Proof That EASY NON-DOCUMENT PROGRAM Is Exactly What You Are Looking ForNameless Soph
Honestly, our Easy Non-Document Program is the easiest and one of the most outstanding programs available on the mortgage market.
Why so? You don’t need to provide any documents, no taxes, no CPA letters. At LBC Mortgage, we also don’t require any proof of income and not disclosing your employment info as well. This means, with that type of loan, you will not be required to provide a lot of paperwork, like the docs mentioned above. Instead, you should simply provide a declaration that indicates you are able to repay the loan.
Who can apply for this type of loan?
Our Easy Non-Document loans are usually granted to borrowers who don’t have a regular income source, just like self-employed people or whose wealth stems from investments or unearned-income sources.
Also, those loans help investors who buy a stock in order to sell it for a quick profit (so-called house flippers) and landlords with multiple expense write-offs on their tax returns to buy investment properties without actually documenting their income.
Who needs non-documentation loans?
A Non-Documentation loan provides increased security and privacy when getting a mortgage. Quite some time ago, anyone was able to apply for this type of loan, but now this loan is more likely to meet self-employed borrowers’ needs. Non-Documentation loans are also available to those who need a low credit mortgage.
People that applying for Non-Documentation loans are usually those who wouldn’t like to have their financial history and entire life and presented to the lender. For example, they might be using inheritance to secure a loan or have varying incomes from owning their own business. They also may not qualify as a self-employed borrower if they had to do it based upon their net income on the tax returns.
Obviously, security is a significant factor, and we respect it. However, with a non-documentation loan, the borrower provides minimal information such as their name and social security number and information regarding the purchased property. So, here at LBC Mortgage, we will do the rest.
How to qualify for an Easy Non-Documentation loan at LBC Mortgage?
To qualify for a non-documentation mortgage program, you will be asked to:
- put a minimum 25% down payment
- show 3-6 months reserves. This means the lender wants to see that you have money in funds for 3-6 months to pay your mortgage after closing.
- show that your FICO is a minimum of 640
No worries if you got money for purchasing a property as a gift. You can easily qualify for this program because a 100% gift is allowed too.
Do you have any questions about this program? Still not sure if you can qualify?
Please feel comfortable trusting us to find the right mortgage program for you by giving us a call for a confidential discussion.
We can analyze your mortgage scenario and let you know your options without pulling your credit. This is simply to have an initial discussion to see if this mortgage is a good fit for you and get an idea of your interest rate.