A no income check mortgage also known as the no income verification mortgage is a mortgage program that allows individuals to get a mortgage without verifying personal income. For a purchase transaction, only 20% down payment is required with at least a 650 credit score. This no-income check mortgage program is for those who are self-employed, retired, gig workers, cash-based individuals, independent contractors, or anyone who can not very income the traditional conventional way.
Benefits of a No Income Check Mortgage
- No W2s, No 1099’s, No Paystubs and No Tax returns
- Borrower can be unemployed
- No prepayment penalty imposed
- Primary residence, second home, and investment properties
- No Limit on properties owned
- No DTI calculations
No Income Check Mortgage Requirements
- 20% Down Payment for Purchase
- Minimum 650 Credit Score
- 75% LTV for Cash-out refinances
- Low Reserve requirement
No Income Check Mortgage Highlights
- 1- 4 Residential Properties
- 5- 48 Multi-Family Properties
- $100,000 Minimum loan amount
- $10MM Maximum loan amount
- Gifts are allowed for down payment
- Cash-out can be used for reserves
- Mixed-used properties
- Commercial Properties
- Program available Nationwide
Contact our office or fill out a Fast Quote form and one of our experienced loan consultants will go over your financing options using this one-of-a-kind mortgage program. We look forward to working with you.
*This product is not regulated by the New York State Department of Financial Services
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