California; 26, September 2015: When applying for traditional loans, lenders often demand income documents and cash flow verifications from self employed borrowers. Chances of approval for traditional loans have been very low following the great recession of 2008, making it very challenging for those seeking self employed mortgage loans.
QKMortgage.com now offers self employed borrowers and business owners a loan program that specifically caters to borrowers who report low income on tax return documents. Now it is possible for borrowers to qualify for a loan without having to submit documents for income verification.
No Income Verification Is Required for Mortgage Loan for Self Employed
At QKMortgage.com, no tax returns are requested in order to qualify for a mortgage for self employed borrowers. Instead of referring to tax return documents, approval of stated income loansstated income loans is based on what the borrower states as earnings.
Requirements For Self Employed Stated Loans:
• 30% down payment or equity –If the requested loan is for purchases, QKMortgage.com requires 30% down payment for the specific property. For refinancing, borrowers may take up to 70% of the confirmed fair market value.
• FICO score of 600 or higher– While other lending companies require a higher FICO score, QKMortgage.com only needs a FICO score of 600 for the borrower’s credit.
• Loan amount between $125,000 and $3 million – the borrower’s loan must fall within the $125,000-$3,000,000 bracket to be approved.
• Non Owner Occupancy–QKMortgage.com’sself employed mortgage requires the property to be purchased or refinanced for investment purposes only. The loans are not available for primary residences.
How to apply for a no income verification loans:
Loan agents at QKMortgage.com are available by calling (818) 465-5838. On the first call, pre-approval is usually given within 30 – 60 minutes. After the first call, the borrower is walked through any requirements for the loans and is informed of the stated income loan’s approval within the 72-hour lock in period.
For more information on how to obtain mortgage loan for self employed visit QKMortgage.com or call their direct line at (818) 465-5838
QkMortgage.com makes it possible for small business owners and self-employed borrowers to qualify for a mortgage loan for investment property up to 4 units, or any non-owner occupied property. The loan agents at QKMortgage.com can approve a loan without the income tax documentation or work history. Borrowers can now qualify for up to three million dollars without the need to verify income or work history.
For Media Contact:
Contact Person: Darryl Bledsoe
Telephone: (818) 465-5838