No Doc Mortgage Florida

Real estate investors and home buyers are eagerly seeking an alternative income verification to acquire real estate in today’s market. Florida has been one of the most prevalent states for no doc loans for decades and especially in the last 10 years. Many out of state home buyers and real estate investors have been using no income verification loans to buy their vacation homes and retirement homes.

Most consumers arean’t aware that the Sunshine State Florida took over the number three spot for the most populated state in 2014 knocking out the empire state from the top 3. This is mostly due to snow birds, retires and investors.

Our clients love our no documentation loans because they can close within 14 – 21 days and often it’s a blank income application. To find out more information and what your rate and terms will be just click on the link below:

No Income Verification up to 2 Million

Investment Property Loans

Qualifying Guidelines

80% Loan-to-Value with 680+ FICO Score Up to $2,000,000

Get A Rate Quote

No Ratio Loans

Owner Occupied No Income/Employment Stated

Qualifying Guidelines

75% Loan-to -Value with 680 FICO Score No Income Verification Loan

Get A Rate Quote

Stated Income Loans Up to 3 Million

Owner Occupied Property Loans Lite Doc

Qualifying Guidelines

80% Loan-to-Value With a 660 FICO Score With Borrower Prepared P&L

Get A Rate Quote

Jacksonville
Miami
Tampa
Orlando
St. Petersburg
Hialeah
Port St. Lucie
Cape Coral
Tallahassee
Fort Lauderdale
Hollywood
Gainesville
Palm Bay
Clearwater
Lakeland
West Palm Beach
Pompano Beach
Boca Raton

Fort Myers
Riverview
Sunrise
Deltona
Miami Beach
Melbourne
Deerfield Beach
Boynton Beach
The Villages
Kissimmee
Daytona Beach
Delray Beach
Poinciana
Jupiter
Pensacola,
Winter Park
Winter Haven
Vero Beach

No Income Verification With Asset Verification

Down Payment & Earnest Money Deposits

One month full bank statement over a 30 days
Cumulative or Single Deposits $9,999.00 or less in a statement period doesn’t require sourcing or explanation
Business Funds allowed with Accountant letter confirming no negative impact
For Cash-Out Refinances the loan proceeds may be applied towards the reserve requirements
Easy Qualifying Rates

Gifts & Bank To Bank Transfers

Down Payment, Closing Costs, and Reserves can be 100% Gifted
Fully executed Gift Letter, proof of deposit into borrower’s bank account, and source of gift
Donor’s Canceled Check
Wire Confirmation
Bank or Certified Check with Donor’s Name as Remitter
Bank to Bank Transfers deposits clearly indicating that they came from another depository instiution titled to borrower do not require sourcing or explanation

Down Payment/Earnest Money Deposits/Reserves

Copy of Canceled Check from Borrower’s account or Wire Confirmation – no bank statement evidencing withdrawal required
Bank or Certified Check would require bank statement evidencing withdrawal
Less or Equal to $500,000 requires 3 Months PITIA
$500,001 – $1,500,000 requires 6 Months PITIA
$1,500,001 or Greater requires 12 Months PITIA

Who Benefits from No Doc Loans

Over the years borrowers have had some challenges of acquiring home ownership from tradition mortgage guidelines but we have a portfolio of programs to help many borrowers who fall outside the traditional guidelines and they have come from all walks of life such as:

Self- Employed borrower who don’t have a full year or self-employment or the traditional 2 years
Retired Seniors who don’t have a job
Families that pool money together to buy their home
Borrowers with inconsistent employment history
1099 workers or Independent Contractors

At Loan Trust our programs for our no income verification requires less documentation and it closes much faster. We believe if a borrower has very good credit and a history of paying their bills on time and has demonstrated the ability to repay debts on time and has the ability to put the down payment towards the asset, then we believe they are a good applicant for due their credit profile without having to verify income in most cases.