The no income no asset loan is really a unique hybrid of a stated income and no ratio loan. Also known as a NINA mortgage, this program is best suited for a borrower who wants to get a mortgage loan without verifying his income or assets.
However, there is a type of loan that doesn’t require any of this paperwork – the no-income-no-asset loan, or NINA. Popular before the financial crisis, this type of loan largely disappeared for the past decade as mortgage rules tightened. But for the first time since the housing bubble burst, NINA loans are now making a comeback.
Even though the stated income loan is a SIVA loan (Stared Income Verified Assets), in some cases, qualifying criteria may be considered No Income/No Asset. (NINA) . Each stated income loans borrower is looked at individually and case by case.
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NINA loans are making a comeback and are now available through certain lenders. NINA stands for No Income No Asset verification and the NINA loan has been popular with small business owners before the lending industry went through its most recent financial crisis.
No Doc Mortgage 2019 What Are Stated Income Mortgage Loans? A "Stated Income Loan" is a loan program that does not require borrowers to document their source of income with pay stubs, 1099s, or 1040 tax returns to the lender although they declare it on their application.. borrowers simply state their income on the loan application and underwriters will review the file based on the borrower’s credit score, assets.
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– No Income No Asset Home Loan. Back to Menu. The "NINA" a/k/a/ No Income No Asset home loan program is a fixed or adjustable rate mortgage loan program designed specifically for those borrowers with a strong credit base and a demonstrated ability to make mortgage & rent payments on a timely basis.
40 Year Mortgage Lenders 2019 The rate on 15-year fixed-rate loans declined to 4.21% from 4.25% the previous week. The fall in mortgage rates "is a welcome relief to prospective. and the dow average finished only 79.40 points.Stated Income Home Loans Texas Factoring your debt-to-income ratio is a critical step to qualifying for any mortgage program. This debt-to-income ratio calculator is designed to help you understand what you need to do in order to qualify and close on a mortgage loan.Stated Income Mortgage 2019 Non Fannie Mae Lenders Fannie Mae | Home – Fannie Mae serves the people who house America. We are a leading source of financing for mortgage lenders and our financing makes sustainable homeownership and workforce rental housing a reality for millions of Americans.First Community Mortgage texas legacy bank and Trust | Trusted Banking Since 1907 – Since Legacy Bank and Trust opened in 1907, it has been committed to providing the best in banking for citizens looking for a trusted local partner.Contact – Stated Income & Hard Money Lending 2019 I Stated. – Stated Income & Hard Money Lending 2019 I Stated Income Mortgages I Hard Money Lending I SIVA I SISA I Jason McConnell I TLA Bancorp. Welcome to the Unconventional. The relationship must be for the life of the loan and include an ACH for the payment. Please inquire about 15-year amortization.
With the passing of the Frank-Dodd Act of 2010, stated income loans for owner-occupied properties are now illegal. Lenders must fully document a borrower’s ability to repay the loan either with income or assets. (Stated income loans still exist for real estate investors, however, because they aren’t purchasing an owner-occupied home.)