No income check loans are ideal for those who have income that are difficult to document. The home buyers we have helped with this No Income Verification home loan have careers where the compensations consist of mostly cash tips, and small businsess owners. Street vendors, self employed professionals, business owners have incomes that are closely tied to their businesses and can be a nightmare to document. Cash tips earners such as waitors, bell hops, doormen, and taxicab drivers usually have difficulty proving their incomes and can often benefit from No Income Verification loan program.

In the current tightened credit environment, we are offering two No Income Verification loan programs. The first has interest rates that are about the same as that of a Full Documentation program, but costs an additional 2 points, or 2% of the loan amount. Freddie Mac publishes a weekly survey of the "full doc" interest rate, which can be found on the Freddie Mac website and on the lower left hand corner of our homepage. Visit our homepage and see what the recent average interest rates are. This No Income Check loan only lends for the purpose of purchasing a home. It lends up to 75% of the value, or with 25% down payment.

This No Income Verification mortgage program has certain restrictions. First and foremost, the borrower(s) must have good credit histories, with seasoned credit accounts in good standing. Secondly, although the applicant's stated income is not verified, it must be reasonable for the type of job he holds. In addition, the loan applicant cannot be self-employed, and his employment will be verified with the employer either verbally or in writing. The employer's business information, such as phone number and business registration, will also be verified through various sources. The applicant's funds used for down payment and necessary closing costs will be verified through the financial institution where the funds are held. In most cases, monthly bank statements showing the necessary funds will suffice. This No Income Check program is restricted to owner occupied, residential single family homes, duplex, condominiums, and coops. No multi family and commercial properties will be allowed.