Asset Based Mortgage Lenders-NO Employment Verification

We are a national mortgage provider focused on the needs of experienced, locally expert residential investors. We have originated many no doc loans across the united states. Investors value our fast, simple and dependable process, and because we approve stated loans based primarily on the property, there are no income verification and no debt-to-income calculations. If your client has a good credit score, we have reduced rates and fees available too.

  • Asset Based Loans (NO Employment Verification, NO Income Qualification, NO DTI Calculations, NO Tax Returns or 4506 Required)
  • No Sourcing or Seasoning of Funds
  • Long-Term Buy & Hold Products (30-Year Amortizations)
  • Rates as Low as 4.85%
  • Portfolio Loans Available
  • Close in Weeks, not Months
  • Up to 80% LTV on Purchases and 75% on Refi Cash-Outs
  • 640 Min. Credit Score
  • Min. Loan Amount: $45K, Max Loan Amount: $2 million, depending on the loan product

We do not pull credit with your SSN, we just run a fraud guard report

Unlike many of our competitors, we don’t require income verification, tax returns or 4506 documentation. This keeps our process fast, simple and dependable. We do require:

  • Two forms of ID
  • Tri-merged credit report with at least two credit scores
  • Appropriate insurance
  • A title policy
  • Voided check and the down payment (for purchases)
  • An executed copy of the lease (if the property is occupied)
  • An electronic asset verification of last two months bank statements

Yes, we approve stated loans to LLCs, corporations, and limited partnerships provided ownership of the entity is not held by a trust. In addition to NO EMPLOYED VERIFICATION MORTGAGE APPLICANTS requirements listed above, entities must provide corporate documentation. We do not approve stated loans to non-profits.  We do not approve stated loans on properties held in trust. We do not approve stated loans to unregistered Series LLCs (SLLCs). All property/entity interest holders must sign a guarantee.

We close in weeks, not months. Once your appraisal is ordered, we typically close within 21 business days. Loans are generally funded within 24 hours of closing for purchases and within 48 hours of closing for refinances.

Learn more about the Visio Loan Process.

Your rate is determined by your credit score, Debt Service Coverage Ratio (DSCR) and Loan-to-Value (LTV). For credit score, we use a tri-score merged report that we pull when you apply for a loan, taking the middle of the three scores. To identify the right loan for you and receive personalized rate information, call(888) 521-0353 to speak to one of our Account Executives.

See our Loan Programs to view our rates.

DSCR is calculated by dividing the monthly rent by the monthly principal, interest, property taxes, insurance and association dues if any (PITIA). DSCR

Property taxes include all city, county, school, municipal or other taxes related to the property.  Insurance includes liability, casualty, rent-loss and flood, if applicable.  We require “replacement cost” casualty insurance and rent-loss insurance. Please note that your monthly insurance expense may be higher than anticipated either because of our insurance requirements or because your property appraises for a higher value than the value at the time your previously obtained insurance.

No, our loans are structured around the rental value and “as-is” condition of the property. We approve stated loans to landlords with rent ready properties with no deferred maintenance.

Unlike most approve stated loansers that require you to own your property for 3-12 months or more before offering refinance options (ownership seasoning), we offer cash-out refi loans with only 30-day ownership seasoning. Many of our customers use our cash-out refi loans to pull cash out of one property to fund the improvements of another property, or even to buy another property.

For most of our loans, the minimum property value is $75K, with the exception of our Portfolio+ loan which requires an $80K minimum property value for each property.

In Cook and Cuyahoga Counties, the minimum property value for a one unit single family property is $125K and $75K per unit for 2-4 unit multifamily properties.

Our minimum property value per unit in Baltimore, Philadelphia and Washington, D.C. is $100K.

Our minimum property value for a condo is $75K.

We approve stated loans on rent ready residential properties, up to four units, with no deferred maintenance (other than normal wear and tear), including condos and townhomes. We do not approve stated loans on manufactured homes, mobile homes, log homes, commercial, multi-family (greater than four units) or vacant land.

No, we only make loans to investors purchasing or refinancing investment properties. Under no circumstances do we approve stated loans to owner-occupiers. We also do not approve stated loans on second homes or to investors if the intended use of the property or proceeds is primarily for personal, family or household purposes.

We use a tri-merged credit report and either use the middle score of three scores, or the lower score of two scores.  Our minimum credit score is 640.  Some of our other credit requirements include:

  • No bankruptcy in the past four years
  • No open foreclosure or bankruptcy
  • No foreclosures, short sales or deeds in lieu within the last three years
  • Minimum three open and qualifying trade lines for 24 months
    • OR the minimum of two open and qualifying trade lines and a history that pieces of evidence at least three additional qualifying trade lines that were open for at least 24 months each during the last seven years
  • No mortgage lates in the past 12 months
  • For credit scores 680 and above, no more than 1×30 lates on non-mortgage trade lines over the past 12 months, subject to certain exclusions
  • For credit scores below 680, no more than 0x30 lates on non-mortgage trade lines over the past 12 months, subject to certain exclusions

We allow NO EMPLOYED VERIFICATION MORTGAGE APPLICANTS s to use up to 30% of proceeds on a cash-out refinance to pay off property taxes and judgments. Mortgages can be paid with up to 100% of proceeds.

We do not approve stated loans to foreign nationals. However, foreign nationals may be permitted as non-primary NO EMPLOYED VERIFICATION MORTGAGE APPLICANTS guarantors if the necessary OFAC documentation is provided.

Our No Doc Portfolio+ allows you to close on 3-7 properties with just one closing and one monthly payment. It is available as a 30-year fixed, a 5-year ARM and a 7-year ARM.

See our Loan Programs.

We require the property is free of liens, including subordinate financing, when our loan closes.

Any transaction that is not a purchase transaction is a refinance transaction.  If the NO EMPLOYED VERIFICATION MORTGAGE APPLICANTS receives cash back in an amount no more than the greater of $2,000 or 2% of the loan amount, then the transaction is a rate and term refinance; otherwise, the transaction is a cash-out refinance.

We only finance rent ready property.  More specifically, the appraiser must rate the property in C4 condition or better and there cannot be any deferred maintenance visible in the appraisal photographs.  To understand more about appraiser condition ratings, please see

https://www.fanniemae.com/content/guide/selling/b4/1.3/06.html

Credit reports and appraisals expire after 90 days.

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About Us

We are US Mortgage Lenders. Major real estate brokerages regularly entrust their clients to our team due to our reputation for transparency, delivering on time, customer satisfaction and loyalty. With five-star customer reviews on Zillow.com and counting, you’re assured of having the backing of an experienced team.

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