Stated Income / Verified Assets (SIVA) – Including Owner-Occupied Properties

An incredible product for individuals who have too many write-offs on their tax returns to qualify for a Full-Doc Mortgage or just haven’t had long enough season at their current employment. This product eliminates the possibility of being denied a mortgage due to issues deriving from a borrower’s income.

No Income Verification Loans

Loans with no income verification mortgage loans are typically intended for self-employed individuals or independent contractors who may have difficulty proving their income through traditional means. These types of loans may also be suitable for people who have a steady income but don’t receive a regular paycheck, such as those who are paid in commission or through dividends.

There are a few different types of loans that may be available to people with no income verification mortgage loans:

Peer-to-peer loans: These loans are funded by individual investors rather than traditional financial institutions. Some peer-to-peer lending platforms may not require income verification but may consider other factors such as credit score and debt-to-income ratio when determining loan eligibility.

Personal loans: Some personal loan lenders may not require income verification but may consider other factors such as credit score and debt-to-income ratio when determining loan eligibility.

Mortgages: It may be possible to get a mortgage without income verification, but this is generally only possible if you have a large down payment or significant assets that can be used as collateral.

Why Choose Starr Mortgage’s No Income Verification Loan?

Our No Income Verification Loans offer a streamlined, flexible mortgage option that makes it easier for you to secure financing without the need to provide extensive documentation. Here’s why this loan might be the right fit for you:

• No Income Verification Required: Skip the hassle of submitting tax returns, pay stubs, and other traditional income verification documents.
• Flexible Property Types: Whether you’re purchasing a single-family home, a multi-unit property, or even a condo, our loans can cover a wide range of properties.
• Fast and Simple Application Process: With no income verification, the application process is simplified, allowing you to get approved faster and with less stress.
• Competitive Rates: While some no-income verification loans come with high interest rates, Starr Mortgage offers more competitive rates, making this a cost-effective option.
• Foreign National Friendly: With just a valid passport, foreign nationals can qualify for this loan, opening the door for international buyers.

How Do No Income Verification Loans Work?

No Income Verification Loans are designed to make it easier for individuals who have substantial assets but cannot provide traditional proof of income. Instead of focusing on your income, we focus on your assets and equity. This means you can still secure a loan based on your property’s value and your financial standing, without needing to prove your regular income.

Advantages of No Income Verification Loans vs. Traditional Loans

While traditional loans require you to submit extensive documentation to verify your income, our No Income Verification Loans eliminate this step. Additionally, traditional loans often have strict eligibility requirements based on credit scores, debt-to-income ratios, and income levels. Our loan program offers more flexibility and a simplified application process, making it easier for those with irregular income or significant assets to qualify.

Who Should Consider No Income Verification Loans?

No Income Verification Loans are particularly beneficial for:

• Self-Employed Individuals: If you’re a freelancer, business owner, or independent contractor, this loan allows you to secure financing without providing traditional income documentation.
• Foreign Nationals: If you’re a foreign national, all you need is a valid passport to qualify for our No Income Verification Loan.
• Real Estate Investors: No Income Verification Loans are an excellent option for investors looking to expand their portfolios without being bogged down by traditional lending processes.
• High Net-Worth Borrowers: If you have substantial assets but don’t have regular cash flow, this loan could be an ideal solution for financing your property.

How to Apply for Starr Mortgage’s No Income Verification Loan

Getting started is easy. To apply for Starr Mortgage’s No Income Verification Loan, you can:

• Request a free consultation with one of our mortgage experts.
• Fill out the application on our website for a fast and straightforward process.
• Provide the necessary documentation related to your assets, equity, and property details.

We’ll guide you through the process and help you understand your mortgage options. Whether you’re self-employed, a foreign national, or an investor, we’re here to help you secure the loan you need.

Be Careful of Predatory Lending Practices

It’s important to note that no income verification mortgage loans with no income verification may come with higher interest rates and less favorable terms than traditional loans. It’s also important to be cautious of lenders who claim to offer loans with no income verification but may actually be engaging in predatory lending practices. To avoid unscrupulous lenders, watch for extremely high fees or interest rates or for lenders who change the loan terms between the initial offer and the contract’s signing.

Contact Starr Mortgage Today

Ready to get started with your No Income Verification Loan? Contact us today for a free consultation and discover how Starr Mortgage can help you achieve your homeownership goals.

Call us at 845-348-3172 to get personalized advice and learn more about our flexible loan options.