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A no-doc mortgage — also referred to as a no-income verification mortgage — does not require a lender to verify how much you earn with pay stubs and W-2s. These types of loans are also ...
No-document mortgage: A no-doc mortgage doesn’t require income verification. It’s an uncommon product, but it can be an option for borrowers who have irregular income.
For asset depletion mortgages, people with limited income can qualify without proof of employment by having liquid assets — like savings accounts or stocks — they'll use to pay the loan. Wait ...
No doc loans do not require any supporting evidence of the borrowers income, just a declaration confirming that the borrower can afford the proposed repayments. This is known as an asset lend as the assessment of the loan is primarily focused on the saleability of the security property and the proposed exit strategy.
No income, no asset (NINA) [1] is a term used in the United States mortgage industry to describe one of many documentation types which lenders may allow when underwriting a mortgage. A loan issued under such circumstances may be referred to as a NINA loan or NINJA loan .
There are numerous factors that might cause a mortgage not to qualify under the GSEs' traditional lending guidelines even though the borrower's creditworthiness is generally strong. A few of the more important factors are: Reduced borrower income and asset documentation (for example, "stated income", "stated assets", "no income verification")
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