No Ratio mortgage—no income disclosure required. A great fit for asset-rich or investment-savvy borrowers. Designed for primary, second home, and investment properties. Available for purchases, rate/term, and cash-out refinance.
No Income Disclosed or Documented:
- No DTI calculated
- No Personal Income
Loan Amounts:
- Maximum: $3,000,000 (up to $1.5M cash-out allowed)
- Minimum: $150,000
Credit Score Minimum: 640
Property Types:
- 1–4 unit residential
- Max)
- Condos
- PUDs
- Non-warrantable condos (case-by-case)
Maximum LTV:
- Purchase: Up to 75%
- Refinance: Up to 70%
Eligible Occupancies:
- Primary Residence
- Second Home
Liquid Asset Requirements:
- 3 months’ reserves minimum
- Must verify sufficient assets to cover down payment, closing costs, and reserves
Income and Employment:
- No income disclosed
- No employment verified
Required Documentation
- Credit, assets, and property value required
- No income or employment documentation required
Prepayment Penalty:
- Applicable to investment properties only (where permitted by law
Underwriter Notes:
- Foreign Nationals not eligible
- U.S. citizens and permanent residents only
Available in the Following States:
Alabama, Alaska, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Kansas, New Jersey, New Mexico, North Carolina, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas, Virginia, Washington, and Wisconsin.
Last Updated on 2 months ago by Broker Mortgages