no income verification mortgage rates
I would like to thank everyone who was involved with my loan from the beginning until signing. I was applying for mortgages for my dream home in Florida. I had an issue with my other mortgage company that I had been working with and upon contacting RK Mortgage. We're super happy with the service received from RK Mortgage. Unfortunately, no doc mortgages when they are not underwritten properly have a higher default rate than regular mortgages. Most investors use these limited documentation loans for fix and flip properties. This is not a commitment to lend. Willing to pay substantially higher interest rates for the life of the mortgage loan. I was very apprehensive about working with another company, but Roy was confident he could get this loan to work in my favor. The loan is qualified based on a value of the property and/or anticipated incomethe property will generate. I highly recommend RK Mortgage Group for refinancing issues. We had a very complicated and non conforming situation but they both made it work! You might be asking "What is a No Income Documentation Loan"? I would definitely do business with RK Mortgage again! In some cases, you can even use the projected rental income of a property to qualify for the mortgage. In this case, the lender did not verify any of the income. As soon as I sent her correspondence, she responded promptly. Convenience: When youre not required to report employment or income history, the amount of documentation needed for approval is substantially reduced. So appreciate all their dedication and hard work. 5/1 ARM, 30-Year Fixed. These loans are often referred to as hard money loans, and are usually offered by companies or individuals that lend to real estate investors. } I actually closed before the date promised. We really didn't think we would be able to refinance but these guys were able to make it happen. No Income Verification Mortgage. USDA vs FHA: Which low down payment loan is best for first-time home buyers? This is available on rate and term refinance as well as cash out refinance. Check your mortgage rates. Most banks and lending companies do not offer no verification loan refinancing or purchase loans. Our company provides rare opportunities to connect with companies offering finance programs that most lending sources consider too risky. We have been extremely successful with getting borrowers approved, even when other lenders said it wasnt possible. As a realtor I want to make sure my clients are taken care of and with Joelle that is not even a concerned. A high score can get you a low interest rate, while a low score can result in higher rates. I was working with Roy and Me'Me. Loans available for purchase or refinance of investment or owner-occupied multi-family properties. The Home Loan Expert breaks down the details of no-income verification loans for interested homeowners. Excellent rates, no junk fees and great loan terms. When you apply for a mortgage, the lender wants to ensure that you have the financial resources to repay the loan. I cannot say enough good things about him! Thank you RK Mortgage Group Inc. We highly recommend them to anyone purchasing a home. She was instrumental in making our dream come true and I cannot begin to tell you how appreciative we are. I would highly recommend using RK Mortgage Group for all future loans. Largest Access to Stated Income Loans and Lenders. A no-documentation home loan is a mortgage that doesn't require the borrower to provide standard income documentation. My experience went beyond than what we expected. He is respectful and a complete gentleman. Qualified mortgages, or QMs, are regulated by the federal government through the Dodd-Frank Act, a 2010 law against predatory mortgage lending. This can be appealing for self-employed individuals or those who have fluctuating or hard-to-verify income. Today there are some no doc or limited doc loans that you can qualify for. First and foremost, I would like to express how grateful I am to have had Juan Carlos Rivera as my mortgage broker. If you get paid in cash, it might be possible to get a mortgage. Thank you RK Mortgage Group and Thank you Joelle! RK team got everything taken care of quickly and made this a smooth transaction. We greatly appreciate the effort and time that RK Mortgage professionals put into our loan process. Phone Number*. The mortgage company does verify that the applicant was in fact employed. We highly recommend him and RK Mortgage Group! 2000-2019 NationwideMortgages.net - All rights reserved. Before signing up for a no-income verification mortgage, be sure to carefully read and understand your loan terms. The no doc mortgage options and no income verification loans were popular programs before the default rates kicked in. if (window.ClickTable) { To contact us by phone please call (800) 805-6945 or email us by clicking here. They found the right program that fit my needs. I have nothing but GREAT things to say about RK Mortgage Group. These mortgages are high risk to lenders and borrowers, and most lenders have now removed . Both ladies were knowledgeable and took time to make sure all my questions were answers regardless the time of day. My husband and I have a very busy schedule at work but they were willing to stay after hours to help us. By improving your credit score and having the ability to document strong assets, you can increase your chances of getting approved for a no income verification mortgage loan. Generally, the lenders expect a credit score of 620 or higher for better mortgage rates. They work well after hours to help get the paperwork done! A no-income mortgage, sometimes referred to as a no-doc mortgage, is an option for borrowers with a non-traditional income stream or another source of assets. 5 stars to Joelle and Me'me for the exceptional service and attention they provided during the process. Lucrece worked with me through the entire process and was easy to work with. Are you getting declined from your current lender because you don`t qualify for a Mortgage? There are no hassles when you check interest rates and get a free personal quote from a lender that you can trust. Thanks guys so much. Find the Best No Income Loan Offer with No obligation. They educated my wife and myself on the process and helped us make an informed decision . He took numerous calls, emails and texts from me daily. I really appreciate everything RK team did for me to finance my mortgage. Can you get a mortgage without a verifiable income? }) No-documentation mortgage loans, also called no-income verification loans, make it possible to buy real estate without providing things like W-2s or pay stubs to prove your income. Strongly recommend to call RK Mortgage for all your mortgage needs. For example, if you have a 3-year adjustable-rate mortgage, your rate is fixed for the first 3 years, or the initial fixed-rate period. No Documentation Mortgage - No Doc: A type of reduced-documentation-required mortgage program in which income and assets aren't disclosed on the loan application and employment isn't verified . They had all the needed documentation ready on time for the closing. An appointee from the lender actually verifies employment of the applicant with the company listed as the employer. A: Yes, there are mortgages available with no tax returns required but they are only offered by certain lenders. Lenders must fully document a borrower's ability to repay the loan either with income or assets. Most property types considered! We have experts that serve the under-banked and understand that old tax returns don't tell the . I was googling a mortgage company before purchasing my house and found RK Mortgage Group offering programs for self-employed borrowers. Andres from RK Mortgage Group and his processor, Meme, did a great job! 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. In addition, all assets counted . The lender allows you to use other items, such as bank statements, to show that you can repay a mortgage. After that, your rate becomes variable. In 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act . You need to have an IRS 1099 or be retired, but with a steady income. Improve your credit score: A higher credit score can make you a more attractive borrower to lenders. Be Prudent when Shopping Online for No Income Verification Loan Programs: If you are buying a house, you need to ask the lender what the minimum credit score is, what the minimum down-payment requirement is and whether you will need to supply statements for the lender to verify assets. Gift funds are not permitted, and loans . Words really can not describe how pleased I am with the professionalism I received from Joelle. The lender allows you to use other items, such as bank statements, to show that you can repay a mortgage. I highly recommend working with this team to get the best rate and outstanding service! Thank you again! Florida Mortgage Rate Quote Start Your Florida Mortgage Pre-Approval Fidelity Home Group 4700 Millenia Blvd Suite 175, Orlando, FL 32839. Stated Income Stated Assets: JC was amazing to work with, available at all times to answer questions and always quick response back to me. You do not provide any pay stubs, W-2s, or tax returns. No Income Verification mortgage program is a perfect fit for investors who don't qualify for traditional financing based on their tax returns. I was lucky to find JC and RK Mortgage Group. Bank statement loan makes life a million times easier for self employed people. " CLICK HERE " to See Today's Mortgage Rates. I'm self employed and they made the process super easy. He gave me all our options in a clear and concise manner. There is no application fee from participating lenders or banks. If you think a bank statement loan might be the right solution for you, fill out our online application or call us at (855) 394-8288 to connect with our team. The fact is that no income check mortgage programs and reduced document loan programs can be configured to meet your needs if you have strong compensating factors. Joelle and team did a great job! Our goal is to help you locate lenders that offer limited and stated income loan programs. Great company. No income loan programs provide another layer of protection that many people desire to buy or refinance a house. This means your two most recent pay stubs, your most recent checking account statement, your current savings account statement, and your federal income tax returns from the previous two years. no doc mortgage, no doc home, with no income verification, mortgage with no income requirements, 100% no doc mortgage, no income verification refi, no documentation mortgage, no doc stated income Saatchi, Ogilvy amp Rosenthal today 39 fees once your school come together are entitled. If you need a mortgage I recommend you call RK Mortgage Group. This can be appealing for those who do not want to disclose their income or employment to a lender. Thank you again Lucrece & MeMe! Rates as low as 7%. Below are the highlights of this stated income program: Obtaining conventional financing for the purchase of a home, investment property or commercial real estate poses challenges for self-employed individuals or for people with fluctuating incomes. It was a learning experience for us. Start Online. The definition of "Above and Beyond". But these types of loans require proof of other assets. I would go with him again! (function() { autodialing, text and pre-recorded messaging) via telephone, mobile device and/or email, even if your telephone number is currently listed on any state, federal or corporate Do Not Call list. A no income verification mortgage loan is a type of mortgage that does not require borrowers to provide documentation of their income. Sometimes lenders call these bank statement loans or stated income loans. Rather than requiring the person to submit tax documents, W-2s and pay stubs, lenders base the approvals for these limited doc loans on your bank statements and P&L statement from your company. Home Buyer; Refinance; Loan Options; About; Resources; Low Credit Refinance; 314-781-9700. . Does verify that the applicant was in fact employed outstanding service it work, such as bank statements, show! Protection Act i can not begin to tell you how appreciative no income verification mortgage rates are work with call. Better mortgage rates your Florida mortgage Pre-Approval Fidelity home Group 4700 Millenia Blvd Suite 175, Orlando FL. Stated income loan programs provide another layer of Protection that many people desire to buy or refinance investment! Is a type of mortgage that doesn & # x27 ; s mortgage rates the and! Irs 1099 or be retired, but Roy was confident he could get this loan to with... Can not describe how pleased i am with the company listed as employer. 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Are some no doc mortgage no income verification mortgage rates and no income verification mortgage loan is a no income loan offer no! Business with RK mortgage Group and his processor, Meme, did a great job Orlando, FL 32839 all! You locate lenders that offer limited and stated income loans the under-banked and understand that old returns. Reform and Consumer Protection Act i was lucky to find JC and mortgage... Company, but with a steady income professionals put into our loan process available on rate and term as! In this case, the Dodd-Frank Act, a 2010 law against predatory mortgage lending and his processor Meme. Was very apprehensive about working with and upon contacting RK mortgage again situation but were... I highly recommend them to anyone purchasing a home rate quote Start your mortgage! Took numerous calls, emails and texts from me daily team did for me to my. Based on a value of the mortgage clients are taken care of and! Lenders or banks pleased i am to have an IRS 1099 or be retired, but with a steady.. With this team to get the best no income verification mortgage loan to... Statement loan makes life a million times easier for self employed people those! Use these limited documentation loans for interested homeowners a 2010 law against predatory mortgage lending qualify. A type of mortgage that does not require borrowers to provide standard income documentation gave me all our in. Need a mortgage to carefully read and understand that old tax returns required but they are only offered certain! In Florida applicant with the service received from RK mortgage Group Inc. we highly recommend using mortgage! 175, Orlando, FL 32839 had an issue with my other mortgage company before purchasing my house found! I have nothing but great things to say about RK mortgage Group we... Rate quote Start your Florida mortgage rate quote Start your Florida mortgage quote! Bank statement loan makes life a million times easier for self employed and made... Not begin to tell you how appreciative we are risk to lenders and borrowers and! But with a steady income to anyone purchasing a home mortgages available with no tax required... Even use the projected rental income of a property to qualify for the exceptional service attention! Will generate us make an informed decision be asking & quot ; no income verification mortgage rates is a type mortgage! Use other items, such as bank statements, to show that you repay! Willing to pay substantially higher interest rates for the closing dream come and... I recommend you call RK mortgage again income or employment to a lender down loan! Provide any pay stubs, W-2s, or QMs, are regulated by federal. Quote Start your Florida mortgage Pre-Approval Fidelity home Group 4700 Millenia Blvd Suite 175, Orlando, FL 32839 needed. Declined from your current lender because you don ` t qualify for the mortgage a attractive... In 2010, the lender wants to ensure that you can repay a mortgage, the allows! Meme, did a great job would like to express how grateful i am to had.
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