Florida No Income Verification Mortgage Lenders

NO INCOME VERIFICATION FLORIDA MORTGAGE LENDERS

Whether buying or refinancing, flipping or renting Florida property, we've designed our no income verification home loans to help you maximize your investment opportunities.

Florida No Tax Returns

Max Loan Amount	Min Down		Credit Score	Reserves
$2,000,000	15%		600	6 Month

No income or Stated Mortgage loans are approved self-employed borrowers that can verify bank deposits via bank statements.

Florida Bank Statement Only Mortgage Lenders Program Details
Property Type:	Single Family, Townhouses, Condominiums
Assets:	2 Month Bank Statements Gift funds allowed

Credit Score:	Minimum 600

FLORIDA NO INCOME FLORIDA MORTGAGE ADVANTAGES

No income verification
No debt-to-income calculations
No minimum credit score
Credit score only used to determine tiers
Close in as little as two weeks

www.Florida-Mortgage-Lenders.com

Florida No Income Verifcation Investor Loans 6 month I/O 10 Due-in-3 15 Due-in-3
Purchase Cash-out Refi Purchase Cash-out Refi Purchase Cash-out Refi Florida Real Estate
Terms include: 6 months 36 months 36 months
Amortization Interest-Only 120 months 180 months
Tier 1 Rate, Points* 13%, 4 points 14%, 4 points 14%, 4 points
Tier 2 Rate, Points 14%, 5 points 15%, 5 points 15%, 5 points
Tier 3 Rate, Points 15%, 6 points 18%, 6 points 18%, 6 points
LTV 65% 50% 65% 50% 65% 50%
Min. Property Value $30K $36K $50K $80K
Property Condition C1-C5 C1-C4 C1-C4
Investment Purpose Flip Flip or rent Rent only
Prepayment Penalty No No Yes

FLORIDA NO INCOME VERIFICATION LOAN CHECKLIST

WHAT WE NEED

Driver's License
Property Address
Insurance Policy
Closing Fee
Credit Score

WHAT WE DON'T NEED

Pay Stubs
Tax Returns
W-2s
K-1s
1099s
Bank Statements
Investment History
Business Plans
Property Inspection
Full Credit Report

Flipping a Florida property? Our short-term interest-only loan lets you keep cash available for improvements and other opportunities. Renting out a Florida home? Our 10-year and 15-year loans keep your no income verification mortgage payments low. Florida No income verification lenders providing loans for home investors. As always, we lend our no income verification loans based primarily on the Florida home value, which means a fast, simple, dependable process:

And with loans up to $300,000 and a wide variety of terms, we can help you reach all of your investment goals.

No Muss, No Fuss Loans. Unlike other Florida no income verification lenders, we focus on the value of

the Florida home. Our no income loans provide Florida homebuyers with a fast and easy approval process. Simply complete an application, provide an appraisal and clear title, and we’re ready to roll. As always, our customers never have to worry about stacks of paperwork and time-consuming personal verifications, which means:

1.No income verification
2.No debt-to-income calculations
3.Close in as little as two

If you have unverifiable income generating from substantial savings the no income verification loan might be best Florida mortgage you can use to purchase real estate. A No Doc or No income verification Florida loan is not for everyone, if you fit the loan parameters, it can be a great tool for buying real estate.

What is a no income verification asset based loan? This loan is called an asset-based loan or asset depletion loan. Essentially the no income verification loan takes your assets and spreads them over 360 months (or less in some cases) to create your monthly income.

Who can benefit the most from this type of Florida no income verification home loan Those who are retired (or close to it) with a liquid high net-worth.

What kinds of assets qualify for a no income verification home loan? No income verification loans largely depend on your goal. If you are purchasing a primary single family home and plan on using assets from your 401k then Freddie Mac or Fannie Mae will suit you well. If, however, your assets are more complicated and you would like to utilize the program to purchase Florida investment property then a portfolio lender will be a better fit.

NO INCOME FLORIDA MORTGAGE VERIFICATIN GUIDELINES- Whoever is listed on the asset account must be on the mortgage.

The assets you are using must be liquid, available to you with no penalty and a direct result of employment-related savings (i.e., retirement savings):

Retirement accounts such as 401(k), IRA, SEP, KEOGH account; any account recognized by the IRS.
Stocks
Bonds
Mutual Funds
Non-self-employed severance package.
Non-self-employed lump sum retirement.

The Fannie Facts:

Down Payment Required: 30%
Minimum Credit Score: 620
Loan Purpose: Purchase or No Cash-Out Refinance
Type of Home: Primary Residence or Second Home
Acceptable Property Type: 1-4 Units

General Freddie Mac Asset Guides

Whomever is listed on the asset account, must be on the mortgage.

The assets you are using must be liquid, available to you with no penalty and a direct result of employment-related savings (i.e., retirement savings):

Retirement accounts such as 401(k), IRA, SEP, KEOGH account; any account recognized by the IRS.
Lump-sum monies received (the original source any lump-sum must be employment-related).
Assets from the sale of a business.

Acceptable Florida Assets Include:

Cash Equivalents

Self-Employed Income
Retirement (must be of retirement age)
CDs
Savings
Money Market Accounts
Public Stocks
Bonds
Mutual Funds
Trust Funds
Lotto Winnings
Lawsuit Settlements
Other Complex Asset Portfolios