getting a loan with no income

I recently financed a car through Penfed and they didn’t require any income verification, it was a 20k loan on a 57k car so that might have been a factor also. I know that once your in the 700’s chances are very low that you will need to provide any income verification for a car loan.

fha 2016 loan limits FHA Loan Limits for Alameda & Contra Costa County, 2016. –  · Update: Loan limits will go up in 2017. FHA loan limits for Alameda County and Contra Costa County remain unchanged for 2016. They were carried over from 2015 with no changes, because the Department of Housing and Urban Development (HUD) felt that home prices in these counties did not rise enough from year to year to warrant higher loan limits.

It required a 20% down payment and documented assets, but no income or tax returns. The formula for computing the eligible loan amount was based on 60% of retirement assets (if you’re below age 59-) plus 70% of non-retirement assets. It then computed a monthly income assuming 2% growth and 360 payments (30 years).

This is because they have specialized skills, domain knowledge and, most importantly, a steady income source. In the case of start-ups with no profits to show, there are challenges getting a home.

No Income Verification Mortgage Loan Programs Available. Find Nationwide lenders that specialize in no income refinancing, no doc mortgages and stated income home loans. Many self-employed clients choose the no income loan options for home refinancing and house flipping loans.

what you need to qualify for a fha loan What Is an FHA Loan? | GOBankingRates –  · Despite the terms “FHA loan” and “FHA mortgage,” the FHA does not make mortgage loans. Instead, when you apply for and secure your mortgage from an FHA-approved lender, the FHA provides mortgage insurance to the lender as a safety net in the event that you default on your loan. Here’s everything you need to know about getting an FHA loan.

A great way to enjoy more income in retirement is not to be sending off payments on loans you’re carrying. You definitely need to pay off any high-interest-rate debt you have, such as from credit.

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No income equates to no ability to repay the home equity loan. You will be hard-pressed to get a home equity loan with no income at all. To get a home equity loan, you’ll need to prove you have enough income coming in each month to pay all of your existing debts, plus the new debt you’ll be taking on with this loan.

Most lenders across the continental United States require that borrowers provide income documentation to qualify for a mortgage loan and do not offer no income verification mortgages no matter what the transaction is, whether it is a purchase or a refinance. We have the no income check program that does not require any income documentation at all.

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Even if you don’t have a job, you can still get a loan. Lenders will still consider you for a loan when you are unemployed; being approved will depend on whether you prove that you can make regular payments on time. Learn more today.

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