No Doc Mortgage Lenders 2021

As the name suggests, a no income verification mortgage is also known as a no doc mortgage. NINJ mortgages, which stand for no income, no job, are another name for this type of loan that does not require the lender to verify your income. and it’s a loan that’s above the conventional loan limits. Fannie Mae and Freddie Mac, who buy loans from lenders, set this cap. In most counties, a loan amount over $715,000 will prevent either of the two government-sponsored organizations from buying it, but in some counties, like Los Angeles and San Francisco, the maximum loan amount before it qualifies as a Jumbo no income verification mortgage loan is $970,800.

Typically, both Fannie and Freddie buy the bulk of U. S. banks and other jumbo lenders’ residential mortgages, freeing up liquidity to lend on more mortgages We provide a lot more loan options than other lenders do and have the best mortgage rates for no income verification mortgages.

The primary distinction between this No Income Verification Mortgage Loan and a bank statement loan or full doc loan is that, unlike conventional mortgages, we are not required to verify a borrower’s income through tax returns and recent pay stubs.

The Benefits of applying for a No Income Verification Mortgage

  • ​Doesn’t require the borrower to provide documentation of income.
  • No Statement or Verification of income is required.
  • Low amount of paperwork.
  • The debt to Income Ratio does not factor into underwriting guidelines.
  • No Prepayment Penalty.
  • Rate and Term and Cash-Out Refinance options are available.
  • No Income Verification Loan – No Doc Mortgage requirements?

  • 20% Down 80% LTV for Primary Residences.
  • 20% Down 80% LTV for Second Homes.
  • Cash-Out Refinance up to 70%.
  • Investor No-Income Verification Loans Click Here.
  • Requirements for getting a No Income Verification Mortgage – No Doc Mortgage?

  • The borrower’s credit score should be 640 minimum to be eligible.
  • The maximum loan amount is 3,000,000.
  • Loan amounts as low as $200,000
  • Low reserves requirements.
  • Gift funds are allowed.
  • The programs are available for single-family residential housing (regular houses, townhomes, and condominiums). Multi-unit, vacant land, and commercial properties are not eligible.
  • Available up to $3,000,000 with 20% down and 80% no income verification mortgage to value.

    Call us at (800) 986-4580 because we are experts in the Jumbo Mortgage Business.

    Current No Doc Mortgage Rates

    You can see the current lowest No Doc Mortgage rates by “CLICKING HERE.” You can click to request your Custom Rate Quote if you see an interest rate you like.

    Comparing Current No Income Verification Mortgage Rates

    We will negotiate the best possible interest rate for you when you shop for Jumbo mortgage rates, saving you hundreds of dollars annually and thousands of dollars over the course of your loan. Yes, it’s important to have us find the best no income verification jumbo loan rate.

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    Eddie and his team were available seven days a week, from the initial call to the closing, to answer any questions or simply to help us navigate the procedure. Even though it might not directly benefit him, he takes the time to remind you of things that should be taken into account. …read more →.

    I was frustrated when I conducted a web search that led me to First Florida. I was certain that there had to be financing available that would enable me to obtain a sizable mortgage with little to no down payment and no PMI. Traditional lenders wanted 10% down minimum. My credit union would do a loan…read more →.

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    I found First Florida when I was looking for a Jumbo Loan and didn’t want to put 20% down; instead, I found many lenders who would accept 10% instead. We did not have to pay monthly mortgage insurance, and I must say that I got a GREAT Rate.

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    Expert advice at your fingertips

    Every day of the week, our home loan specialists are available to address all of your home loan inquiries. We don’t keep bankers’ hours…. We’re available nights and weekends because we recognize that you have a busy schedule.

    No Doc Mortgage Lenders 2021

    Eddie Hoskins Founder & CEO

    Offering our customers loan options that aren’t available from big-box lenders or banks, as well as the lowest rates and individualized service possible That’s he built E Zip Mortgage.

    Why should you choose us for your No Doc Mortgage home loan?

    We provide mortgages at wholesale rates, which are lower than retail rates, and we also provide a variety of loan options, so you are not limited to a single set of strict underwriting standards. We work for you, not the bank.

    No Doc Mortgage Lenders 2021

    Are credit scores a little low?

    With the help of a rapid credit rescore, which typically takes 48 hours, we can offer you options to raise your credit scores quickly.

    No Doc Mortgage Lenders 2021

    “We Think Outside The Box”

    Every day, our “Outside The Box Thinking” helps home loans be approved and closed, from bank statements as income loans to approvals for 50% debt to income ratios.

    No Doc Mortgage Lenders 2021

    We’ve streamlined the mortgage process, and close in 30 days or less.

    From application to closing, everything is done with your palm.

    FAQ

    What credit score is needed for a no doc loan?

    No-doc mortgage requirements vs. other types of mortgagesLoan requirementCredit scoreNo-doc mortgages700FHA loans580Conventional loans620.

    Do banks do no doc loans?

    Large credit unions and many traditional banks do not provide no doc loans. Compared to their larger counterparts, online lenders can offer more flexibility in terms of lending requirements. Clarify Capital is a leading lender for low-doc loans.

    What is the easiest type of mortgage to get approved for?

    FHA mortgage requirements. A mortgage backed by the Federal Housing Administration (FHA) might be easier to qualify for than a conventional loan. When you pay for FHA mortgage insurance, lenders who are approved by the FHA are safeguarded against losses.

    What should you not tell a mortgage lender?

    10 things NOT to say to your mortgage lender
    • 1) Anything Untruthful. …
    • 2) What’s the most I can borrow? …
    • 3) I forgot to pay that bill again. …
    • 4) Check out my new credit cards! …
    • 5) Which credit card ISN’T maxed out? …
    • 6) Changing jobs annually is my specialty. …
    • 7) I prefer commission-based work; this salaried position is not for me