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Are you...self-employed, working at home, a small business owner, on a commissioned income, or retired?
Dreading the hassle of searching for you personal and business tax returns in order to refinance your home? Maybe you're a Non-permanent Resident Alien, and find providing documentation difficult. Perhaps you would just not prefer to disclose your income.
Our low documentation loans liberate you from financial interrogation, and for a modest increase in rate, let you qualify for that dream home with as little as an appraisal and a credit score! You can choose to:
- State your income and your assets, without income verification (No Income Verification Loan)
- State/Verify your assets but not your income (No Ratio Loan) or
- State neither your assets nor your income (No Income, No Asset Loan)
Perfect for borrowers with terrific credit but limited assets, or borrowers who have accumulated greater assets than their current income might suggest. Also a great solution when a co-borrower's income is not easily verifiable.
Answer your unique need. Trying to purchase a home or a vacation property, but have limited funds for a down payment? No problem. With this type of loan, you'll have the advantage of a low down payment and you may have the option to receive cash back to consolidate debt.
Available on non-traditional properties, such as vacation homes and many condos. Plus, self-employed, salaried, retired borrowers, and Permanent and Non-Permanent Resident Aliens are eligible! Programs feature fixed and adjustable rates, and allow a 2nd mortgage with a high loan to values when you combine the 1st and 2nd mortgage.
Use with a Combination loan to beat higher rates. Borrowers typically pay higher rates on Jumbo loan amounts. Avoid these jumbo rates by taking out tow loans, a fixed rate 1st mortgage and an adjustable rate 2nd mortgage. For both mortgages, complete just one application and the rate you pay on each loan may be significantly lower than what you would pay on a jumbo loan! This is especially smart if you intend to pay down your principal balance shortly after closing.
For more information on how you can take advantage of this program, contact me today!
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This information was correct as of the time this document was prepared. However, loan programs are subject to cancellation or change without notice. Restrictions apply. Some products may not be available in all states. Some programs require excellent credit and the requirements for such loans may be tougher. Examples of factors that may disqualify an applicant for such programs are: late payments, unpaid balances on accounts too high (e.g., credit cards at maximum), credit history too short, too many accounts (with balances). If you apply for a low documentation program, lender will order your credit report (and that of any co-applicants) to confirm excellent credit history and timely account payment, particularly for the past 24 months.
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