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Easy "Qualifying" Loans

Mortgages for Buyers with Past Credit Problems

How to Make the Best Purchase Offer

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Most home buyers work for a steady paycheck and are willing to divulge details of their finances when applying for a mortgage. But a lot of house buyers don’t draw a steady paycheck. They own businesses, make commissions income, live off of investments, or get their income in cash. Others simply do not want to give up their financial privacy. If you don’t or can’t provide financial documents then the...

"Easy Qualifying" Loan Is For You.

There are four main types of "Easy Qualifying" Loans.

• Stated Income These mortgages tend to be for borrowers who work but don't draw regular wages or consistent incomes. You'll disclose how much you make, but you do not document it. Your assets and employment are verified. Generally you'll pay approximately half percent higher than regular conventional loans.

• No-Ratio With these mortgages, the borrower does not declare income. No pay stubs, no W-2s, no tax returns. Think of it as a "don't ask don't tell" mortgage. The lender doesn't ask how much the borrower earns, and the borrower doesn't tell.
  
  The borrower does list the assets - money in the bank, stocks and bond, etc. This is a fast, easy and less "red tape" loan. Good credit is required.

• NINA This loan requires the least documentation of all three programs. Basically the lender requires a credit report and property appraisal. Your down payment is not disclosed or verified. No income is required.

• NINA with NO EMPLOYMENT Same as above except No Employment is shown or documented.

"Its amazing how little information is required"

Good credit is required and these loans do carry a slightly higher interest rate than conventional mortgages. But they have a much easier qualifying process.

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