No Doc No Income Verification Mortgage California

California No Doc Mortgages & No Income Verification Home Loans

California no income verification mortgages, also called California no-doc mortgages, used to be more commonplace before the real estate housing crisis in 2008. With more restrictions in place in terms of how money is lent, particularly in the real estate world, it has become more of a challenge to get a no doc loan, however it is still possible when you work with the right lender.

Who Can Qualify for a No Doc Mortgage in California?

A no doc mortgage in California is generally for those who are self-employed and have a more complex income that doesn’t put you into the neat category of income requirements needed to get a traditional loan. However there are several benefits to a no income verification mortgage, including less paperwork, and the ability to close on a home faster than with a loan that requires extensive documentation. In addition, owing to the real estate crisis of 2008, today’s no doc mortgage in Los Angeles, California has more consumer protection than ever, giving you peace of mind as you secure financing for your home.

What Types of Loans are Considered No Doc Loans?

No documentation mortgages used to be called “stated income loans” and were great for the self-employed, those who worked on commission and similar types of work. Stated income loans are no longer available, however, these days, there are a variety of similar types of loans including:

SISA: SISA stands for Stated Income Stated Asset and these loans are made without needing to verify the borrower’s income or assets.

SIVA: Stated Income, Verified Assets: These types of loans are also known as bank statement loans and accept the value of your assets in lieu of a specific income declaration. A similar version to this is the NIVA, which stands for No Income, Verified Assets, where income isn’t factored into the equation.

And finally there’s NINA, No Income, No Asset loans. These rare loans are only available for those who invest in real estate rental properties and although they don’t require a stated income, they do require rental income that meets or exceeds the new mortgage payment.

Client Reviews

Vassiliy P
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It's been a treat working with such knowledgeable and caring staff. Always reachable getting back to you with answers you need quick to make these life...
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It was a pleasure working with Alex Shekhtman and his team on another loan. They made it easy and painless. Very professional and efficient. I would gladly...
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Anna G.
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LBC Team went above and beyond to help us buy our new home! They were available for all of our questions, were prompt in their replies to us, and guided us...
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Excellent team of great professionals! Superb customer service! They have successfully handled our purchase and refinance in a very short period of time,...
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Elina L.
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It is hard to describe how scary we were when decided to buy a house. We had no knowledge of the processing, prices, policies, calculations… When our agent referred us to Alex Shekhtam, from the first phone consultation we felt to be just in right hands. We are so blessed to have LBC Mortgage team! Our first house was purchased just because of these hardworking, reliable, efficient, responsive professionals! Recently we were able to refinance our house on good conditions, again, just because of them! Easy processing paperwork, knowledgeable advisors, pleasant communication make you feel special. We are so grateful to all and everyone from LBC Mortgage for making our dreams true!!!!
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LBC Team is now our Number One Team! Their service was impeccable! We really appreciated the detailed explanations and daily reminders throughout the whole...
Galina S.
Galina S.
13:34 29 Mar 21
Alex and his team were very attentive to our needs. We had some very specific criteria when looking for a home, and most mortgage companies, especially banks, were not even willing to listen to us -- but the team at LBC Mortgage was. They kept everything moving and were happy to answer our questions. We never felt like a burden to them, and that’s how customer service should be.
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Kaylani paliotta
05:51 25 Mar 21
If you are shopping online for mortgage or refinance, look no further. Seamless process and good communication. I am pleased with their fast response. They kept me updated with each phase of a process. Thank you LBC Mortgage.
Christiane BABINOT
Christiane BABINOT
07:40 03 Mar 21
I work in construction, so I was used to going to the banks for a loan and being told “no” over and over again. I decided to see if I could bypass the process. I’d heard a lot of good things about this company but I didn’t realize how dedicated they were to helping me until I got to know them myself. They looked at all of my information and got me a great deal for my next project. I know who I’ll be using for all of my home loan needs from this point forward.
Jules Bonchamps
Jules Bonchamps
07:28 16 Feb 21
I’m a real estate broker myself and I consistently rely on LBC Mortgage to get me the best deals. I always know that I can count on Alex Shektman and his team to come through for me when I need them and I even use them myself! No better testimonial to their services than that!
Shane Watson
Shane Watson
04:54 12 Feb 21
I would like to express my gratitude to the LBC Mortage team and personally to Alexander Shekhtman. I turned to Alexander about buying a home: Alexander and his team supervised the whole process very professionally. Personally, in working with LBC Mortgage i liked the punctuality, delicacy and professionalism - any question, any incomprehensible place, was immediately explained and covered. I wish success and good luck to the Agency and its employees in their future work!
Marat Shaimardanov
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The services were provided at the highest level. They worried about us and delivered information as many times as necessary so that we would all understand) And also a huge plus of this company that I do not really speak English, so I received all the information in Russian, since most of the employees know Russian. I recommend this company
Roman Trach
Roman Trach
12:59 22 Dec 20
We have worked with Alex and his company for many many years and were never disappointed. Just recently they worked on refinancing for our home and again the result exceeded all of our expectations. The team is very professional, on point, makes sure you as a customer, are aware of every step along the way. Everyone is always very helpful and courteous. It was a pleasure to work with Alex and his team again. Thank you!
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Alla Krishtall
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It’s my second time in 10 years enjoy excellent, very reliable and fast service , strongly recommended to everyone, no hustles and desirable result !!And by the case very professional and friendly stuff !!!
Luna Lovegood
Luna Lovegood
22:36 25 Aug 20

How Do I Get a California No Doc Mortgage Loan?

There are several ways to go about getting a no income verification mortgage in California. For example, you may be able to use your bank statements as a way to estimate how much you qualify for when it comes to getting a home loan. You may also want to look into an asset-based mortgage, known as an asset depletion loan, where you’re qualified for a home loan based on the value of your liquid assets.

To learn more and to see if you qualify, it’s a good idea to work with a professional lender like the experts at LBC Mortgage. Our extensive experience working with non-traditional loans, including asset depletion loans, ITIN loans, 80-10-10 and more allow us the maximum amount of flexibility to help you get approved even if banks or other lenders say no. We’ve helped thousands of residents across Los Angeles and California statewide area to be able to afford a home when banks refused or moved too slowly on their application.

Plus, we’ll take the time to answer any questions you may have as well as explain the process to you every step of the way. If your income situation is tricky and you’re having difficulty getting banks to act quickly on your application, it’s worth getting to know the lenders at LBC Mortgage. We work with an expansive network that understands that in today’s world, traditional mortgages are becoming less and less common. We invite you to reach out to us and learn more about our process and our unrivaled determination to help you get financed easily!

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