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longislemom
LIF Adult
Member since 8/06 912 total posts
Name:
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No income verification, no docs required mortgage?
Does anyone know of such a mortgage or company that they have worked with? That does not require any W2s, income verification, tax returns, nor credit check. Just social sec.# and bank statements. I googled but none seem legit.
Thanks.
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Posted 11/7/21 12:45 PM  |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19458 total posts
Name:
L
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Re: No income verification, no docs required mortgage?
Pretty sure after the 2008 fiasco this was made illegal there are NINA loans but they have a lot of steps. https://www.lendingtree.com/home/mortgage/do-no-income-verification-mortgages-still-exist/
Message edited 11/7/2021 1:33:47 PM.
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| Posted 11/7/21 1:31 PM |
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longislemom
LIF Adult
Member since 8/06 912 total posts
Name:
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No income verification, no docs required mortgage?
Thanks. I don't even know what the 2008 fiasco is. I gotta read up on that. LOL.. and I will look what nina loans are and at the link.
Thanks.
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| Posted 11/7/21 4:15 PM |
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Deeluvsvinny
DONE
Member since 10/08 4952 total posts
Name:
Whatever
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Re: No income verification, no docs required mortgage?
Posted by longislemom
Thanks. I don't even know what the 2008 fiasco is. I gotta read up on that. LOL.. and I will look what nina loans are and at the link.
Thanks.
the housing market crashed in 2008- due to subprime loans and people who were given loans they could not afford (variable rate, 106% financing, principal only).
NINA (no income no asset) loans don't really exist anymore. You may have luck going through a mortgage broker who has access to other types of programs...nothing that will be a true NINA loan, but there might be something that qualifies on asset dissipation or a special income calculation based on tax returns. It's very complicated and very hard to qualify for.
If the issue is income- a co-signor might help. If the issue is credit- many banks work with credit repair companies- its expensive and can take a while, but they can usually get you to a qualifying score.
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| Posted 11/8/21 8:44 AM |
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ali120206
2 Boys
Member since 7/06 17792 total posts
Name:
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No income verification, no docs required mortgage?
Basically they loaned people more money than they were able to afford, fed raised rates, house prices went up, variable rate mortgage payments increased, houses went into foreclosure, banks went under, etc.
Since then - we've refinanced - and had to provide a lot more documentation than we did when we purchased our house in 2007.
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| Posted 11/8/21 8:45 AM |
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longislemom
LIF Adult
Member since 8/06 912 total posts
Name:
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No income verification, no docs required mortgage?
Ahh.got it. Thanks everyone.
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| Posted 1/1/02 11:41 AM |
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