Home Buying in Chicago>Question Details

malysa1984, Home Buyer in 60630

Looking to buy a property for a MAX160K with a downpayment of 40% and a 760 credit. Is it possible to get a loan without checking my taxes/earnings?

Asked by malysa1984, 60630 Sun Jan 26, 2014

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Answers

18
Unfortunately not. Everything has to be verified and monies sourced.
1 vote Thank Flag Link Sun Jan 26, 2014
If you get a positive answer, you must check deeply. ask for the MNLS number Name of the Company and just in case do not pay any money upfront
0 votes Thank Flag Link Tue Jan 28, 2014
We offer a bank statement program that does not require pay stubs or tax returns. Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Bart and I have been in the mortgage business since 1987. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you.



Bart Gabe - Lending Nationwide Since 1987

http://www.bartprequalifies.com

bart@bartprequalifies.com

800 315 8803

NMLS 20743
0 votes Thank Flag Link Tue Jan 28, 2014
Bart what is the name of your Mortgage company
Flag Tue Jan 28, 2014
A few years ago all you needed to obtain financing was a pulse. If your goal is to find a traditional loan then you must be able to prove your CREDIT, ASSETS, and INCOME. Else, a hard money lender may lend to you. Should you need any assistance, feel free to contact me.
Web Reference: http://www.BJDLOANS.com
0 votes Thank Flag Link Tue Jan 28, 2014
All earnings must be verifiable. In today's market no stated income loans anymore.
0 votes Thank Flag Link Mon Jan 27, 2014
Hello,

Good question.

Conventional and government insured loans do require income and asset verification in 2014. However, going through the purchase pre-qualifcation process as a first step will allow you to determine what financing options are available to you. With that large of a down payment adding a co-signer may allow you to qualify for the property you're looking for in the event you do not qualify on your own.

I'm always here to help.

Thanks,
Andrew
773-456-9662
aluett@wintrustmortgage.com
0 votes Thank Flag Link Mon Jan 27, 2014
You can find this depending on your area. Can you find it without checking that to get a loan: no.
Web Reference: http://Americorpre.com
0 votes Thank Flag Link Mon Jan 27, 2014
Depending on where you are looking, you can find properties that are listed around $160,000. With that kind of credit score, you should have no problem getting a mortgage. I can refer you to many different lenders.
0 votes Thank Flag Link Mon Jan 27, 2014
My web site has some lender references so give them a call and see. You should be ok.
0 votes Thank Flag Link Mon Jan 27, 2014
Malysa,

On a $96,000 loan amount, your Principal and Interest payment is only going to be about $500 per month, so, assuming that you don't have a lot of debt on your credit report (and with a 760 score, you probably don't) , you're really not going to have to prove that much income.

Even if we added $400 per month for taxes and insurance, you could be approved as long as you've averaged $25,000 per year for the least two years.

It would cost you nothing to have me take a look at your complete financial situation. Please feel free to contact me tomorrow.

Matt Bukovy
Senior Mortgage Consultant
Blueleaf Lending (a div. of Midwest Community Bank)
773-416-7107
mbukovy@blueleaflending.com
0 votes Thank Flag Link Sun Jan 26, 2014
Not possible. ...they need to see the income ....
0 votes Thank Flag Link Sun Jan 26, 2014
This isn't 10 years ago when the banks would have given my cat a loan. Ok, I am exageratting , they would have given him a second mortgage. You should really be talking to a good mortgage broker. That would be in your best interest.
0 votes Thank Flag Link Sun Jan 26, 2014
email me at jmichaels@remax.net for a good contact for you
0 votes Thank Flag Link Sun Jan 26, 2014
That is not possible. It must be checked.
0 votes Thank Flag Link Sun Jan 26, 2014
Sorry, Taxes, Income must be verify.
0 votes Thank Flag Link Sun Jan 26, 2014
Not possible. Any and all lenders will be required to verify your income and your ability to repay the loan.
0 votes Thank Flag Link Sun Jan 26, 2014
Hi..
Unfortunately not. Your income and assets will have to be fully verified. If I can answer any other questions, please contact me at any time.
Thanks and stay warm!

JP Marzano
1st Advantage Mortgage
NMLS # 574681
312-608-1555 - M
jp.marzano@1amllc.com
0 votes Thank Flag Link Sun Jan 26, 2014
No, stated income/no doc loans are a thing of the past.

When you want to buy a home the best place to start is to hire an Exclusive Buyer Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position. Visit http://www.naeba.org for a referral to an Exclusive Buyer's Agent in your area.

I've written a best selling book called Buying a Home: Don't Let Them Make a Monkey Out of You. It'll teach you how to buy a home without getting ripped off. Follow the link below.

Best of luck!

Alysse Musgrave
214-734-3863
Alysse@HelpUBuyAmerica.com
http://www.helpubuyamerica.com
0 votes Thank Flag Link Sun Jan 26, 2014
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