Utmost Pro, Inc-1-844-488-6678-NMLS 1516640
No Income Verification Mortgage
When borrowers apply for a mortgage, the lender typically requires proof of their income to ensure that they have the ability to repay the loan. However, some borrowers may struggle to provide this documentation due to various reasons such as being self-employed or having irregular income streams. In such cases, no-proof income mortgages, also known as stated income or no-doc mortgages, may be an option.
We significantly simplify the loan process, helping more people realize their dream of homeownership. We offer a unique loan with qualifying in three simple steps.
Common-Sense Underwriting
This innovative product addresses the regulatory rules limiting prime borrowers’ access to lending by eliminating unnecessary documents that are not part of the credit underwriting decision.
Approval is based on the borrower’s reserves.
GUIDELINES
- Primary residence and second homes
- Purchase / Rate & Term Refinance
- Cash Out Refinance
- Employment not stated on the application
- Income documentation not required
- DTI not calculated
- Income not stated
- Credit underwritten based on LTV, FICO, and liquidity
- Loan amounts up to $3 million
- Asset seasoning 30 days
- LTV up to 80% purchase/rate-and-term
- LTV up to 70% cash-out
- FICO beginning at 640
- Debt consolidation = rate/term
