Home Buying in Miami>Question Details

Anon Buyer, Other/Just Looking in Sunrise, FL

Are any "no income verification" loans available nowadays?

Asked by Anon Buyer, Sunrise, FL Wed Aug 15, 2012

I know they were popular a few years ago, but then they disappeared. Did they ever come back? Any "no income verification" programs you know or have?
I have 50K...thinking to invest in single family in south florida. What loan could that get me and what sort of term (ballpark)? Only interested in "no verification" loan.

Help the community by answering this question:



There are no more NO DOC loans (for the most part)

But there are new loan programs out called Stated Income Alt that are very flexible

Stated Income Loans in Florida http://www.StatedIncomeAlt.com

Stated Income Alt loans are saving and creating deals! These are very flexible programs, but unlike the old stated income type loans prior to 2006, these new Stated Income Alt loan programs require that the borrower at least prove the “Ability To Repay The Loan”

The lenders that are offering these new Stated Income Alt loan programs don’t make their decision completely off the tax returns like 99% of other Banks do!

Income considered:
Assets for Income
Cash Flow from Bank Statements
Rental Property Income (okay if recently rented or underwater in many cases)
Expected Income from contracts and/or settlements
Note Receivables
Non- Occupant Co-Borrowers
and much more...

For a quick view of these programs go to: http://www.StatedIncomeAlt.com

Steve McRory

Pro Option Mortgage



Ph: 888 662 4404
2 votes Thank Flag Link Wed Aug 15, 2012
Flag Wed Aug 15, 2012
thank you! you'll be getting a phone call or email.
Flag Wed Aug 15, 2012
BTW- $50k down could allow you to buy up to $166k property

The max payment on that would be approx. $
0 votes Thank Flag Link Wed Aug 15, 2012
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