Los Angeles, CA -- (SBWIRE) -- 08/07/2015 -- When applying for loans, lending institutions such as banks and other financial companies often demand for varied documents and verifications that will then be heavily assessed. Chances of approval are unpredictable even with complete files submitted, making it even more problematic for those seeking stated income mortgage loans.
Part of the bane of sole proprietorship is the uncertain flow of revenues, making the act of proving one's financial stability quite complex. With this, self employed individuals encounter difficulties when requesting for credit. However, the online-based company QKMortgage.com now offers a loan program that specifically caters to people who cannot secure the likes of tax return documents.
No Income Verification Is Required for Mortgage Loan for Self Employed
An independent business owner might be enticed to venture out to the real estate industry through investment or purchase of properties, but may unfortunately not have the adequate financial capacity to do so. One of the most viable options is borrowing money as capital, but the fore mentioned concerns hinders these types of people from doing so.
Even if a person cannot acquire his income statement for the past two years, QKMortgage.com can still accommodate requested mortgage for self employed individuals. Instead of referring to tax return documents, the company bases the approval of no income verification mortgage on what the borrower proclaims as his regular earnings.
Furthermore, it is found practicable to avail of QKMortgage.com's mortgage programs that can lend as high as $3,000,000 with the low interest rate of only 7%-9%.
Application for a no income verification loans
QKMortgage.com offers accessible and convenient application process for those who wish to avail of their self employed mortgage loans as well.
An aspiring borrower can talk with the company's mortgage loan agents by calling their landline [(818) 465-5861]. The former may be given guidance as to what is the best size of requested credit will be suitable for his need, also creating an open communication of the purpose for borrowing money and one's financial capacity to pay back.
Moreover, QKMortgage.com assures a high guarantee of pre-approval upon the first call. After which, the borrower is tasked to comply with other needed requirements and is informed of the stated income loan's approval within the 72-hour lock in period.
Mortgage Loan for Self Employed Requirements
- 30% down payment or equity – If the requested loan is for purchases, QKMortgage.com verifies if the borrower has previously settled at least 30% down payment for the specific property. As for those who applied for refinancing, the amount payable must be 30% of the property's net cost or even smaller.
- FICO score of 600 – While other lending companies require a higher value, QKMortgage.com only need a FICO score of 600 to verify the borrower's capability to pay.
- Minimum of $125,000 loans – the borrower's requested money must fall within the $125,000-$3,000,000 bracket to be approve.
- Disclosed purpose of loan – under the prerequisites of QKMortgage.com's self employed mortgage, the property to be procured or refinanced must not be for the occupancy of the borrower but rather for investment purposes only.
QkMortgage.com makes it possible for small business owner and self-employed to obtain a jumbo mortgage loan for investment property, non-owner occupy property. Their agents approve loan without the need of income tax or work history. Borrower can now borrow up to three millions and not need to verify income or work history.
For more information on how to obtain mortgage loan for self employed visit QKMortgage.com or call their direct line at (818) 465-5838
Los Angeles, CA, USA