I am self-employed and need a no doc or no income verification loan. Who offers these in Tampa FL? Thanks.

Asked by Samantha, Tampa, FL Mon Apr 9, 2012

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Robert Krop, Agent, Frederick, MD
Sun Oct 12, 2014
Unfortunately, those don't exist any more.
0 votes
Margaret Has…, Agent, Tampa, FL
Sat Apr 14, 2012
Those kind of loans are a thing of the past.
0 votes
Caroline York, Agent, St Petersburg, FL
Thu Apr 12, 2012
Thanks for the info Steve McRory. I had a buyer recently and his mortgage lender told us that banks cannot be covered by the FDIC unless they have proof of existing income. Stated income was a thing of the past. Your information was helpful.
0 votes
Alma Kee, Agent, Tampa, FL
Wed Apr 11, 2012
Not likely... you might find a credit union willing to take the risk, though. Of course there are also loan sharks (hard money lenders) as long as you have 50% to put down and probably not for a condo. Expect to pay extremely high rates and fees on a Hard Money loan.

Here's a helpful website to learn about the mortgage process:

www. MtgProfessor.com

If you find a lender willing to do a "no doc" let us all know.

All the best,
Alma Kee
0 votes
Thanks, Mortgage Professor is a great website for learning more. I hadn't thought of hard money lenders as loan sharks but the rates are very high and only about 50% LTV.
Flag Thu Apr 12, 2012
Annette Law…, Agent, Palm Harbor, FL
Tue Apr 10, 2012
As Lauren suggested, New Penn Financial is an excellent place to start.

If you are NOT a USA citizen, you will find lenders much more liberal in providing mortgage financing.
Depending on the property for purchase Wells Fargo has some scary products that look a lot like the loans of 2006.

Another option is to work with a multi-dimensional real estate professional who can find buyers and investors who will finance.

The options available truly depend on your situation and the property (s) being considered.
Pick up the phone and give a real estate pro a call.

Annette Lawrence
ReMax Realtec Group
0 votes
Thanks. I' ll keep looking.
Flag Thu Apr 12, 2012
Lauren Rodri…, Agent, Tampa, FL
Mon Apr 9, 2012
Try Kevin Reeves at
New Penn Financial, LLC
0 votes
Thanks a lot! I'll call or e-mail him today.
Flag Mon Apr 9, 2012
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