Need a Stated Income Mortgage or No Doc Loan? No-doc . RK team got everything taken care of quickly and made this a smooth transaction. Start Online. We do not require pay stubs or tax statements. Thank you for getting it done! I really appreciate everything RK team did for me to finance my mortgage. Through complications on the closing of my previous home and new turns and twists in the purchase of our new home, Joelle and Me'Me were there through it all to make sure things closed. Ive made a call. They are both knowledgeable, kind, thorough, prompt, responsive, and professional. I called Joelle in a panic, and she got me approved and saved my contract. Can I get a mortgage if I get paid in cash? Thank you again for all of your help and support! 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. His knowledge was invaluable to us during this whole journey. She goes above and beyond for her clients. No-income verification mortgages dont require proof of income. Find Your No Doc Rate? Most lenders will require that you have approximately 20% equity in your property (after closing on the second mortgage) and the rate typically will not be as favorable as when income documentation is provided. This should provide your lender with enough information . Andres was fast and efficient. A no income verification mortgage loan is a type of mortgage that does not require borrowers to provide documentation of their income. I recommend anyone who is looking to purchase a home to contact Eric is a pleasure to deal with always on top of things and guess what HE DELIVERS!!! But be prepared to provide extensive documentation about your financial situation. She was always available to answer my questions, and she guided me through the entire process. Alternate names: Alternate income loan, alternative income . He is a well disciplined and well-mannered and is the best representation for any mortgage company. If you are purchasing a property, bank statements are only needed to . Lucrece and our loan processor MeMe worked extremely hard to get our deal done. After deciding to move forward everything from start to finish was easy and fast. LTVs up to 75%. 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 . Call 1-613-296-3892. As low as 640 credit allowed, with 35% down payment and 24 months reserves. Always fast to respond to phone calls and any concerns, great with answering unlimited questions of first time homebuyers, explaining every step of the way, and simply getting things done. If for some reason we cant help, well do our very best to point you in the right direction. Fixed rates/Adjustable. The speed at which my communications were received and answered was outstanding. Every time I was confused, she was always there to help. I found RK Mortgage on the internet, I did some research and gave them a call. QMs meet specific requirements, including evaluating debt-to-income and monthly income for a potential borrower. 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. On May 19, 2022, the average 30-year fixed rate was 5.25% according to Freddie Mac. I heard nightmare stories about buying homes and loan companies but this was not one of those cases. They never missed a call anytime I had a question or concern. Self employed borrowers should also review our, Qualification based on property cash flow, 2 years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu, No limit on number of properties financed. Joelle provided my family with amazing service. What en excellent experience! You no longer have to let your job history or income documentation prevent you from getting locked into a record low interest mortgage. . Lucrece was very helpful and gave us hope about the refinance. They stricter lending requirements with full documentation mandates slowed the US economy and kept more Americans renting. Income Documentation is Not Required. When others said no they kept pushing and found a way to get it done. Highly recommend them! First I want to express my deepest gratitude to Juan Carlos Riviera for his patience, courtesy and professionalism. JC was amazing to work with, available at all times to answer questions and always quick response back to me. I started working with JC on getting the financing done, he is the most patient man on earth. In this day and age, customer service, I feel has become something of the past. This is not a commitment to lend. You don't need to show pay stubs. I would highly recommend RK Mortgage Group and Lucrece and Marcia specifically. Additionally, she is the founder of Adventurous Adulting, a personal finance blog dedicated to helping readers tackle their money and take control of the adventure of life. They truly were with me every step of the way in the process. As first time byer I had million questions. These loans are available with competitive interest rates and are typically five-year ARMs. Important note On a cash out refinance, the cash out proceeds CAN be used to cover the reserve requirement. But its more challenging than obtaining a mortgage with a regular income stream. Joelle and team did a great job! The debt service will be $350,000 a year. We offer one of the industries lowest rates. Today there are some no doc or limited doc loans that you can qualify for. Within minutes after filling the application, I received a call from Andres. I had an issue with my other mortgage company that I had been working with and upon contacting RK Mortgage. Thank you!!!! Keep in mind that these types of no doc or limited doc loans will still have more stringent lending requirements than in the past. For example, if you are reporting this cash income on your tax returns, that might be enough evidence for the lender. Lucrece was absolutely fantastic to work with! We offer stated income loans and jumbo loans from $200k to $10 million. RK Mortgage Group was considerate of my family's needs and provided options. Low Rates Not a Hard Money Loan. A borrower with a good credit score can lock in a better rate than a fair credit borrower. Thank you RK Mortgage and Joelle. See online home equity approvals as fast as 10 minutes. Thank you for your help to buy our new home! Office, Retail, Warehouse, Self Storage, Automotive Service ( No gas stations). Getting to the closing table will not get easier than working with this great team. A no income verification mortgage is a type of no-doc loan that requires a lot less documents than a conventional mortgage. . Joelle was able to jump right in resolve the situation and help me close on my home. Just refinanced with JC and Me'Me. Roy and Me'Me closed my loan even after some condo issues we had that other Mortgage company could not close. Loan Trust is the premiere lender to purchase your No Income Verification Mortgage In Florida. Roy/Me'Me made my dreams of becoming a homeowner again possible. Highly recommend! Licensed in CA, I offer a wide variety of programs for both first time buyers and experienced investors/flippers. Many Americans simply do not trust banks or government agencies having access or records of their personal or financial information to get a loan. He made what felt like the impossible, possible. It was a great pleasure to work with RK Mortgage Group from initial call to closing. We actually closed in 26 days. These loans are risky for lenders, so they require higher mortgage rates for borrowers. The no doc mortgage options and no income verification loans were popular programs before the default rates kicked in. Less Paperwork is paves the road for a smooth loan process. Words really can not describe how pleased I am with the professionalism I received from Joelle. These loans generally require you to have enough liquid assets or alternative income sources to repay the loanand the lender is required to verify these sources. Juan Carlo Rivera, was quick, professional and courteous. Check your home buying eligibility. 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. Lorie C, Fort Myers, Florida How can I buy a house without 2 years of income? I will only be using RK for my future financing needs. These guys didnt miss single email, every phone call was answered and they brought me to closing with such an ease due to continuous and patient education. What loan does not require proof of income? What is a no-income verification mortgage? . I have nothing but GREAT things to say about RK Mortgage Group. If you are refinancing, you need to find out what the fico score and loan to value requirements are before making a commitment. Will recommend to anyone needing a mortgage. . If you need a mortgage I recommend you call RK Mortgage Group. For investment property, getting a DSCR loan would be the option to go with. He kept constant contact with me on any updates throughout the process. I was working with Roy and Me'Me. 800 SE 4th Ave Suite 139 Another option for some business people and real estate investors are investment property loans that do not require regular underwriting and full documentation. Will definitely Recommend. MeMe is so cool and she always makes us feel encouraged. Her professionalism was like no other. This option is for primary residence and 2nd homes, and can be used to purchase or refinance a property. Adam Lesner is a Mortgage Loan officer in Brighton, MI. The entire application process handled by email and online, which was very convenient for me. I would go with him again! I encourage you to reach out if you need to get approved for a mortgage with no income verification, or need guidance on your specific loan scenario. Thank you RK Mortgage! Nationwide offers no cost home loan quotes for people seeking refinancing, home equity, purchase mortgages in the United States. Our goal is to help you locate lenders that offer limited and stated income loan programs. The basic requirements for a no-income verification loan include: A credit score of 700 or higher. It was a great process. I have worked with many different lenders in the past because I'm a Realtor. Loan Amounts to $10M. As a homebuyer, its often easier to work through the mortgage process if you have a steady W-2 income for your household. Andres Taillepierre and his team worked super hard and quick to give us the best deal refinancing our home. He gave me all our options in a clear and concise manner. RK Mortgage Group team made my dreams of becoming a homeowner again possible. If you get paid in cash, it might be possible to get a mortgage. }) Strongly recommended! If any one wants to do business with professionalism and respect, I recommend Andres and his team. Thank you! Rates back in the old days in the 80's were over 10%! Phone Number*. Why Choose Us. My husband and I were so excited when we were pre-approved. Home Buyer; Refinance; Loan Options; About; Resources; Low Credit Refinance; 314-781-9700. . Joelle worked tirelessly to help us get a hard money loan so that we could get this house and renovate it. She is very professional and asks questions to help you make the best financial decision available. Thank you so much Joelle for your service. Additionally, Roy was solid and reassuring throughout the whole process, which was especially appreciated since we were first time home buyers. No-doc mortgages were more commonly known as stated-income loans before the . No Income Investor Loan Key Loan Features. RK Mortgage Rocks! At times, I became anxious about the process, but Juan Carlos did his best to put me at ease. A no-income verification mortgage refinance is a type of loan that allows borrowers to refinance their homes without having to provide documentation of their income. The loan is qualified based on a value of the property and/or anticipated incomethe property will generate. No-doc loans . . As a foreigner, it was not easy at all to get a refinance with reasonable interest rates After getting tired of either being rejected by well-known lenders or getting quoted with outrageously unaffordable interest rates, we were about to give up our renovation plan to upgrade our new house. There is no application fee from participating lenders or banks. This was the first time I worked with Joelle. We could never properly express our gratitude to MeMe or Roy! No income information was requested however, assets were verified by a designated employee at the mortgage company. To qualify, you must deposit a 25 percent down payment for the total cost of the purchase transaction and obtain 65 percent Loan to Value (LTV) financing for refinancing. I couldn't be happier with Joelle and Me'Me. Many brokers and banks offer mortgages with unbelievable features, but they rarely end up closing the loan. I usually don't write reviews, but I had to write something about my experience with RK Mortgage Group. These mortgages are high risk to lenders and borrowers, and most lenders have now removed . Most investors use these limited documentation loans for fix and flip properties. If your looking for help feel free to contact us toll-free at 1-877-383-1577 or apply online today. 30 Year Fixed Rates Available. I highly recommend RK Mortgage! I highly recommend RK Mortgage Group!! No Income Verification Mortgage. He was patient and complete in answering all my questions. Always available. As a first-time homebuyer, I never knew how to go about buying a house. 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) . Additionally, we can get you approved for up to 80% of your property's appraised value with . I will extremely recommend RK Mortgage Group to others looking to get approved for a loan. RK Mortgage was definitely the right choice for us. A++++. But potential homeowners pursuing this option will likely need a higher credit score and encounter higher mortgage rates. I am very grateful for your quick and professional work! No Income Verification Mortgage. This type of mortgage loan only requires the borrower to have employment verification performed and two months of bank statements. I would recommend Joelle to any of my personal friends, family, and or colleagues!! I could not have done this without her expertise and guidance. A breakthrough in borrower qualification. Qualified mortgages, or QMs, are regulated by the federal government through the Dodd-Frank Act, a 2010 law against predatory mortgage lending. non qm mortgage, portfolio loan. How can I get approved for a mortgage without proof of income? He always kept the fire going and the process was completed before the promised deadline. On fixed-rate loans, the fixed-rate period is the life of the loan (30-year fixed, for example). Thanx for having Ms. Meme on board. The definition of "Above and Beyond". Thanks again, and we definitely recommend Lucrece and her team! As with all mortgage types, including conventional loans and government-backed loan programs, there is a risk that the lender will repossess your home if you dont make your payments on time. There was absolutely no surprise in the settlement. Lenders don't have to consider tax documents like W2s or tax returns but can accept bank statements as a sufficient form of proof of income. 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. Are you getting declined from your current lender because you don`t qualify for a Mortgage? No-Doc Loans offer extremely versatile qualifying guidelines coupled with flexible underwriting standard. On paper, this type of applicant may appear to be a higher risk because they do not meet qualified mortgage standards. This can be beneficial for borrowers who are self-employed or who have other sources of income that are difficult to document. Other requirements include a maximum loan-to-value of 70 percent (or 65 percent for cash-out refinances), 12 months of reserves in a U.S. bank, and asset seasoning of at least 60 days. No-income verification mortgages, otherwise called stated-income mortgages, use non-standard means of income documentation. Great job RK team! Working with Juan Carlos Rivera was great. Very professional. 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. 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