If you don’t have the standard documentation needed to obtain a traditional mortgage, you still deserve an opportunity to achieve real estate success. MortgageDepot specializes in finding outside-the-box ways to tell your financial story. Our No Ratio Owner-Occupied loan is one of our creative financing solutions, intended to provide nontraditional borrowers a path to real estate ownership.

Why Should I Consider a No Ratio Owner-Occupied Loan?

A No Ratio Owner-Occupied loan from MortgageDepot helps low-income buyers, immigrants, small business owners and other borrowers with special situations finance their real estate purchases. Here are a few of the program’s features and benefits:

  • Eligible property purchases include residences with up to four units, condominiums, co-ops and PUD homes.
  • Second-home purchases also qualify for financing.
  • Borrowers can purchase or refinance their property with up to a 75% LTV.
  • A cash-out refinance requires up to a 65% LTV.
  • Borrowers can fund their down payment, closing costs and cash reserves with gift money.
  • Funds from a cash-out refinance can be used for a reserve account.

How Can I Qualify for a No Ratio Owner-Occupied Loan?

Even if you have had difficulty obtaining a mortgage in the past, it’s easy to qualify for a No Ratio Owner-Occupied loan with MortgageDepot. Here is a list of what you’ll need to meet the basic eligibility requirements:

  • One recent, 30-day bank statement.
  • A minimum credit score of 680.
  • You won’t need to verify employment, we don’t calculate your debt-to-income ratio and you don’t need tax documents to qualify!

If you are a nontraditional borrower who wants to enter the real estate market, get in touch with MortgageDepot today! We’ll help you reach your goals with a program customized to your unique circumstances.

Contact one of our loan consultants to learn more.


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