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NO INCOME VERIFICATION LOANS PROGRAMS
Stated Income Mortgages/No-Income-Verification Loans for Real Estate Investors are available Nationwide with Stratton Equities.
If you’re a self-employed individual looking to apply for a mortgage loan, you might be overwhelmed with the traditional mortgage lending process and looking outside of conventional mortgages.
Between the pile of paperwork, the required information about source of income, credit history, cash flow, savings account, and all the asset requirements – prospective Real Estate Investors are limited to applying or receiving a conventional mortgage loan to a self-employed person.
This is why self employed borrowers look towards private money loans as the financing solution to acquiring the loan amounts for their real estate investment properties.
No Income Verification Loan / Stated Income Loan for Real Estate Investors
A stated income loan or no income verification loan, is one of the leading private money loan programs available to real estate investors, allowing the borrower to secure funding without needing to qualify on their debt-to-income ratio.
Unlike conventional mortgages, a stated income loan is easier to be approved versus a traditional loan, and is a way for self employed borrowers who would not qualify for a traditional financing to achieve their investment dreams. These types of loan programs are for investment properties only and not for primary residences for an owner occupied property.
Though there has been much criticism of stated income loans recently, for certain borrowers, they are the best mortgage loan option.
Only Real Estate Investors with high credit scores (over 650) are eligible. Whether it's a commercial real estate soft money loan or a soft money rental loan, this type of loan product benefits borrowers who do not have the ability to go to the bank due to their documented income, closing timeline, and employment history.
Unlike conventional investment property loans that max out at 70% LTV, a NO-DOC Soft Money Loan Program maxes at 85% LTV and with no PMI. This allows the borrower to put less money down on their purchase.
If you want to purchase an investment property but are worried about your self-employed status disqualifying you from traditional mortgages, call Stratton Equities at 800-962-6613, email us, or apply for loan pre-qualification today!
No-Income-Verification Loan Summary
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Investment Properties Only: Single-Family, Condos, Townhomes, Multi-Family, Commercial, Mixed Use, Office, Retail, Industrial, Warehouse
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Blanket Loan Options Available
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$100K – $5M
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Loans up to 85% of value
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Fixed rates/Adjustable
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12 months, 5/1 ARM, 7/1 ARM, & 30 Year Fixed
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Purchase, Refinance, or Cash Out Refinancing
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Foreign Nationals Eligible
What is a No-Income Verification Loan?
A no-income-verification loan is a type of loan program that doesn’t require the borrower to provide documentation of income.
Unlike conventional loans, these loans (also known as no-doc & stated income mortgages) offers a solution to investors who couldn't satisfy full documentation loan programs.
At Stratton Equities, we utilize these loan programs for Real Estate Investors, as it makes it easier to secure financing.
Borrowers may find it difficult to qualify for traditional mortgages due to their unstable or undocumented income as well as the tougher documentation requirements from lenders.
With bank statement loans you still have to qualify for your DTI (debt to income ratio), most lenders use bank statements (typically up to 2 years) to confirm a borrower’s income rather than tax returns and recent pay stubs like traditional mortgages.
Each lender has its own underwriting requirements and guidelines to determine net income, therefore if you don’t qualify with one lender, there are other lenders that you will.
Bank statement loans are offered through NON-QM lenders, like Stratton Equities - however, we offer a mortgage program that supersedes a bank statement loan, which is a true stated income/no-income verification/no-do mortgage. This particular loan program benefits investment properties and commercial properties nationwide.
Not all lenders offer Stated Income loans, but Stratton Equities has pioneered this unique and rare loan for borrowers nationwide looking to expand their investment opportunities.
Get started on all the documents and requirements for your No-Income Verification Loan, visit our Document Library to discover what you need throughout the loan process.
A No-Income-Verification is for investment properties only (ex. For Rental income) and are not to be used on owner occupied or primary residences.
Ready to Finance Your Investment Properties?
Apply now. Our originations team is ready to work on your loan.
Our loan officers will talk you through the process of applying for a stated income loan and will quickly process the loan application, allowing you as the self employed borrower to run your business and get the funding for the loan amount you need to buy your dream real estate investment property.
Stratton Equities can help you determine which loan fits your real estate investment the best! We are a nationwide leading direct hard money and NON-QM lender – we have a wide-range of programs, lowest private money rates (starting at 4.375%), a helpful, friendly, and professional team, and a quick and hassle-free loan approval process. Working with us will get you through all the fine details in a rapid process, out-pacing our competitors.
Looking for Cash Out Refinancing or a Hard Money loan? Check out our library of loan programs.
Stated Income Loan Qualifications
A stated income loan from private money lenders is categorized as a non-qualified mortgage aka a NON-QM loan.
To begin the qualification process for a stated income mortgage loan, the borrower will need to show proof of at least 2 years’ worth of self-employment. There is no need for W2 forms, savings account, liabilities, or other proof of cash flow or employment documentation.
When applying for the stated income/ no-income verification mortgage loan, the self employed borrower will simply show their trusted private money lender their bank statements for the past 2 months, business license, and proof you are still in business.
Basing loan approvals on proof of self-employment or bank statements, rather than W2’s and liabilities makes the process quick and hassle-free.
The benefits of applying for a Stated Income Mortgage Loan:
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Low amounts of paperwork
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Payment sourcing is faster and easier
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Debt to Income Ratio does not factor into underwriting guidelines
A non-qualifying mortgage loan (NON-QM) is available for both self-employed individuals and those with proof of income in the form of a W2.
Self-employed borrowers can find it difficult to qualify for a traditional mortgage loan in their investment property, as many mortgage lenders do not want to risk lending to a borrower without a regular paycheck.
Reputable private money lenders, like Stratton Equities, are happy to view your bank statements and get the paperwork rolling rapidly. They are able to do this due to the nature of a private money loan and the structure of their underwriting guidelines.