No Ratio mortgage loans are for borrowers who do not wish to disclose their income; therefore there is no debt-to-income ratio for the lender to consider. The No Ratio borrower has good credit and abundant assets that make up for the lender not considering the borrower’s income information.
No-income verification mortgages, also called stated-income mortgages, allow applicants to qualify using non-standard income documentation. While most mortgage lenders ask for your tax returns, no-income verification mortgages instead consider other factors such as available assets, home equity and overall cash flow.
NO INCOME VERIFICATION – Loans where your income is not requested or verified are limited to 70% Loan to Value. The borrower has to bring at least 30% down payment. The type of loan that is best suited for a particular borrower depends on that borrower’s situation.
If you have unverifiable income generating from substantial savings the no income verification loan might be best Texas mortgage you can use to purchase real estate. A No Doc or No income verification Texas loan is not for everyone, if you fit the loan parameters, it can be a great tool for buying real estate.
Click to share on Twitter (Opens in new window) Click to share on Facebook (Opens in new window) Click to email this to a friend (Opens in new window) Click to share on LinkedIn (Opens in new window).
According to the company’s latest analysis, El Paso, Texas, is the nation’s most affordable housing market of the year. In this metro, 89% of homes for sale are affordable on the national median.
No Income Check Mortgage We have emerged as the top choice for providing "No Income Check" mortgages for those borrowers who qualify for the program. The "No Income Check" program does exist and has specific requirements in order to get this type of financing.
Non QM Lenders HomeXpress Mortgage Corporation is a company that specializes in non-qualified mortgage (non-QM) loans. It was established by mortgage professionals whose goal was to offer loans to borrowers who didn’t fit under the qualified mortgage category. These professionals have many years of lending experience and quality service under their belts.
Is it still possible to get a No Income Verification Loan in Texas? Asked by Blakedfw, Dallas, TX tue mar 16, 2010. I am trying to buy a Home, but took a new job about 5 months ago, and am now being paid with 1099, rather than w-2.