No Income Loan
Homeownership with Flexible Financing
Financing options available for borrowers without traditional income documentation
Flexible eligibility criteria tailored to individual circumstances
Expert guidance from our experienced mortgage team
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Make your dream of owning a home a reality.
Low down payment options
Flexible credit requirements
Competitive interest rates we shop for you
888-549-1005
Call for a Free Mortgage Saving Report
No Credit Checks Required
No Income Loan
Or Get a Free Rate Quote
1800-725-9946
Homeownership with Flexible Financing
Financing options available for borrowers without traditional income documentation
Flexible eligibility criteria tailored to individual circumstances
Expert guidance from our experienced mortgage team
888-549-1005
Call for a Free Mortgage Saving Report
No Credit Checks Required
Get Approved for a No Income / Ratio Loan — No Traditional Income Proof Needed, Fast and Flexible!
No Income Verification Required: — Qualify without showing tax returns, W-2s, or pay stubs.
Ideal for Self-Employed & Investors: — Perfect solution for borrowers with non-traditional or fluctuating income.
Asset & Property-Based Qualification: — Approval based on your assets or the property’s value, not your income.
Competitive Interest Rates: — We secure the best rates to help you save more over time.
Quick Pre-Approval Process: — Move fast on your purchase or refinance with a streamlined approval process.
Flexible Loan Options with Low Closing Costs: — Tailored loan programs designed to meet your unique needs without hidden fees.
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Start with our Mortgage Approval Tool!
Start with our Mortgage Approval Tool!
Home Purchase
Buying a home is a major investment,
requiring planning, budgeting, and research to secure the perfect property for long-term stability.
Home Refinance
Home refinancing replaces an existing mortgage with a new loan, often to lower interest rates, reduce payments, or access home equity.
Home Equity
Home equity is the property's market value minus any outstanding mortgage balance, allowing homeowners to borrow against their ownership stake.
Reverse
A reverse mortgage allows homeowners, typically seniors, to convert home equity into cash without monthly payments, repaid when they move or sell.
Start with our Mortgage Approval Tool!
Our Service Commitment
No Hidden Fees: We believe in clear and upfront communication about all costs associated with your mortgage.
Tailored Solutions: Our advisors work closely with you to find mortgage solutions that are customized to your financial situation.
Tailored Solutions: Our advisors work closely with you to find mortgage solutions that are customized to your financial situation.
Get Expert Advise, every time from a licensed loan officer with a suite of products to choose from.
Our Team strives to deliver excellence, reach us day or night about any of your mortgage questions, we’re here for you when you need.
Working with us or just thinking of it, we will always be honest and transparent. No sales targets means way better service!
Our Service Commitment
Get Expert Advise, every time from a licensed loan officer with a suite of products to choose from.
Our Team strives to deliver excellence, reach us day or night about any of your mortgage questions, we’re here for you when you need.
Working with us or just thinking of it, we will always be honest and transparent. No sales targets means way better service!
No Hidden Fees:We believe in clear and upfront communication about all costs associated with your mortgage.
Tailored Solutions: Our advisors work closely with you to find mortgage solutions that are customized to your financial situation.
Available When & Where You Want!
Across multiple states our Licensed Loan officers will help you from the application to the funding and beyond.
We work on your schedule, with streamlined technology and support staffing, your mortgage request will always be a priority!
Available When & Where You Want!
Across multiple states our Licensed Loan officers will help you from the application to the funding and beyond.
We work on your schedule, with streamlined technology and support staffing, your mortgage request will always be a priority!
Book an Appointment
Book an Appointment
Largest Lender Network in Florida, Georgia & Texas
Available When & Where You Want!
Across multiple states our Licensed Loan officers will help you from the application to the funding and beyond.
We work on your schedule, with streamlined technology and support staffing, your mortgage request will always be a priority!
Meet Our Team
Angle Ogbele
Natasha Staplowski
Darnell Smith
Arlan Zuberi
Meet Our Team
Angle Ogbele
Natasha Staplowski
Darnell Smith
Arlan Zuberi
What is No Income Loan?
A No Income Loan, often referred to as a No Income Verification Loan or a No-Doc Loan, is a type of loan that does not require traditional proof of income, such as tax returns or pay stubs. Instead, the lender bases the decision on other factors, such as credit history, assets, and overall financial situation.
How Does a No Income Loan Works?
Asset Evaluation: The borrower presents their assets to the lender for assessment. These can include investment accounts, savings, retirement accounts, real estate, or other valuable assets. The lender evaluates these assets to determine their current market value.
Loan-to-Value (LTV) Calculation: The lender calculates the loan-to-value ratio, which is the amount of the loan compared to the value of the assets. This ratio varies by lender and asset type but often ranges from 40-60%.
Documentation and Verification: The borrower provides documentation to verify the existence and value of the assets. This could involve account statements, property appraisals, or other financial records.
Approval Process: The lender reviews the borrower's creditworthiness, including credit history and scores, in addition to the asset utilization component. If the lender determines that the borrower can responsibly manage the loan, they may approve the loan.
Loan Terms: If approved, the borrower and lender agree on the terms of the loan, including the interest rate, repayment schedule, and any other conditions.
Funding: Once the terms are agreed upon and the necessary paperwork is completed, the loan is funded, and the borrower can use the loan proceeds for the intended purpose.
Repayment: The borrower makes regular payments according to the loan terms. The assets may remain under the borrower's control, but the lender may have a lien on them or require that they remain within certain accounts or conditions to maintain the loan.
It's important to note that no income loans carry a higher level of scrutiny due to past abuses and the role they played in the financial crisis of 2007-2008. Regulations have since tightened, and borrowers should expect thorough financial assessments even when income isn't directly verified. Always ensure that you have the means to repay a no income loan to avoid financial distress.
What is No Income Loan?
A No Income Loan, often referred to as a No Income Verification Loan or a No-Doc Loan, is a type of loan that does not require traditional proof of income, such as tax returns or pay stubs. Instead, the lender bases the decision on other factors, such as credit history, assets, and overall financial situation.
How Does a No Income Loan Works?
Asset Evaluation
The borrower presents their assets to the lender for assessment. These can include investment accounts, savings, retirement accounts, real estate, or other valuable assets. The lender evaluates these assets to determine their current market value.
Loan-to-Value (LTV) Calculation
The lender calculates the loan-to-value ratio, which is the amount of the loan compared to the value of the assets. This ratio varies by lender and asset type but often ranges from 40-60%.
Documentation and Verification
The borrower provides documentation to verify the existence and value of the assets. This could involve account statements, property appraisals, or other financial records.
Approval Process
The lender reviews the borrower's creditworthiness, including credit history and scores, in addition to the asset utilization component. If the lender determines that the borrower can responsibly manage the loan, they may approve the loan.
Loan Terms
If approved, the borrower and lender agree on the terms of the loan, including the interest rate, repayment schedule, and any other conditions.
Funding
Once the terms are agreed upon and the necessary paperwork is completed, the loan is funded, and the borrower can use the loan proceeds for the intended purpose.
Repayment
The borrower makes regular payments according to the loan terms. The assets may remain under the borrower's control, but the lender may have a lien on them or require that they remain within certain accounts or conditions to maintain the loan.
It's important to note that no income loans carry a higher level of scrutiny due to past abuses and the role they played in the financial crisis of 2007-2008. Regulations have since tightened, and borrowers should expect thorough financial assessments even when income isn't directly verified. Always ensure that you have the means to repay a no income loan to avoid financial distress.
Benefits of No Income Loan
Here are some of the features that characterize a no income loan:
Alternative Documentation: Instead of traditional income verification documents like pay stubs or tax returns, lenders might accept alternative documentation to prove financial stability. This could include bank statements, asset statements, or proof of potential future income.
Asset-Based Lending: Many no income loans are secured by assets. The borrower pledges something of value, such as real estate or investment accounts, which the lender can claim if the loan isn't repaid.
Higher Interest Rates: Due to the higher risk associated with lending to someone without traditional income verification, no income loans often come with higher interest rates compared to standard personal or home loans.
Larger Down Payment: If the no income loan is for a mortgage, the borrower might need to provide a larger down payment to offset the lender's risk.
Limited Loan Amount: The loan amount may be limited based on the value of the pledged assets or the borrower's alternative financial credentials.
Shorter Loan Terms: No income loans might have shorter repayment terms to reduce the lender's risk.
Creditworthiness: A borrower’s credit score and credit history might be scrutinized more closely to ensure they have a history of repaying debts on time.
It's important to note that no income loans can be harder to find than traditional loans and might not be available from all lenders. Borrowers considering this type of loan should carefully assess the terms and risks, and possibly consult with a financial advisor.
Benefits of No Income Loan
Alternative Documentation
Instead of traditional income verification documents like pay stubs or tax returns, lenders might accept alternative documentation to prove financial stability. This could include bank statements, asset statements, or proof of potential future income.
Asset-Based Lending
Many no income loans are secured by assets. The borrower pledges something of value, such as real estate or investment accounts, which the lender can claim if the loan isn't repaid.
Higher Interest Rates
Due to the higher risk associated with lending to someone without traditional income verification, no income loans often come with higher interest rates compared to standard personal or home loans.
Larger Down Payment
If the no income loan is for a mortgage, the borrower might need to provide a larger down payment to offset the lender's risk.
Limited Loan Amount
The loan amount may be limited based on the value of the pledged assets or the borrower's alternative financial credentials.
Shorter Loan Terms
No income loans might have shorter repayment terms to reduce the lender's risk.
Creditworthiness
A borrower’s credit score and credit history might be scrutinized more closely to ensure they have a history of repaying debts on time.
Features of No Income Loan
Access to Capital: No income loans provide a way for individuals to access funds when they might not qualify for traditional loans due to a lack of verifiable income.
Asset Utilization: Individuals can leverage their existing assets, such as real estate or investment portfolios, to secure a loan without having to liquidate those assets.
Flexibility: These loans can offer more flexible underwriting criteria that consider alternative data points, such as bank account activity or payment history on other debts.
Maintaining Ownership: By taking out a loan against assets, borrowers can retain ownership and potential appreciation of their assets instead of selling them.
Debt Consolidation: No income loans can be used to consolidate debt, potentially lowering the overall interest rate and monthly payments.
Financial Privacy: For individuals who value privacy, no income loans may require less financial disclosure than traditional loans.
Quick Process: Some no income loans, especially those from fintech lenders, can have a faster application and approval process compared to traditional bank loans.
Opportunity for Self-Employed: They can be particularly beneficial for self-employed individuals, freelancers, or entrepreneurs whose income may be irregular or difficult to document.
It's important to note that no income loans may come with higher interest rates or require substantial collateral due to the increased risk perceived by the lender. As with any financial product, it's crucial to thoroughly understand the terms and conditions, and consider the risks and benefits before proceeding with a no income loan application.
Features of No Income Loan
Access to Capital
No income loans provide a way for individuals to access funds when they might not qualify for traditional loans due to a lack of verifiable income.
Asset Utilization
Individuals can leverage their existing assets, such as real estate or investment portfolios, to secure a loan without having to liquidate those assets.
Flexibility
These loans can offer more flexible underwriting criteria that consider alternative data points, such as bank account activity or payment history on other debts.
Maintaining Ownership
By taking out a loan against assets, borrowers can retain ownership and potential appreciation of their assets instead of selling them.
Debt Consolidation
No income loans can be used to consolidate debt, potentially lowering the overall interest rate and monthly payments.
Financial Privacy:
For individuals who value privacy, no income loans may require less financial disclosure than traditional loans.
Quick Process
Some no income loans, especially those from fintech lenders, can have a faster application and approval process compared to traditional bank loans.
Opportunity for Self-Employed
They can be particularly beneficial for self-employed individuals, freelancers, or entrepreneurs whose income may be irregular or difficult to document.
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In accordance with federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, or age (provided you have the capacity to enter into a binding contract), nor do we discriminate because any part of your income is derived from public assistance programs, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The Federal Trade Commission, Equal Credit Opportunity Division, Washington, DC 20580, is the federal agency responsible for administering these laws.
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