Best no income verification mortgage program requirements for investment 1-4 family, condos, multifamily, mixed use, retail, office, warehouse, light industrial, self storage and auto repair properties and more.
• Great for self-employed borrowers.
• Based primarily on property value and condition.
• Best alternative to short term bridge and hard money loans.
• 30 year fixed rates.
Transaction Types: Purchase, Rate/Term & Cash Out Refinance.
Loan Amounts: $100,000-$5,000,000+
Loan to Value: 75% maximum. 90% CLTV on purchases.
Amortization/Term: 30 years.
Rates: Competitive market rates. Interest only option also available.
Origination Points: Flexible. No point option also available.
Prepayment Penalties: Flexible.
DSCR Requirements: None required on 1-4 family properties. Flexible DSCR on commercial properties.
Credit Score requirement: Minimum of 600 middle credit score.
Mortgage History: No more than 2×30 in past 12 months (exceptions possible).
Lending Coverage: All states with the exception of CA, AZ, NV, AK, AL, HI, SD, ND, MI, IL, MN,
Recent Closed No Income Verification Mortgage Program Fundings
Property location: Fairburn, GA
Property type: Single Family Investment
Purpose: Property redemption
Loan amount: $1,250,000
LTV: 61%
Term: 30 year fixed
Borrower had lost the property to a hard money lender but was given the opportunity to redeem it for a pre-agreed amount if he could close quickly. After numerous unsuccessful attempts to close with other lenders, he came to us and we were able to close in record time.
Property location: Suffield, CT
Property Type: Warehouse
Purpose: Purchase
Loan amount: $1,704,000
LTV: 75%
Term: 30 year fixed
Borrower needed to capitalize on an opportunity to buy two warehouses next to each other to house his business. We provided him with the necessary financing in less than 30 days.
Property location: Brooklyn, NY
Property Type: mixed use
Purpose: Purchase
Loan Amount: $719,475
LTV: 75%
Term: 30 year fixed
Occupancy: Owner -occupied
Units: 3
Subject had 1 out of 2 residential units vacant. Commercial space was barely finished and was to be occupied by buyer’s business.
Property location: New York, NY
Property Type: multi-family
Purpose: Refinance
Loan Amount: $1,500,000
LTV: 40%
Term: 30 year fixed
Occupancy: Investment
Units: 15
Borrower’s loan with local bank was ballooning and was looking for a hassle-free permanent loan solution.
Property location: Dallas, TX
Property Type: multi-family
Purpose: Purchase
Loan Amount: $828,750
LTV: 75%
Term: 30 year fixed
Occupancy: Investment
Units: 16
Subject was 37.5% vacant. Borrower had an opportunity to buy property at a discount and needed to close fast.
Property location: Jamaica, NY
Property Type: mixed use
Purpose: Refinance
Loan Amount: $667,500
LTV: 70%
Term: 30 year fixed
Occupancy: Investment
Units: 4
Borrower had recently purchased subject by assuming its existing delinquent real estate tax debt and needed to refinance it quickly. We provided him with a permanent loan in less than 30 days.
Property location: Holiday, FL
Property Type: Residential
Purpose: Refinance
Loan Amount: $207,500
LTV: 75%
Term: 30 year fixed
Occupancy: Investment
Units: 1
Borrower’s existing interest only mortgage was ballooning. We provided him with a permanent loan in less than 2 weeks.
Property location: Bayside, NY
Property Type: Residential
Purpose: Refinance
Loan Amount: $500,000
LTV: 45%
Term: 30 year fixed
Occupancy: Investment
Units: 3
Subject property was vacant and in need of major repairs. Loan proceeds were used towards the repairs and for making the payments until property is fully leased.
Property location: Jamaica Estates, NY
Property Type: Commercial condo
Purpose: Purchase
Loan Amount: $700,000
LTV: 70%
Term: 30 year fixed
Occupancy: Owner -occupied
Units: 1
Borrower was purchasing subject unit for his dental practice and didn’t show sufficient income to qualify through traditional means. We provided him with a no income asset based loan in less than 30 days.