Loans in the US have been simplified a lot on today’s date, and now the citizens who do not have a particular proof of income or are retired, can get approval for investment property loans. The concept is quite systematic and nice, you can get a loan to buy investment property without having to show any proof of income.
What Is The Investment Property Loan Scheme?
Loan for investment propertyis for the individuals who have no proof of income due to the following reasons:
- Being self employed you don’t have a salary slip
- Being a new entrepreneur where you didn’t get chance to file income tax return
- Being a retired person
In all such cases, where you don’t have a fixed income, or have trouble proving it and won’t want to go through the hassle of paperwork and processing etc, you can always get a stated income home loan. You will not be required to produce:
- Any proof of income
- Income tax return file papers
- Bank statements
The Requirement To Get A No-Verification Stated Income Mortgage
All you will have to have is:
- Arrange down payment of 20-30% of the loan amount. Here again gift funds are accepted which can be 10% of the down payment amount, thus adding to more flexibility of the process.
- Have a FICO score or credit rating of 600 only
- Apply for a minimum loan amount of $125000
With this easy no verification stated income loan system, where the income you state by the word of mouth is deemed final and accepted, it gets real easy when you want to invest in a property with stated income loans.
The Simplicity In Process
Once you apply for the investment property loan, the loan can be preapproval approved within 5 minutes and the processing is started. You then just have to wait for 72 hours to get the loan sanctioned, and within 30 days of the loan application your money is with you.
Get that dream property you wanted to invest on, or get a refinance for the already mortgaged property with easy terms and easy processing. The biggest advantage is the quick processing without lengthy paper work, which makes this easy for the self employed and business owners as well as retired persons.
Where To Apply
As you can see that the loan processing is really simple and quick, you would also come to know that this has been streamlined with more effort and systematic working by financing companies like QKMortgage.com. I would personally say that they have been doing a great job since years, and brought smiles to many by providing easy investment properties loans, and now it’s your turn to get benefitted.