No Income Verification Loans

No income verification loans are also known as:

  • No Tax Return Home Loans
  • Limited Proof of Income Loans
  • No Ratio Loans

With a No Income Verification Loan, your debt-to-income (DTI) ratio will not be calculated, and no income or verification of employment will be used.  This loan is perfect if you have a high DTI or a hard time showing income. The other positive attribute of this type of loan is that Gift Money is allowed.


Qualifications of no income verification loans:

  • An above average credit score (minimum of a 680 Fico score)
  • 75%-80% LTV for purchase and rate-and-term refinances
  • 65%-70% LTV for cash out loans

No Income Verification Loan FAQs

What is a No Income Doc Loan?

A No Income Doc, also called a No Income Verification Loan is a loan that does not require the borrower to provide traditional proof of income. The borrower must simply provide some type of proof that they will have the funds to make the mortgage payments. Since the loan does not need income proof, gift money is allowed to be used. This also means far less paperwork for the borrower since they are not providing pay stubs or tax returns.

Is it possible to get a mortgage without proof of income?

Yes! Rateplicity is experienced in dealing with all types of loan situations including for individuals whose income is nonexistent, fluctuates, or is difficult to prove using W2s or tax returns.

To verify your ability to repay the loan, we can look at other assets such as:

-Investment accounts

-Bank statements

-Projected rental income from a property

What credit score is needed for no income verification?

Since no income verification is required, an above average credit score of at least 680 is needed to prove that the borrower is responsible. A better credit score means better rates than borrowers with lower scores.

How can I get a second mortgage with no income?

If you have reliable assets to use as collateral and an excellent credit score, a No Income Verification Loan would be a great way to get a second mortgage. Typically No Income Verification Loans require a larger down payment or equity, and may come with a slightly higher interest rate than a traditional loan.

How to get approved for a mortgage on a single income?

This is possible, but it’s always best you consult with us to see what your maximum mortgage amount would be. This way you are prepared and do not over extend your debt obligation and put yourself into a tough situation.