No Income Check Loans
Millions of people across the country have financed their home with a no income loan. These no income mortgage programs were originally designed for self-employed borrowers who had difficulty coming up with income documentation like W2's and paystubs that most conventional lenders require. The no income check loan is also referred to as a stated income mortgage, because the borrower is allowed to state their income without providing documentation to prove it.
Typically borrowers who need a bad credit mortgage will need more equity to qualify. In most cases no income check loans are approved for borrowers with high fico scores. If you have trouble providing income documentation because you own your own business or you are a 1099 contract worker, a self-employed mortgage may be the solution you need to qualify for low rate home financing.
Ask About a No Income Verification Loan with a Great Rate!
The Mortgage Loan Outlet offers several no income loans to homeowners with all types of credit and equity credentials. Speak to a MLO loan agent today and find out how much money you can save with our mortgage solutions.