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Monday, July 15, 2024

No Earnings Test Mortgage For Non-Conventional Debtors

No Earnings Test Mortgage For Non-Conventional Debtors


We now have emerged because the best choice for offering “No Earnings Test” mortgages for these debtors who qualify for this system. The “No Earnings Test” program does exist and has particular necessities so as to get this kind of financing. This system is generally designed for the self-employed borrower as an possibility for dwelling financing since self-employed people have a posh method of documenting revenue. As time has developed, the No Earnings Test” program has allowed people who’re 1099 or retired, to additionally get hold of financing beneath this program. Most lenders throughout the continental United States require that debtors present revenue documentation to qualify for a mortgage mortgage and don’t provide no revenue verification mortgages it doesn’t matter what the transaction is, whether or not it’s a buy or a refinance.

We now have the no revenue test program that doesn’t require any revenue documentation in any respect.

  • No Tax Returns Required
  • No Pay-Stubs Required
  • No W2’s Required

We require 20% down cost for a purchase order transaction and 70% Mortgage to Worth ( LTV) financing for refinancing. There are different necessities that have to be met that’s why we suggest contacting one in every of our skilled mortgage officers specializing in no revenue verification loans. We’re a good firm and have been round since 1993. Our portfolio of merchandise surpasses that of some other mortgage lender.

The no revenue test program is accessible in 46 states, so please contact us both by telephone (800) 220-LOAN or e-mail us at [email protected] to seek out out what states are eligible for the no revenue test program and what different necessities have to be met for this program.

See beneath some highlights of this system.

  • No Tax Returns / No W2’s / No Pay stubs
  • Mortgage quantities as much as $3 Million
  • 1-4 residential Items and Condos
  • 5+ Unit Multifamily and Combined-Use Properties
  • Workplace, Retail, Warehouse, Self-Storage, Automotive Service.
  • No restrict on what number of properties owned
  • Name for Phrases and Pricing

***Needless to say after chatting with a Mortgage Officer and it’s decided that you just don’t qualify for the no revenue test program due to occupancy then please ask the mortgage officer about our financial institution assertion program for self-employed debtors the place we use the deposits of their enterprise or private financial institution statements to calculate revenue and this program will enable for any sort of occupancy together with main residence.***

*This product will not be regulated by the New York State Division of Monetary Companies

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