We pair homeowners with lending companies that offer stated income second mortgages with no income verification mortgage loans for self-employed and salaried borrowers searching for cash out lending online. Our system can match you with lenders offering great mortgage programs with less documentation required. No income loans are available to borrowers through bank statement and stated income programs.
1 Second Mortgage Inc. will help you find a loan that requires less paperwork and less income verifying that often hinders the loan process. We will help secure lending advice so you can see if you qualify to access cash quickly so you can go back to your business. Stop wondering if you qualify for a no verification loan and talk directly with mortgage companies that still offer secured loans with reduced documentation.
Statistics that say housing prices have continued to rise modestly or have fallen only slightly are deceiving, say some real estate analysts, because the stats don't reflect houses that sit on the market for months because their owners refuse lowball offers. Interest rates are beginning to drop again, and refinance loan applications have started to increase as a result. The reduced interest rates could help home values rebound in 2017 and 2018. Many real estate and mortgage industry executives believe that the Trump Administration will loosen lending standards. This could immediately help thousands of self-employed borrowers find a no income verification mortgage that provides quick financial benefits with increased cash flow. As property values begin to rise again, more lenders and banks will loosen the credit standards and income documentation requirements on 2nd mortgages.
Real estate experts report residential price drops of 10 - 15% in the Boston area, suburban New York City, Portland, Ore., and northern Virginia, among other markets. While these drops benefit buyers, economists are concerned that declining values leave homebuyers who bought at the peak underwater and are particularly damaging for those who bought with no down payment. Many more households will fall behind on their mortgage payments and won't be able to bail themselves out by refinancing or selling their homes, says Mark Zandi, chief economist. At worst, this could be the start of something bigger, Zandi says. The housing slump a few years back could be "the most significant threat to the global expansion" among current economic issues, he says.
No income Verification Mortgage Refinance Explanation: This is a second mortgage program that lenders offer for borrowers who would rather not have to provide income documentation. This 2nd mortgage allows applicants to state their income on their initial residential loan application. The lending underwriters do not require any documentation nor do they verify the income with the employers or bank. This is a special home equity loan that does not require the borrower to prove income declared on their application. This is most useful for self-employed and independent contract workers who receive a 1099 instead of a W-2 as they would have a difficult time proving their income. Stated income mortgages are the most commonly used and usually the least expensive of the no documentation types of mortgages.
We will help you meet 2nd mortgage lenders that understand that it is difficult for individuals who are self-employed or operate a one-person firm to verify their income. Different types of no income loans are offered including state income or no income verification loans.
A stated income mortgage loan is suitable for borrowers who have no verifiable income and have assets to meet minimum reserve requirements of the lender. The stated income on your application must be reasonable in terms of your assets. Qualifications for no income verification loans require the borrower to have a minimum credit score. When shopping for a 2nd mortgage or no income verification home equity line of credit, check with the lender about minimum fico requirements for stated or no income loan programs.
Mary is a free-lance writer who produces loan articles for consumers. You can read more home loan articles online. If you would like more financing program info about home equity lines of credit and second mortgages, please visit our site. For updated loan terms please visit our home page.
Many homeowners are saying that they are saving money by paying off debt and getting their monthly mortgage payments reduced with an equity loan featuring a fixed interest rate. We suggest that you examine revising your credit line or HELOC with a fixed interest mortgage is suggested if the interest rates are variable.
|Second Mortgage Programs||
|Stated Income Second Mortgages|
|No Income Verification 2nd Mortgage Loans|
|No Income/ No Asset Second Mortgage Refinance|
|Debt Consolidation 2nd's||
Specialty 2nd Mortgage Lending Opportunities
- Compare lending offers from multiple companies offering fixed rate and interest only payment options. We suggest analyzing the "Good Faith Estimate" in a side-by-side process.
Check Todays Rates and Guidelines
Pay off high rate debt
Lower Monthly Payment
Eliminate high rates
* Bill consolidation loan
Great Source for 2nd Mortgages and Cash Back
* Lock a Fixed Rate
No Credit Check
Stated Income Home Equity
No income verification for Self-Employed borrowers with qualifying credit scores. No W2's No Pay-stubs and No Bank Statements!
How Low Can Your 2nd Mortgage Payment Go?
- Fixed Rate Loans
- Interest Only Payments
- 1st & 2nd Combo Loans
#1 Second Mortgage Inc. will connect you with several lenders who offer the most competitive rates in the nation.
We can help find you the right residential financing options with 2nd mortgage loans for most types of credit! If you have been turned down lately, this is your second chance to access your home's equity and consolidate those bills that are becoming very irritating!