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If you need financing for your mortgage, but
find it difficult to verify your income, a No-Income-Verification
(NIV) mortgage might be right for you. No Income
Verification Loans may be the right choice if
you are self-employed and are available at only
slightly higher rates than normal mortgages.
There are three main types of NIV loans:
- Stated Income
Your employment is verified, but no documentation
regarding income is required. The loan approval
is based on credit history, verified liquid
assets, and the value of the property.
- No Ratio
Similar to Stated Income except no income verification
is provided at all.
- No Documentation
No employment or income verification is provided
or verified. Approval is based on credit history,
down payment, and value of the property. Sometimes
you will not be required to provide asset documentation.
Apply for this loan
today!
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