No Income Investor loans will require 30% down payment for a purchase transaction and 65% Loan to Value ( LTV) financing for no income investor refinancing. There are other requirements that need to be met that’s why we recommend contacting one of our experienced no income loan officers that specialize in no income verification loans. We are a reputable company and our portfolio of products surpasses that of any other lender.
Investor Stated Income Cash Flow Mortgage Requirements
Rather than being based on income and employment documentation, with this unique program qualification is based on what the cash flow determined by the property appraiser. If the comparable rents cover the new mortgage your loan will fund!
- The (DSCR) or (Debt Service Coverage Ratio = DCR) of the subject property you are purchasing is used to calculate the funds that can be used to qualify as follows:
- DSCR must be greater than or equal to 1. (After your downpayment the gross comparable property rent must be greater than the new mortgage payment including principal, interest, taxes, insurance, and HOA.
- DSCR is defined as gross rents divided by qualifying PITIA and HOA. 100% of the rents can be used.
- For a mortgage purchase, the amount used for rent will be the lesser of market rental price (per an appraisal) or current rental agreement in place.
- For the investor cash flow mortgage refinances the amount will be the lesser of market rental price (per an appraisal) or current rental price. Leases for the previous 12 months must be provided.
No Income Investor Loan Key Loan Features
- Rates as low as 7%
- Funding from $75k to $5 million
- We do not require pay stubs or tax statements
- No balloons- 30-year amortized term with a 3 or 8 year fixed period
- LTVs up to 75%
- 650 mid FICO to qualify
- Broker rebate up to 2 points available
- Correspondent relationships offered
- Investor 1-4, Multi-family, Mixed-use Office, Retail, Warehouse, Automotive Service and more
See below some highlights of the No Income Verification Investor Loans.
- No Tax Returns / W2’s / Pay stubs
- Loans amounts up to $3 Million
- 1-4 residential Units and Condos (must be investment property)
- 5+ Unit Multifamily and Mixed-Use Properties
- Office, Retail, Warehouse, Self-Storage, Automotive Service.
- No limit on how many properties owned
- Call for Terms and Pricing
No Income Investor 1-4 Loans
These investment properties include single family homes, condos, town homes and 2-4 unit buildings. As long as the property is non-owner occupied, and is used for investment purposes, We can provide a no income investor loan for you. Maximum loan amount is $750k on SFRs and $2 million on 2-4 unit buildings with up to 70% LTV. Loan sizes over $2 million, are considered on a case by case basis.
No Income Commercial Investor
Our Commercial Investor program is designed for office buildings, general retail, warehouse, self- storage and automotive services. Maximum loan amount is $5 million with an LTV of 70%.
Benefits of No Income Verification Loans
A No Income verification loan does not have the same underwriting guidelines and delays as a verified income loan. A No Income verification loan can usually be approved and funded within a very short period of time. A No Income verification loan offers a fixed interest rate for the first 3, 5, 7, 9 years. After that the interest rate varies, and there is no penalty for refinancing into another loan.
For borrowers who cannot prove consistent income, or do not show a lot of income on their tax returns, No Income verification income mortgage loans provide a solution to qualify for a loan without the red tape and the frustration of a long underwriting process and the hassles of income verification. For business owners or self-employed borrowers working with cash, No Income verification income loans self-employed guidelines make it much easier to qualify and more on a good investment opportunity.
For No Income verification income loans, the borrowing guidelines make it possible for the seller to carry back part of the loan and allow investor and other borrowers to purchase an investment property. A family member or friend can also contribute part of the down payment for No Income verification home loans. A self-employed borrower can purchase a property without having to provide tax returns, bank statements, and pay stubs. Now is a great time to buy an investment property or home! Real estate prices are still rising, interest rates are still low, inventory is still looking good, and with a No Income verification income loan program, all it takes is a good down payment to qualify. Call today for a quick loan approval!
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