Miami FL No Income Verification Mortgage Lenders
NO INCOME VERIFICATION COMMERCIAL Miami FL MORTGAGE LENDERS
Fast Consultation- Use Bank Statement Deposits for income to purchase a Primary, 2nd Home or Investment!
Fast Consultation- Use Bank Statement Deposits for income to purchase a Primary, 2nd Home or Investment!
Whether buying or refinancing, flipping or renting Miami FL property, we’ve designed our no income verification home loans to help you maximize your investment opportunities.
COMMERCIAL NO INCOME VERIFICATION MORTGAGE LENDERS
No Tax Return Mortgage Lenders with 660 Mid Credit
| Max Loan Amount | Min Down | Credit Score | Reserves | |
| $2,000,000 | 10% | 660 | 3 Month |
No Tax Return Mortgage Lenders with 600 Mid Credit
| Max Loan Amount | Min Down | Credit Score | Reserves | |
| $2,000,000 | 15% | 600 | 3 Month |
No income or Stated Mortgage loans are approved self-employed borrowers that can verify bank deposits via bank statements.
| Miami FL Bank Statement Only Mortgage Lenders Program Details | |
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| Assets: |
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| Credit Score: | Minimum 600 |
Miami FL NO INCOME Miami FL MORTGAGE ADVANTAGES
- No income verification
- No debt-to-income calculations
- No minimum credit score
- Credit score only used to determine tiers
- Close in as little as two weeks
www.Miami FL-Mortgage-Lenders.com
Miami FL No Income Verification Investor Loans 6 month I/O 10 Due-in-3 15 Due-in-3
Purchase Cash-out Refi Purchase Cash-out Refi Purchase Cash-out Refi Miami FL Real Estate
Terms include: 6 months 36 months 36 months
Amortization Interest-Only 120 months 180 months
Tier 1 Rate, Points* 13%, 4 points 14%, 4 points 14%, 4 points
Tier 2 Rate, Points 14%, 5 points 15%, 5 points 15%, 5 points
Tier 3 Rate, Points 15%, 6 points 18%, 6 points 18%, 6 points
LTV 65% 50% 65% 50% 65% 50%
Min. Property Value $30K $36K $50K $80K
Property Condition C1-C5 C1-C4 C1-C4
Investment Purpose Flip Flip or rent Rent only
Prepayment Penalty No No Yes
Miami FL NO INCOME VERIFICATION LOAN CHECKLIST
WHAT WE NEED
- Driver’s License
- Property Address
- Insurance Policy
- Closing Fee
- Credit Score
WHAT WE DON’T NEED
- Pay Stubs
- Tax Returns
- W-2s
- K-1s
- 1099s
- Bank Statements
- Investment History
- Business Plans
- Property Inspection
- Full Credit Report
Flipping a Miami FL property? Our short-term interest-only loan lets you keep cash available for improvements and other opportunities. Renting out a Miami FL home? Our 10-year and 15-year loans keep your no income verification mortgage payments low. Miami FL No income verification lenders providing loans for home investors. As always, we lend our no income verification loans based primarily on the Miami FL home value, which means a fast, simple, dependable process:
And with loans up to $300,000 and a wide variety of terms, we can help you reach all of your investment goals.
No Muss, No Fuss Loans. Unlike other Miami FL no income verification lenders, we focus on the value of
the Miami FL home. Our no income loans provide Miami FL homebuyers with a fast and easy approval process. Simply complete an application, provide an appraisal and clear title, and we’re ready to roll. As always, our customers never have to worry about stacks of paperwork and time-consuming personal verifications, which means:
- 1.No income verification
- 2.No debt-to-income calculations
- 3.Close in as little as two
If you have unverifiable income generating from substantial savings the no income verification loan might be best Miami FL mortgage you can use to purchase real estate. A No Doc or No income verification Miami FL loan is not for everyone, if you fit the loan parameters, it can be a great tool for buying real estate.
What is a no income verification asset-based loan? This loan is called an asset-based loan or asset depletion loan. Essentially the no income verification loan takes your assets and spreads them over 360 months (or less in some cases) to create your monthly income.
Who can benefit the most from this type of Miami FL no income verification home loan Those who are retired (or close to it) with a liquid high net-worth.
What kinds of assets qualify for a no income verification home loan? No income verification loans largely depend on your goal. If you are purchasing a primary single family home and plan on using assets from your 401k then Freddie Mac or Fannie Mae will suit you well. If, however, your assets are more complicated and you would like to utilize the program to purchase Miami FL investment property then a portfolio lender will be a better fit.
NO INCOME Miami FL MORTGAGE VERIFICATION GUIDELINES- Whoever is listed on the asset account must be on the mortgage.
The assets you are using must be liquid, available to you with no penalty and a direct result of employment-related savings (i.e., retirement savings):
- Retirement accounts such as 401(k), IRA, SEP, KEOGH account; any account recognized by the IRS.
- Stocks
- Bonds
- Mutual Funds
- Non-self-employed severance package.
- Non-self-employed lump-sum retirement.
The Fannie Facts:
- Down Payment Required: 30%
- Minimum Credit Score: 620
- Loan Purpose: Purchase or No Cash-Out Refinance
- Type of Home: Primary Residence or Second Home
- Acceptable Property Type: 1-4 Units
General Freddie Mac Asset Guides
Whoever is listed on the asset account, must be on the mortgage.
The assets you are using must be liquid, available to you with no penalty and a direct result of employment-related savings (i.e., retirement savings):
- Retirement accounts such as 401(k), IRA, SEP, KEOGH account; any account recognized by the IRS.
- Lump-sum monies received (the original source any lump-sum must be employment-related).
- Assets from the sale of a business.
Acceptable Miami FL Assets Include:
Cash Equivalents
- Self-Employed Income
- Retirement (must be of retirement age)
- CDs
- Savings
- Money Market Accounts
- Public Stocks
- Bonds
- Mutual Funds
- Trust Funds
- Lotto Winnings
- Lawsuit Settlements
- Other Complex Asset Portfolios
