no income verification mortgage rates

Can you buy a house with no money down? I had a great experience with RK Mortgage. Fast and professional! I can't thank him enough for everything he did. LTV up to 70% on Cash Out Refinance. And that's because . If you want to purchase a home without a job, youll likely need sufficient assets or another source of income to support the loan amount. I would definitely recommend this mortgage company. We're super happy with the service received from RK Mortgage. All closing costs will be covered and there are no closing costs to the borrower. In this case, the lender did not verify any of the income. MeMe is so cool and she always makes us feel encouraged. For example, most lenders will require you to have a certain credit score. A breakthrough in borrower qualification. I enjoy working with Joelle Maximilien-Miller. Everyone we dealt with through her office was very professional and friendly, but we love Joelle, and after all the back and forth with her though out this process, consider her a friend! Are you getting declined from your current lender because you don`t qualify for a Mortgage? Ms. Meme made sure we were happy with our mortgage experience. She worked hard to make sure I received the lowest rate and the best deal. My situation was unique and they helped me navigate through the steps all the way to the closing table. He always had our best interest at the forefront and we are so grateful he led us through the process. I feel I made a new friend this year. I would definitely do business with RK Mortgage again! Our mortgage process went very smoothly and we were able to close as scheduled. 5 stars to Joelle and Me'me for the exceptional service and attention they provided during the process. No income loan programs provide another layer of protection that many people desire to buy or refinance a house. (Stated income loans still exist for real estate investors, however, because they aren't purchasing an owner-occupied home.) Instead, you can qualify for the loan based on your assets. If your looking for help feel free to contact us toll-free at 1-877-383-1577 or apply online today. Qualify For Your No-Doc Loan or Alternative Mortgage Loan Today. We are truly blessed to be first time homeowners! I really appreciate everything RK team did for me to finance my mortgage. Tips for Making the Best Garden Improvements for Your Home's Values. We were treated like royalty, with compassion and warmth. * Full-Document -Home Equity Loan up to $500,000. The lender will confirm that you can make the loan payments in one way or another. It will use these factors to decide if you should get the loan. On May 19, 2022, the average 30-year fixed rate was 5.25% according to Freddie Mac. . Hallandale Beach, FL 33009, No Income Verification mortgage program is a perfect fit for investors who don't qualify for traditional financing based on their tax returns. Lucrece worked with me through the entire process and was easy to work with. These loans are risky for lenders, so they require higher mortgage rates for borrowers. For investment property, getting a DSCR loan would be the option to go with. Another option that more lenders are offering today is referred to as a Lite Doc loan. The loan is qualified based on a value of the property and/or anticipated incomethe property will generate. I actually closed before the date promised. Qualified mortgages, or QMs, are regulated by the federal government through the Dodd-Frank Act, a 2010 law against predatory mortgage lending. Certain state restrictions and requirements may apply. Working with RK team was truly a pleasure. I also had the pleasure to work with Me'Me who is fast acting and together they make an excellent team. We were able to complete a mortgage application online and electronically sign all the documents the next morning. Through complications on the closing of my previous home and new turns and twists in the purchase of our new home, Joelle and Me'Me were there through it all to make sure things closed. This is not an advertisement for credit. Fast, efficient process with minimum efforts. Use your quality financial history to secure a loan. I would recommend Joelle to any of my personal friends, family, and or colleagues!! And it was the best experience by far! This was the first time I worked with Joelle. Very helpful and attentive throughout the whole process! Mortgage rates and home loan programs are subject to change without notice. Joelle of RK Mortgage Group and I were destined to do business together. Thank you again. Do not waste your time with people who quote you loan terms without assessing your credit, and debt ratios. Asset Seasoning only 30 days. 5+ Unit Multifamily & Mixed-Use. You, guys, did a great job! No balloons- 30-year amortized term with a 3 or 8 year fixed period. Home Buyer; Refinance; Loan Options; About; Resources; Low Credit Refinance; 314-781-9700. . 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. Thank you for getting it done! 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 is always a pleasure working with her always a positive attitude and very knowledgeable in the field. He made what felt like the impossible, possible. Very professional. We had an unusual condo purchase that most banks would not touch. If you want to purchase an investment property but are worried about your self-employed status disqualifying you from traditional mortgages, call Stratton Equities at 800-962-6613, email us, or apply for loan pre-qualification today! * Stated Income -Home Equity Loan up to $300,000. It was only 10 years ago, that millions of Americans were taking advantage of the no doc mortgage loan. They went above and beyond to help us out with the purchase of our first home. 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. If you have the necessary funds to repay the mortgage, then there is nothing inherently unsafe about a no-income verification mortgage. So you dont need a traditional income to qualify. Your loan payments can be interest only payments. 20% Down & 80% No Income Verification Mortgage to Value available up to $3,000,000. Instead, youll need to prove to the lender that you can cover the mortgage payments. No tax returns, no paystubs, no bank statements, no 4506 required. The lenders we work with provide financing to borrowers who cannot meet traditional underwriting criteria offer no income-verification mortgages to individuals and properties meeting the following guidelines: Up to 75% loan-to-value ratio based upon property type In this case, you could be a candidate for a no doc or no-income verification mortgage. From the minute I applied for my bank statement only mortgage to the day I closed Joelle and Sheenaqua have gone above and beyond to make this happen. While true no income verification mortgages no longer exist, lenders can qualify you based on almost any kind of cash flow. Licensed in CA, I offer a wide variety of programs for both first time buyers and experienced investors/flippers. I traveled for business and my wife stayed home. 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. Thank you! He was always there to reassure me and keep me focused. People are raving about home equity loans with no documentation required. window.ClickTable.mount(options); He was very prompt on getting back to you and making what can be a stressful process very easy. You'll see that our reduced documentation loans and stated income mortgages aren't difficult to qualify for, and our interest rates are very competitive. Thank you RK Mortgage Group Inc. We highly recommend them to anyone purchasing a home. And when you compare a 6% no doc mortgage interest rate with rates from decades ago, you still are doing pretty well financially. Lenders don't have to consider tax documents like W2s or tax returns but can accept bank statements as a sufficient form of proof of income. Some organizations, like Mortgage Depot, offer a no income check program. No income verification. I have purchased a few houses in my day, and this by far as been my best experience. They helped us along the way. First I want to express my deepest gratitude to Juan Carlos Riviera for his patience, courtesy and professionalism. RK team got everything taken care of quickly and made this a smooth transaction. Andres was excellent and perfectly understood what I was looking for. If you need a mortgage I recommend you call RK Mortgage Group. 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. Loan Trust is the premiere lender to purchase your No Income Verification Mortgage In Florida. Option for No Income Verification. He was patient and complete in answering all my questions. Andres from RK Mortgage Group and his processor, Meme, did a great job! By saving for a larger down payment, you can make yourself a more attractive borrower to lenders and increase your chances of getting approved. We would recommend them with enthusiasm! . As a first-time homebuyer, I never knew how to go about buying a house. Roman was always on hand to answer any questions we had. However, you do need to prove that you have enough cash flow, savings, or other assets to make consistent mortgage payments over the life of the loan. You need to have an IRS 1099 or be retired, but with a steady income. They are always there to give assistance. Loans available for purchase or refinance of investment or owner-occupied multi-family properties. Thank you RK Mortgage! Great Job thank you. No Income Verified Assets: Debt-to-Income NOT Calculated. He gave me all our options in a clear and concise manner. 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. This company was such a pleasure to work with. Entire process took about 30 days and I had access to my loan officers nearly 24/7. 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 . Very professional and easy to work with. If you have been told you do not qualify for a mortgage due to your income or employment history, this will be the be the option to consider. No income verification mortgage program allows you to qualify based on rental analysis to determine property cash flow. Provide documentation that shows your assets and income. A++++. Andres was fast and efficient. 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. I would highly recommend using RK Mortgage Group for all future loans. Highly recommend for anyone seeking mortgage assistance. When you apply for a mortgage, the lender wants to ensure that you have the financial resources to repay the loan. I actually closed before the date promised. I highly recommend them. How can I get approved for a mortgage without proof of income? I found RK Mortgage on the internet, I did some research and gave them a call. Naturally, after the market crash, stated income mortgage lenders nearly vanished. Highly professional service. No personal income required to qualify. The whole package from start to finish was straight forward and very quick to close . I never expected such a good rate given my self-employed situation. I've went through a mortgage process for a couple times for the past few years, and this was so far the most pleasant and smoothest experience. Loans to $2 Million. Always available. RK Mortgage Group, you're the BEST!!! Filling out this form puts you under no obligations. 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. In some cases, you can even use the projected rental income of a property to qualify for the mortgage. No documentation loans come with a few different variations. I was shopping for mortgages for a while until I found RK. So appreciate all their dedication and hard work. 5/1 ARM, 30-Year Fixed. 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. Lucrece was the best! Me'me was my loan processor and was great also. They are both knowledgeable, kind, thorough, prompt, responsive, and professional. In the past, I had to deal with different companies that takes four to six months, after a lot of papers, to tell me no, for whatever reason, after ask me to send again and again my information, that is the same again and again. Rates starting at 6.25%. There are several variables related to rates, terms, and payments that need to be evaluated for any mortgage loan, and you want to get the best advice possible. This can be beneficial for borrowers who are self-employed or who have other sources of income that are difficult to document. Blanket Loan Options Available. Find Your No Doc Rate? Home Purchase | No Income Verification Loan. Most property types considered! However, youll need to have sufficient existing assets to repay the loan. He also got me a great rate on my mortgage! I will continue to recommend this company to everybody I know in search of a mortgage that expects a pain free, professional experience. 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. As low as 640 credit allowed, with 35% down payment and 24 months reserves. No-doc mortgages were more commonly known as stated-income loans before the . 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. Get the latest housing market news and expert analysis delivered straight These loans carry high interest and are offered to investors based upon the value of the property. Up to 80% LTV. A no income verification mortgage is a type of no-doc loan that requires a lot less documents than a conventional mortgage. Largest Access to Stated Income Loans and Lenders. He kept constant contact with me on any updates throughout the process. At times, I became anxious about the process, but Juan Carlos did his best to put me at ease. Additionally, Roy was solid and reassuring throughout the whole process, which was especially appreciated since we were first time home buyers. The entire application process handled by email and online, which was very convenient for me. . I would not have my new home without her. No Tax Returns. Your dedicated Loan Specialist will work alongside your title company and stay involved from first call toclosing. I'm writing this review in my new house and Im thankful to RK Mortgage Group for this. They do not require borrowers to . It was quite an experience with mixed feelings. We actually closed in 26 days. Would highly recommend RK Mortgage, they will be with you the whole loan process, difficult or easy loan. . In this day and age, customer service, I feel has become something of the past. This means that you must bring at least a 30% down payment to close the loan. Rocket Mortgage does not offer this type of mortgage. . I just closed on my first home and the process could not have been any smoother. RK Mortgage was definitely the right choice for us. It was a great process. It's no secret that mortgages with no income verification are not as easy to secure this year. If you are thinking about getting a mortgage for a home please contact Stephanie or MeMe. Our affiliated lenders will review the credentials of applicants with all types of credit on FHA, VA, Fannie Mae, Freddie Mac and jumbo products. You might be asking "What is a No Income Documentation Loan"? In lieu of pay stubs, W-2 forms and tax returns, lenders may accept bank statements as proof of income. Just being self-employed is not enough to guarantee you a no income verification loan. I worked with Lucrece and she was excellent. No Income Verification Mortgages . Yes, it is possible to get a second mortgage without documenting your income. Stated Income Loans. Strongly recommended! Get Quotes and Disclosures in Writing: Make sure you get all offers in writing that include the uniform residential mortgage disclosures such as the "Good Faith Estimate" and "Federal Truth in Lending" statements. We're a favorite among self employed, business owner's and investor's unable or unwilling to use their tax returns to qualify for a mortgage. No-doc mortgages were more commonly known as stated-income loans before the . Most lenders also want to see a six-month reserve fund. . For example, you might be able to obtain a loan if you have ample cash reserves to cover the mortgage. I couldn't be happier with Joelle and Me'Me. 30-year fixed-rate term or 3- and 5-year adjustable-rate mortgages available You should have your financial life in tip-top condition if possible. This is not a commitment to lend. Learn more about new bank statement home loans. This option is for primary residence and 2nd homes, and can be used to purchase or refinance a property. While it was good that some of the most reckless no doc loans were banned, going too far in the other direction is also not good. My experience was stress-free. Process was simple, quick, and nothing left to chance. 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 . California no income verification mortgages, also called California no-doc mortgages or stated income mortgage loans, used to be more commonplace before the real estate housing crisis in 2008.With more restrictions in place in terms of how money is lent, particularly in the real estate world, it has become more of a challenge to get a no doc loan, however it is still . I had an issue with my other mortgage company that I had been working with and upon contacting RK Mortgage. They were so great to work with, Joelle and MeMe, thanks again. Lucrece was absolutely fantastic to work with! However, Nationwide continues to provide info on affordable reduced documentation home loans without income verification. The first step is to provide your lender with copies of your records that indicate your income. But these loan programs can be viable way to enter the housing market as long as you have an exit strategy. First and foremost, I would like to express how grateful I am to have had Juan Carlos Rivera as my mortgage broker. Refinance rate and term with a 30-year fixed mortgage and no income verification. This type of mortgage loan only requires the borrower to have employment verification performed and two months of bank statements. No Income Verification Mortgage Loans on Primary Residence, Second Homes and Investment Properties up to $3 Million., No income documentation Mortgages. Many brokers and banks offer mortgages with unbelievable features, but they rarely end up closing the loan. They stricter lending requirements with full documentation mandates slowed the US economy and kept more Americans renting. A no income verification mortgage loan is a type of mortgage that does not require borrowers to provide documentation of their income. Take a few minutes and review various programs on no verification loans for self-employed and independently contracted homeowners. He also does conventional loans. Many people who own their own small business do not receive W-2s and pay stubs, so it became hard for them to qualify for a loan. The loan is qualified based on a value of the property and/or anticipated income the property will generate. We highly recommend using RK mortgage again to everybody I know in search a! Properties up to $ 3 Million., no paystubs, no income verification is for primary residence second... Financial Resources to repay the loan based on rental analysis to determine property cash flow mortgage that does not this! 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