No Income Verification Loans

Another mortgage option for self employed buyers are no income verification loans. This differs from bank statement loans in that you are not providing anything other than proof that you have the down payment funds.

 

Here are some of the key elements of a no income verification loan:

  • You can be self employed or salaried

  • Full two year job or self employment history is required

  • The down payment requirement will be a minimum of 20%-35%

  • Full two year job or self employment history is required

  • Available in both fixed and adjustable term loans

  • Interest rates will likely be higher than that of a bank statement loan

 

This program is much more flexible than a bank statement loan, but the rates will be a bit higher. Guidelines for a program like this may change often. Your Arcstone Financial Loan expert will advise which option is best for you, if you are self-employed.

OPTIONS.png
lo VOE ONLY FHA LOANS new phone number.p
ArcStone Financial logo reduced sa.png

BRE #1468445, NMLS #344236

BRE #1468445, NMLS #344236

(1) Disclosures

No Tax Return loans and foreign national loan products require other forms of income documentation and asset verification in lieu of tax returns. Not all applicants will qualify. Some products we offer may have a higher interest rate, more points or more fees than other products requiring more extensive or different documentation. Minimum FICO, reserve, and other requirements apply. Contact your loan officer for additional program guidelines, restrictions, and eligibility requirements. Rates, points, APRs and programs are subject to change without notice. Loan to values (LTV) are based on appraised value. Actual closing times will vary based on borrower qualifications and loan terms. All loans are subject to credit approval.  With an interest-only mortgage payment, you will not pay down the loan's principal balance during the interest-only period. Once the interest-only period ends, your payments will increase to pay back the principal and interest. Rates are subject to increase over the life of the loan. Contact your Arcstone Financial Inc. loan officer to determine what your payments might be once the interest-only period ends. With an adjustable rate mortgage (ARM), once the fixed rate period ends, the loan payment will adjust after an initial period and then adjust on a regular basis as set forth in the loan documents. For example, a “3/1” loan will have an interest adjustment 3 years after the loan closes and every 12 months thereafter. Also, the loan will be subject to annual and lifetime adjustment caps. Contact your Arcstone Mortgage loan officer to determine what your payments might be once the fixed rate period of the loan ends.  Arcstone Financial, Inc., is a real estate broker licensed by the CA Bureau of Real Estate, BRE #1468445, NMLS #344236

No Tax Return loans and foreign national loan products require other forms of income documentation and asset verification in lieu of tax returns. Not all applicants will qualify. Some products we offer may have a higher interest rate, more points or more fees than other products requiring more extensive or different documentation. Minimum FICO, reserve, and other requirements apply. Contact your loan officer for additional program guidelines, restrictions, and eligibility requirements. Rates, points, APRs and programs are subject to change without notice. Loan to values (LTV) are based on appraised value. Actual closing times will vary based on borrower qualifications and loan terms. All loans are subject to credit approval.  With an interest-only mortgage payment, you will not pay down the loan's principal balance during the interest-only period. Once the interest-only period ends, your payments will increase to pay back the principal and interest. Rates are subject to increase over the life of the loan. Contact your Arcstone Financial Inc. loan officer to determine what your payments might be once the interest-only period ends. With an adjustable rate mortgage (ARM), once the fixed rate period ends, the loan payment will adjust after an initial period and then adjust on a regular basis as set forth in the loan documents. For example, a “3/1” loan will have an interest adjustment 3 years after the loan closes and every 12 months thereafter. Also, the loan will be subject to annual and lifetime adjustment caps. Contact your Arcstone Mortgage loan officer to determine what your payments might be once the fixed rate period of the loan ends.  Arcstone Financial, Inc., is a real estate broker licensed by the CA Bureau of Real Estate, BRE #1468445, NMLS #344236

Minimum FICO, reserve, and other requirements apply. Contact your loan officer for additional program guidelines, restrictions, and eligibility requirements. Rates, points, APRs and programs are subject to change without notice. Actual closing times will vary based on borrower qualifications and loan terms. All loans are subject to credit approval.  “Loan to Cost” (LTC) is defined as the acquisition price of the property plus the cost to build as determined by a bank appraisal. Contact your loan officer for additional program guidelines, restrictions, and eligibility requirements.  With an interest-only mortgage payment, you will not pay down the loan's principal balance during the interest-only period. Once the interest-only period ends, your payments will increase to pay back the principal and interest. Rates are subject to increase over the life of the loan. Contact your Arcstone Financial, Inc. loan officer to determine what your payments might be once the interest-only period ends.  With an adjustable rate mortgage (ARM), the loan payment will adjust after an initial period and then adjust on a regular basis as set forth in the loan documents. For example, a “3/1” loan will have an interest adjustment 3 years after the loan closes and every 12 months thereafter. Also, the loan will be subject to annual and lifetime adjustment caps. Contact your Arcstone Financial, Inc. loan officer to determine what your payments might be once the fixed rate period of the loan ends.  Arcstone Finanical Inc., is a real estate broker licensed by the CA Bureau of Real Estate, BRE #01969620, NMLS #1277691.

(2) Disclosures