No Income no employment loan is here. Yes, that’s right I offer this loan program which doesn’t require any income or employment to buy a primary residence or second home. It’s a very easy loan to qualify for with minimal requirements and is intended for a select number of individuals who can put at least 20%-30% down. There are many borrowers who are very well qualified but don’t quite meet the strict Fannie Mae or Freddie Mac loan requirements or even the FHA requirements. I am constantly searching for loan products to best help my family, friends, and clients to become successful homeowners.  Here are a few of the requirements:

• Primary residence and second homes
• Income documentation not required
• Income not stated
• Debt-to-income (DTI) not calculated
• Loan amounts up to $3M
• Up to 80% LTV (purchase/rate-and-term)
• FICO beginning at 640
• Homeowner education required
• Impounds for taxes and insurance are required
• Reserves from 12 months
• 100% gift funds permitted
• Interest only option w/ minimum 660 credit score

As you can see, it’s not difficult to qualify for this home loan program, as long as the borrower(s) have the assets and the required credit scores. Another great feature about this loan is that you’re not required to have perfect credit, you can literally but a day after your bankruptcy discharge and 1 year after foreclosure (with acceptable letter of explanation). To learn more about the no income no employment loan program, contact me.