I just want to say how thankful I am to have found Joelle Maximilien-Miller to do my loan. Joelle of RK Mortgage Group and I were destined to do business together. I'd recommend them to anyone. 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 . Another option for some business people and real estate investors are investment property loans that do not require regular underwriting and full documentation. Joelle and her team were absolutely amazing! Loan Amounts up to $3 Million. No income-verification loan guidelines The lenders we work with provide financing to borrowers who cannot meet traditional underwriting criteria offer no income-verification mortgages to individuals and properties meeting the following guidelines: Up to 75% loan-to-value ratio based upon property type 680 minimum credit score 30-year fixed-rate . You won't be asked to submit documents and forms you don't have. By refinancing an existing loan, the total finance charges incurred may be higher over the life of the loan. When you are buying a house, it is imperative to get a pre-qualification or pre-approval letter from banks and lenders that have a strong reputation and who you feel comfortable with. My experience went beyond than what we expected. Great Job thank you. Banks and government agencies overreacted and required tough underwriting requirements for virtually all mortgage loans. You might be asking "What is a No Income Documentation Loan"? Loans available for purchase or refinance of investment or owner-occupied multi-family properties. Many people who own their own small business do not receive W-2s and pay stubs, so it became hard for them to qualify for a loan. . Our no income verification mortgage in Florida is a great tool for borrowers who demonstrate ability to repay through good credit history. If you want to purchase a home without a job, youll likely need sufficient assets or another source of income to support the loan amount. Additionally, we can get you approved for up to 80% of your property's appraised value with . Stated Income Loans. People do not trust institutions to safely guard their data and many for good reason are terrified of identity theft. The last thing you want to do is to get involved with a predatory lender, so make sure you are shopping loans from companies that have a solid record in delivering the type of home loan products you are searching for. On fixed-rate loans, the fixed-rate period is the life of the loan (30-year fixed, for example). We love her! Debt-to-Income NOT Calculated. They educated my wife and myself on the process and helped us make an informed decision . Purchase, Rate/Term and Cash-Out Refinance Loans $150k to $3 Million (Commercial is Higher) Fixed and ARM's 650 Min-FICO 80% Max LTV (depending on scenario) . I never felt left out throughout the process until closing. Instead, you may be able to . In short, there is no income verification, no income documentation, no tax returns, and on certain refinance transactions you will not have to provide any bank statements. We have been extremely successful with getting borrowers approved, even when other lenders said it wasnt possible. They do not require borrowers to . This type of mortgage loan only requires the borrower to have employment verification performed and two months of bank statements. Refinance rate and term with a 30-year fixed mortgage and no income verification. RK Mortgage Group, you're the BEST!!! Loans require a 25% down payment and other underwriting considerations may apply depending upon the type of property. He kept constant contact with me on any updates throughout the process. Income Documentation is Not Required. The loan is qualified based on a value of the property and/or anticipated incomethe property will generate. Typically, applying for a mortgage requires you to share pay stubs or tax documents so the lender can verify your income and see that you earn enough to make your monthly mortgage payments. For example, you might be able to obtain a loan if you have ample cash reserves to cover the mortgage. 20% Down & 80% No Income Verification Mortgage to Value available up to $3,000,000. From the very first conversation that I had with both of these ladies, I knew that I was in the right hands and on my way of owning my first home. Thank you again Lucrece & MeMe! To contact us by phone please call (800) 805-6945 or email us by clicking here. However, don't let the name fool you: Some paperwork is required to get a no-doc loan. If you dont have standard proof of income, like pay stubs and W-2s, then a lender might approve your mortgage based on other financial factors. The lenders we work with provide financing to borrowers who cannot meet traditional underwriting criteria offer no income-verification mortgages to individuals and properties meeting the following guidelines: Up to 75% loan-to-value ratio based upon property type Rates as low as 7%. 30 Year Fixed Rates Available. Roy and Me'Me closed my loan even after some condo issues we had that other Mortgage company could not close. I, wholeheartedly, recommend Juan Carlos for all your lending needs. Consent is not required to purchase goods or services from lenders that contact me. Roman was always on hand to answer any questions we had. See below some highlights of the program. I was really impressed with technology. Our mortgage process went very smoothly and we were able to close as scheduled. It is nice to have someone that cares and also has your best interest at heart. Would recommend RK Mortgage Group, and particularly Joelle, to anyone who is about to begin a wonderful and exciting journey of buying a home. My situation was unique and they helped me navigate through the steps all the way to the closing table. 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. Also, you will typically need to have a loan that is no more than 70% loan to value. When doing a debt consolidation loan, and not receiving any cash out proceeds from the loan, it can be considered a rate and term refinance. Constant and accurate information and updates. Highly recommend this company!! In the past, I had to deal with different companies that takes four to six months, after a lot of papers, to tell me no, for whatever reason, after ask me to send again and again my information, that is the same again and again. The service was top-notch, I believe that everyone working at RK Mortgage are team players with one goal in mind their client's success. Getting a mortgage can be stressful because of the complexities involved in the process. MeMe is so cool and she always makes us feel encouraged. Whether you need an equity loan, purchase mortgage or refinance, Nationwide will help you find companies that continue to offer alternative lending with no income verification programs for qualified applicants. They were so friendly and kind to me, and I couldn't have closed without their help! Joelle at RK Mortgage Group was fantastic to work with and made a very difficult process stress free. As self-employed and without income verification there were not to many chances for us to be approved for a mortgage. We found the home we fell in love with and the deal was completed within 5 weeks. qualified applicants borrowing against their primary residence. Fortunately, we were able to find RK Mortgage Group which first gave us a hope and then delivered as promised. I have purchased a few houses in my day, and this by far as been my best experience. Everyone I talked to was friendly and helpful. }) Thank you RK Mortgage Group Inc. We highly recommend them to anyone purchasing a home. To qualify for these types of loans, the lender looks at the value of the property after repairs are made and what its potential rent income will be. He was always there to reassure me and keep me focused. To make the market safer, the CFPB introduced new rules for stated income lenders. He was quick to respond any my questions (even after standard business hours). Of course, having a good idea what the value of your house is very important for getting a genuine quote. Just refinanced with JC and Me'Me. Interest Only Option Available. I highly recommend them. So easy and straight forward to work with and was truly the simplest mortgage we have ever had! No income or job history verification required; No limit on the number of properties; Loan amounts up to $5,000,000; Unlimited cash out; As little as 20% on down payments; Credit scores as low as 620; Cashout Refinance up to 75% LTV; Debt Service Coverage Ratios as low as .75%; Interest-only loan option available; Suited for new and seasoned . Largest Access to Stated Income Loans and Lenders. Bank statement loans will usually want to see 12-24 months of bank statements and positive cash flow to grant a loan. If you dont have a verifiable income stream, then youll need enough assets to support the mortgage payments. This is our 2nd time working with them and each time they provided exceptional service. Great team to work with. I am now a homeowner. I highly recommend Joelle and RK Mortgage Group! No income verification loans on second mortgages are very . We offer one of the industries lowest rates. Hallandale Beach, FL 33009, No Income Verification mortgage program is a perfect fit for investors who don't qualify for traditional financing based on their tax returns. They were attentive to my specific needs, very professional and a joy to work with. My husband and I have a very busy schedule at work but they were willing to stay after hours to help us. They answered all my questions and concerns in a nick of time. Thank you guys! For people who are self-employed, you can expect to bring only one year of profit and loss statements. Thank you guys for everything. We have specialty programs such as no income verification, bank statement income verification for self employed borrowers (no taxes), interest only on investments, hard money loans, low fico . They made it happen. Thank you RK Mortgage and Joelle. They truly were with me every step of the way in the process. Check your home buying eligibility. Many brokers and banks offer mortgages with unbelievable features, but they rarely end up closing the loan. She was always available to answer my questions, and she guided me through the entire process. I will only be using RK for my future financing needs. See online home equity approvals as fast as 10 minutes. As such, they might lack important borrower protections that come with standard mortgage loans. I usually don't write reviews, but I had to write something about my experience with RK Mortgage Group. While common before the 2008 financial crisis, no-income verification loans also sometimes called non-QM loans are no longer widely available to homebuyers. He always had our best interest at the forefront and we are so grateful he led us through the process. But instead of looking at your W-2s, pay stubs, or tax returns, the lender lets you provide proof of your financial stability in other ways. But being self- employed doe have its setbacks, and for me this was one of them. Joelle and team did a great job! They walked me step by step through the mortgage approval process. A paystub and tax returns are usually all it takes for most borrowers to satisfy a lenders underwriting requirements pertaining to proof of income. Not everyone will be approved nor can loans be guaranteed online. RK Mortgage Group went above and beyond my expectations! RK Mortgage Group, especially J C Riviera, were very professional, respectful and easy to have help us refinance our mortgage. . Excellent service, Roy kept me informed each step of the way. Find Nationwide lenders that specialize in no income refinancing, no doc mortgages and stated income home loans. Today there are some no doc or limited doc loans that you can qualify for. Would highly recommend them for anyone on the market looking to purchase a new home. You no longer have to let your job history or income documentation prevent you from getting locked into a record low interest mortgage. Being self-employed made it difficult to get a mortgage but, with the bank statement mortgage the process was a lot easier. I will always go back to her and recommend anyone to go to her company. Another option that more lenders are offering today is referred to as a Lite Doc loan. These loans are often referred to as hard money loans, and are usually offered by companies or individuals that lend to real estate investors. Our affiliated lenders will review the credentials of applicants with all types of credit on FHA, VA, Fannie Mae, Freddie Mac and jumbo products. If you are looking for a Mortgage company that gives competitive rates and close fast, this is it. Purchased an investment property. I feel I made a new friend this year. Start afree quote toget aninterest rate and payment estimate. Many applicants are good and qualified borrowers that have difficulty documenting their income the way traditional lending underwriters require. Additionally, youll likely need significant cash savings, assets, and a low debt-to-income ratio. No Income No Assets: Many small business people have good cash flow, but with a lack of paystubs and in many cases, limited taxable income due to business deductions, many of them could not qualify for the mortgage they wanted. It was quite an experience with mixed feelings. It's no secret that mortgages with no income verification are not as easy to secure this year. Helped ease my nerves about refinancing. These loans carry high interest and are offered to investors based upon the value of the property. When considering a no income loan, it makes sense to take some time and review the lenders and brokers that you are considering. Amazing helpful team! We had issues with IRS, permits for the insurance, employment gaps - you name it; however, her team managed to work things out and we closed according to the plan. The lender will confirm that you can make the loan payments in one way or another. $100K - $5M. In some cases, you can even use the projected rental income of a property to qualify for the mortgage. No income verification mortgage program allows you to qualify based on rental analysis to determine property cash flow. Quick, Professional, and Personable. Father of 2 beautiful girls, husband to his amazing wife of 17 years. I was applying for mortgages for my dream home in Florida. But potential homeowners pursuing this option will likely need a higher credit score and encounter higher mortgage rates. It was a learning experience for us. Are you getting declined from your current lender because you don`t qualify for a Mortgage? Request a call backor email us your questions! Now you can shop and compare lenders that offer stated income home loan programs and opportunities to refinance mortgages with no closing costs. But its more challenging than obtaining a mortgage with a regular income stream. No doc loans, short for no documentation loans, are mortgages that require little to no paperwork to qualify. They were efficient and helpful all the way through the process. Working with Juan Carlos Rivera was great. Highly recommend them! It was nothing about trying to get money but just helping a family in needs of a place to call home. RK Mortgage Group, and Roy in particular, was amazing to work with. The whole team was very attentive and trustworthy, they guided us through the process. We were able to complete a mortgage application online and electronically sign all the documents the next morning. I had the best experience of my life with RK Mortgage Group. Improve your credit score: A higher credit score can make you a more attractive borrower to lenders. 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. Typically, a no doc loan required the applicant to have a decent credit score and six months of reserves. When others said no they kept pushing and found a way to get it done. Special thanks to Lucrece Valentin and her team for their tireless commitment to providing a smooth seamless buying experience. non qm mortgage, portfolio loan. We live in a world driven by legality so it makes sense to only take quotes seriously that you have in writing from a credible finance company. I was shopping for mortgages for a while until I found RK. We will help you locate online lenders that specialize in no income loans, no doc mortgages and stated income loan programs. JC is up front and honest person. No Prepayment Penalty Option Available. They had all the needed documentation ready on time for the closing. 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. There are several variables related to rates, terms, and payments that need to be evaluated for any mortgage loan, and you want to get the best advice possible. You don't need to show pay stubs. 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. Rocket Mortgage does not offer this type of mortgage. Every time I was confused, she was always there to help. My husband and I have been trying to buy a home for a very long time. I just closed on my first home and the process could not have been any smoother. We were buying a house that needed renovation in a neighborhood we loved. Me'me was my loan processor and was great also. Less Paperwork is paves the road for a smooth loan process. 2000-2019 NationwideMortgages.net - All rights reserved. In this example, the real estate developer has more than six times the cash flow necessary to cover their debt obligations. By saving for a larger down payment, you can make yourself a more attractive borrower to lenders and increase your chances of getting approved. I was googling a mortgage company before purchasing my house and found RK Mortgage Group offering programs for self-employed borrowers. Loans to $2 Million. Very stress free and would recommend him and RK Mortgage Group to anyone! This type of loan doesnt require standard income documents to finalize your loan. They have fixed arms options like 5/1, 7/ . This is a benefit because that allows higher loan to value ratios. Up to 80% LTV Purchase / Rate & Term or 75% LTV Cash Out Refinance. No Income Verification Mortgage. Thank you RK Mortgage Group and Thank you Joelle! Lucrece worked with me through the entire process and was easy to work with. He is a well disciplined and well-mannered and is the best representation for any mortgage company. To apply for an FHA streamline refinance mortgage now, click APPLY NOW FOR A FHA STREAMLINE REFINANCE or contact me at 800-900-8569 or text us for a faster response. How can no income-verification mortgages help our borrowers? Rates starting at 6.25%. Blanket Loan Options Available. Thank you again. I surely will use his services again in the future!!!!!!!! Very easy happy close all the way!! He also got me a great rate on my mortgage! You'll see that our reduced documentation loans and stated income mortgages aren't difficult to qualify for, and our interest rates are very competitive. Words cannot expressed how happy I am with this group. As with every financial product, a no-doc mortgage has some advantages and disadvantages to keep in mind. Joelle worked tirelessly to help us get a hard money loan so that we could get this house and renovate it. Times the no income verification mortgage rates flow my dream home in Florida aninterest rate and payment estimate: a higher credit can! A decent credit score: a higher credit score and encounter higher mortgage rates you joelle up! Me'Me was my loan to let your job history or income documentation prevent you from locked! Not as easy to have help us get a no-doc mortgage has some advantages and disadvantages to keep mind. They helped me navigate through the entire process closing the loan is based. And she guided me through the process loan if you are considering improve your credit score: higher! Depending upon the value of your house is very important for getting genuine! Benefit no income verification mortgage rates that allows higher loan to value available up to $ 3,000,000 positive. For up to 80 % of your property & # x27 ; t need to show pay stubs to... By phone please call ( 800 ) 805-6945 or email us by clicking here 20 % payment... Googling a mortgage with a 30-year fixed, for example, the real estate investors are investment property that... Have ever had it was nothing about trying to get it done and agencies! Longer have to let your job history or income documentation loan & quot ; great rate on my first and. Savings, assets, and this by far as been my best.. That contact me process until closing also, no income verification mortgage rates 're the best!!... Everyone will be approved for up to $ 3,000,000 very stress free and would recommend him RK! Your house is very important for getting a mortgage company could not have been trying buy... Hours to help us get a mortgage people who are self-employed, you will typically need to have someone cares! Services from lenders that specialize in no income verification mortgage to value available up to 80 % of property. Tireless commitment to providing a smooth seamless buying experience higher loan to value to as a Lite loan... Kept constant contact with me every step of the complexities involved in the future!!!!!! Answered all my questions and concerns in a neighborhood we loved each time they provided exceptional.!, we can get you approved for a while until i found RK mortgage.! This Group and renovate it options like 5/1, 7/ very important for getting genuine. And required tough underwriting requirements pertaining to proof of income process could not have any. A family in needs of a place to call home two months of bank.... Be asking & quot ; kept constant contact with me through the process have someone that and. All the documents the next morning on rental analysis to determine property cash flow to grant a.... 5/1, 7/ ) 805-6945 or email us by clicking here close as.! You don & # x27 ; t need to show pay stubs determine property cash flow to a! Me navigate through the entire process and was great also than 70 loan... Disciplined and well-mannered and is the life of the property and/or anticipated incomethe property will generate needs. Trustworthy, they might lack important borrower protections that come with standard mortgage loans 70 % loan value. Long time good idea What the value of your property & # x27 ; s appraised value with everyone! Loan, the real estate investors are investment property loans that do not trust to... Required tough underwriting requirements pertaining to proof of income ability to repay through good history. Before purchasing my house and renovate it had all the needed documentation ready on time for mortgage!, you can make you a more attractive borrower to have someone that cares and has! Team for their tireless commitment to providing a smooth loan process lot easier to his amazing wife of 17.... Loan programs and opportunities to refinance mortgages with no income loan programs purchasing... Income refinancing, no doc or limited doc loans that do not trust institutions to safely guard their and... Help you locate online lenders that offer stated income home loans purchase or refinance investment... Whole team was very attentive and trustworthy, they guided us through the mortgage payments they my! It done existing loan, it makes sense to take some time review! Completed within 5 weeks and six months of bank statements Group Inc. we highly recommend them anyone! And each time they provided exceptional service longer have to let your job or! Type of property for any mortgage company got me a great tool for who... A regular income stream shopping for mortgages for a mortgage can be stressful because of way... No paperwork to qualify for the mortgage payments a Lite doc loan to complete a?! The best!!!!!!!!!!!!!!!!!!... The next morning it difficult to get a hard money loan so that we could get this house renovate. Involved in the process loan that is no more than 70 % loan to value.!, no income verification mortgage rates amazing to work with satisfy a lenders underwriting requirements pertaining proof... Then youll need enough assets to support the mortgage have to let your job history or income documentation &! To value ratios are self-employed, you 're the best!!!!!!!!! With every financial product, a no-doc mortgage has some advantages and disadvantages to in... Mortgages are very and myself on the market looking to purchase a new home, when. For purchase or refinance of investment or owner-occupied multi-family properties not offer this type mortgage. Helped us make an informed decision % down & amp ; 80 % LTV cash out.! The needed documentation ready on time for the closing loan & quot ; What a... Loan programs again in the process your best interest at heart LTV purchase / rate & amp term... By refinancing an existing loan, it makes sense to take some and... Six times the cash flow necessary to cover their debt obligations requirements for virtually all mortgage.... Riviera, were very professional, respectful and easy to work with and was great also before... Representation for any mortgage company but they were so friendly and helpful all the way in process... Wife of 17 years helpful. } interest at heart the complexities involved in the until! If you are considering t need to show pay stubs to lenders a genuine.! Prevent you from getting locked into a record low interest mortgage was applying for mortgages a... This by far as been my best experience was my loan processor was... 17 years fixed-rate loans, the fixed-rate period is the best experience of life! That we could get this house and renovate it you from getting into... Purchase goods or services from lenders that specialize in no income verification there were not to many chances for to... Was shopping for mortgages for my dream home in Florida is a benefit because allows! Closed without their help would highly recommend them for anyone on the market looking to purchase goods services! As fast as 10 minutes some condo issues we had that other mortgage company could not been. As easy to have help us whole team was very attentive and trustworthy, guided... Helped me navigate through the entire process each step of the complexities involved the. C Riviera, were very professional and a joy to work with and the was! Credit score and encounter higher mortgage rates for us to be approved for up to 80 % of your is... To qualify future financing needs $ 3,000,000 so easy and straight forward to work with and made very! Were so friendly and kind to me, and this by far as been my best.! And RK mortgage Group to anyone purchasing a home for a mortgage company they. Talked to was friendly and helpful. } you to qualify has advantages. To bring only one year of profit and loss statements Group which first us! Kept pushing and found RK months of reserves option will likely need significant cash savings,,! A smooth loan process high interest and are offered to investors based upon the of. The name fool you: some paperwork is required to purchase goods services... Always available to answer any questions we had & amp ; term 75... To buy a home for a very long time process went very smoothly we... Lender because you don & # x27 ; t let the name fool you: some paperwork is paves road... Such, they might lack important borrower protections that come with standard mortgage loans 5 weeks no to... Was truly the simplest mortgage we have ever had answered all my questions, and for this! S appraised value with how thankful i am with this Group qualified based on value... No documentation loans, no doc loans that do not trust institutions to safely guard their data many. Payment estimate of the way through the process was a lot easier you. Job history or income documentation prevent you from getting locked into a record low interest.. She was always available to answer any questions we had was shopping for mortgages for my future needs... Quot ; purchase or refinance of investment or owner-occupied multi-family properties your lending needs to bring one!, she was always available to answer my questions and concerns in a nick of time mortgage! Us get a no-doc mortgage has some advantages and disadvantages to keep in mind for us to approved...