "true" no income verification mortgage no longer exists, lenders can qualify you for a mortgage based on almost any kind of cash flow. He was very prompt on getting back to you and making what can be a stressful process very easy. Highly recommend! 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. Getting to the closing table will not get easier than working with this great team. I closed on my first home last week and not without the help of Stephanie Ventura and Me'Me Gray. I'm happy. She goes above and beyond for her clients. No income verification loans on second mortgages are very . As an insurance agent that works with many lending officers throughout the state, team Joelle Maximilien-Miller & MeMe Gray are by far the standard for professionalism and efficiency. Joelle at RK Mortgage Group was fantastic to work with and made a very difficult process stress free. Loans to $2 Million. RK Mortgage is an awesome company to do business with. First I want to express my deepest gratitude to Juan Carlos Riviera for his patience, courtesy and professionalism. Father of 2 beautiful girls, husband to his amazing wife of 17 years. Great company. There is no minimum income required to buy a house. These mortgages are high risk to lenders and borrowers, and most lenders have now removed . If you get paid in cash, it might be possible to get a mortgage. I highly recommend them. I had a very short time frame to close and they managed to get everything moving, especially in COVID! I would highly recommend using RK Mortgage Group for all future loans. We have been extremely successful with getting borrowers approved, even when other lenders said it wasnt possible. But potential homeowners pursuing this option will likely need a higher credit score and encounter higher mortgage rates. Up to 75% LTV Purchase /Rate & Term. Thank you! Roman Khodos a personable, helpful, knowledgeable and highly professional. After a pre-approval letter was written from the initial mortgage company I was working with, they denied my loan. Thanks again for a great service. Thank you so much JC you are truly a blessing from above! Very easy happy close all the way!! USDA vs FHA: Which low down payment loan is best for first-time home buyers? Sometimes lenders call these bank statement loans or stated income loans. These loans will have similar mortgage rates . But a bank statement loan is designed to provide the lender with a way to verify that the person has enough income to pay the loan. We had issues with IRS, permits for the insurance, employment gaps - you name it; however, her team managed to work things out and we closed according to the plan. It is nice to have someone that cares and also has your best interest at heart. No-doc loans . Extremely positive and always responsive. Important note On a cash out refinance, the cash out proceeds CAN be used to cover the reserve requirement. It will use these factors to decide if you should get the loan. How can I get approved for a mortgage without proof of income? Thanks. Thank you!!!! Fixed rates/Adjustable. Its always a good idea to consult with a mortgage broker to determine the best option for your financial situation. No income verification mortgages, also known as stated loans or reduced documentation loans, were popular in the early 2000s and offered a loan to anyone with a minimum credit score with no verification of income required. She kept me informed and closed on time. They were so great to work with, Joelle and MeMe, thanks again. Because the kitchen cabinets and most of the flooring was missing, it was considered unlivable and therefore could not get a normal mortgage. In most cases the borrower is using savings in a bank in lieu of monthly income documentation. We found the home we fell in love with and the deal was completed within 5 weeks. Our no income verification loans for W2, Self-Employed or Business Owner borrowers. I had an issue with my other mortgage company that I had been working with and upon contacting RK Mortgage. RK team got everything taken care of quickly and made this a smooth transaction. var options = {"display_percent":"","instance_v2":"5cb4ef89ea4aae7421d684e8","instance":""}; 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. She worked hard to make sure I received the lowest rate and the best deal. We thought we were not going to be able to buy the house, but she made it work for us. Debt-To-Income (DTI) is Not Calculated. Strongly recommended! How can I buy a house without 2 years of income? Always fast to respond to phone calls and any concerns, great with answering unlimited questions of first time homebuyers, explaining every step of the way, and simply getting things done. He always had our best interest at the forefront and we are so grateful he led us through the process. The Home Loan Expert breaks down the details of no-income verification loans for interested homeowners. Me'me was my loan processor and was great also. No Doc Home Loans Explained - Mortgage 101. . He was patient and complete in answering all my questions. We're based in Southern California and can lend in most states Nationwide under our business purpose loans. No Income Verification Mortgage Loans on Primary Residence, Second Homes and Investment Properties up to $3 Million., No income documentation Mortgages. They stricter lending requirements with full documentation mandates slowed the US economy and kept more Americans renting. I highly recommend Joelle and RK Mortgage Group! Self employed borrowers should also review our, Qualification based on property cash flow, 2 years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu, No limit on number of properties financed. This can be appealing for self-employed individuals or those who have fluctuating or hard-to-verify income. Joelle and Me'me have been hanging there with me and my lousy builder for 16 months. 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. Improve your credit score: A higher credit score can make you a more attractive borrower to lenders. Start Online. It was a great process. Be Prudent when Shopping Online for No Income Verification Loan Programs: If you are buying a house, you need to ask the lender what the minimum credit score is, what the minimum down-payment requirement is and whether you will need to supply statements for the lender to verify assets. This type of loan doesnt require standard income documents to finalize your loan. You need to have an IRS 1099 or be retired, but with a steady income. Banks and government agencies overreacted and required tough underwriting requirements for virtually all mortgage loans. For example, most lenders will require you to have a certain credit score. 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. My personal situation was complicated, but he managed to get me into my DREAM HOME. You do not provide any pay stubs, W-2s, or tax returns. Meeting the strict underwriting requirements of most lenders can be daunting, but we have at MortgageDepot. No-income verification mortgages, otherwise called stated-income mortgages, use non-standard means of income documentation. Thank you very much Eric C and your whole team for your unbelievable efforts to help me and my wife buy our first home. You can get approved for a mortgage loan without proof of income by providing proof of assets. No Income Verification Mortgage. I highly recommend RK Mortgage Group and Andres. They educated my wife and myself on the process and helped us make an informed decision . So easy and straight forward to work with and was truly the simplest mortgage we have ever had! But being self- employed doe have its setbacks, and for me this was one of them. Yes, these rates impact your monthly mortgage payments, but they also impact options for homebuyers that include loans terms like a 15-year or 30-year mortgage, using fixed-rate or adjustable-rate . The mortgage company does verify that the applicant was in fact employed. . * Full-Document -Home Equity Loan up to $500,000. Your dedicated Loan Specialist will work alongside your title company and stay involved from first call toclosing. You may be able to get a mortgage without a job. Rates back in the old days in the 80's were over 10%! No Income Verified Assets: If your looking for help feel free to contact us toll-free at 1-877-383-1577 or apply online today. RK Mortgage Group, you're the BEST!!! On fixed-rate loans, the fixed-rate period is the life of the loan (30-year fixed, for example). Awesome job RK Mortgage Group! She was always available to answer my questions, and she guided me through the entire process. These loans are available with competitive interest rates and are typically five-year ARMs. I surely will use his services again in the future!!!!!!!! No tax returns! Most investors use these limited documentation loans for fix and flip properties. This is available on rate and term refinance as well as cash out refinance. Need a Stated Income Mortgage or No Doc Loan? People are raving about home equity loans with no documentation required. No Income Verification Mortgage. Adam responded to emails "We can't say enough good things about Adam. Up to 80% LTV. Debt-to-Income NOT Calculated. I worked with Lucrece and she was excellent. Thank you guys! I was working with Roy and Me'Me. With the passing of the Frank-Dodd Act of 2010, stated income loans for owner-occupied properties are now illegal. In lieu of pay stubs, W-2 forms and tax returns, lenders may accept bank statements as proof of income. Special thanks to Lucrece Valentin and her team for their tireless commitment to providing a smooth seamless buying experience. But instead of looking at your W-2s, pay stubs, or tax returns, the lender lets you provide proof of your financial stability in other ways. Process was simple, quick, and nothing left to chance. Lending in Continental United States. Ms. Meme made sure we were happy with our mortgage experience. Highly recommend! We could never properly express our gratitude to MeMe or Roy! The loan is qualified based on a value of the property and/or anticipated income the property will generate. Roy/Me'Me made my dreams of becoming a homeowner again possible. Lucrece was absolutely fantastic to work with! 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. Start afree quote toget aninterest rate and payment estimate. They walked me step by step through the mortgage approval process. Thank you RK Mortgage Group Inc. We highly recommend them to anyone purchasing a home. Very professional and easy to work with. No-doc . If you are refinancing, you need to find out what the fico score and loan to value requirements are before making a commitment. Lucrece was the best! I highly recommend RK Mortgage Group!! Adam Lesner is a Mortgage Loan officer in Brighton, MI. When you apply for a mortgage, the lender wants to ensure that you have the financial resources to repay the loan. 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) . You should have your financial life in tip-top condition if possible. This should provide your lender with enough information . I traveled for business and my wife stayed home. The first step is to provide your lender with copies of your records that indicate your income. This company was such a pleasure to work with. Loan amounts up to $5 million on most properties and up to $2 million on 2-4 unit residential properties I recommend anyone who is looking to purchase a home to contact Eric is a pleasure to deal with always on top of things and guess what HE DELIVERS!!! As soon as I sent her correspondence, she responded promptly. Some organizations, like Mortgage Depot, offer a no income check program. This can be appealing for those who do not want to disclose their income or employment to a lender. The best way to find out if a no income verification loan is the right financing choice is to speak with a MortgageDepot loan officer. 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. 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! The definition of "Above and Beyond". 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 . I had the best experience of my life with RK Mortgage Group. Are you getting declined from your current lender because you don`t qualify for a Mortgage? . Lucrece was very helpful and gave us hope about the refinance. No-income-verification mortgages are a type of nonqualified mortgage. I must mention that I was very impressed with the great and prompt communication I had with Joelle and Me'me. My questions were answered quickly and professionally. Find Nationwide lenders that specialize in no income refinancing, no doc mortgages and stated income home loans. Thank you for getting it done! If you are thinking about getting a mortgage for a home please contact Stephanie or MeMe. They were efficient and helpful all the way through the process. Talk to a lender: (866) 240-5121. } From the minute I applied for my bank statement only mortgage to the day I closed Joelle and Me'me have gone above and beyond to make this happen. Working with RK team was truly a pleasure. LTVs up to 75%. Most banks and lending companies do not offer no verification loan refinancing or purchase loans. Thanks again, and we definitely recommend Lucrece and her team! Some borrowers would rather not disclose their bank-statements, pay-stubs and tax returns. Loan was closed on time. I, wholeheartedly, recommend Juan Carlos for all your lending needs. Joelle and Me'me were the only positive experience in our 16 months journey building a home in Lakewood Ranch, FL. Thank you Joelle and RK Mortgage Group you are amazing! It can also be useful for those who want to keep their employment information private. You, guys, did a great job! In this example, the real estate developer has more than six times the cash flow necessary to cover their debt obligations. Specialties include: Portfolio lending, Investment property loans, mortgage for self-employed, Non-Conforming mortgage lending, and non-warrantable condos. Do not waste your time with people who quote you loan terms without assessing your credit, and debt ratios. As low as 640 credit allowed, with 35% down payment and 24 months reserves. Me Me was tough with HOA. Up to 80% LTV Purchase / Rate & Term or 75% LTV Cash Out Refinance. By refinancing an existing loan, the total finance charges incurred may be higher over the life of the loan. I am now a homeowner. In short, there is no income verification, no income documentation, no tax returns, and on certain refinance transactions you will not have to provide any bank statements. She was reliable and always reachable one way or the other. 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. Theyre extremely professional and great at what they do. I'm self employed and they made the process super easy. They went above and beyond to help us out with the purchase of our first home. Loan Amounts to $10M. I am eternally grateful. Borrowers hoping to get a mortgage with a non-traditional source of income have options. I have purchased a few houses in my day, and this by far as been my best experience. I was shopping for mortgages for a while until I found RK. 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. | 2023. For people who are self-employed, you can expect to bring only one year of profit and loss statements. Thank you for the seamless experience! Bank statement loans will usually want to see 12-24 months of bank statements and positive cash flow to grant a loan. Ms. Meme excellent, very professional, patience of an angel. We always knew exactly what we needed to do during our refi process. A breakthrough in borrower qualification. 680 minimum credit score We highly recommend RK Mortgage Group. We shopped around with confidence and when we were ready, our team at RK made our dreams come true! My husband and I have been trying to buy a home for a very long time. During this period, borrowers without a steady income and low credit could just state their income and get mortgage approval. Although you cant get approved for a traditional mortgage without proof of income, there are other loan options when trying to obtain a primary residence. (function() { Eric was always a phone call away to assist me with any questions.. (Lords knows I had a lot.) The loan is qualified based on a value of the property and/or anticipated incomethe property will generate. Our Loan Consultants are ready to answer your questions about this No Income Verification Program. Her professionalism was like no other.
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