No Income & No Employment (true stated income) Mortgages
True "Stated" Income Loans Are Back! No Income or Employment information is required on the application.
No Income or Employment documentation is required.
Available as of 3.16.2020 for all W-2, Self Employed, 1099, Retired & "All Cash" borrower types.
Available for Primary Residences, Vacation Homes AND Investment Property.
Interest Rates vary based on FICO and LTV, but this is NOT a "hard money rate" product.
Loan product Eligibility and guidelines are separated below between (1) Primary Residence / Vacation Property options and (2) Investment Property options.
1. Primary Residence & Vacation Home Product Offerings:
Currently ONLY available in the following states - AZ, CA, CO, DC, FL, GA, ID, LA, MD, NM, OR, TX, UT, VA, WA. Additional States coming soon.
No Income and No Employment information or documentation required.
Available for Single Family Homes, Condo's and 1-4 Unit Property Types.
Available in 30 Year Fixed Rate & 5/1, 7/1, & 10/1 ARM products.
Available with Interest Only Option.
Available for Purchase transactions up to $2,000,000 with 25% down payment and up to $3,000,000 with 30% down payment.
Available for Rate and Term Refinance transactions with at least 25% equity (75% LTV) and up to $3,000,000 loan amounts with 30% equity (70% LTV).
Available for Cash Out Refinance up to 60% Loan To Value. (40% equity) and up to $3,000,000 loan amount.
Minimum Loan Amount of $150,000 and Maximum Loan amount of $3,000,000
No Seasoning requirements for Bankruptcy or Foreclosure. Recent mortgage late payments OK.
Non Warrantable Condo's allowed to 60% LTV.
Condotels, Manufactured/Mobile Homes, Commercial use, Vacant land & Agriculture properties NOT ALLOWED.
No Construction Financing but we can pay off a construction loan via refinance.
Minimum FICO Score is 620.
100% Gift Funds Allowed for Purchase transactions.
For additional Alt Income Products for Primary Residences in ALL states see menu page above "Self Employed & 1099 Mortgages".
Products, Rates and State Coverage subject to change with out notice.
2. Investment Property Product Offering:
Available in All States including New York and Hawaii!
No Income and No Employment information or documentation required!
Available for Residential 1-4 units and 5-100 Apartment units.
No limit to number of properties owned/financed.
Non Owner Occupied /Investment Property ONLY - Borrower must currently own a primary residence.
Loan Amounts $200,000 to $2,000,000 .
620 Minimum FICO Score.
20% Minimum Down Payment for Purchase.
80% Minimum Loan To Value for Refinance.
75% Minimum Loan To Value for Cash Out Refinance.
Some options require pre payment penalty for investment transactions.
Interest Only Options Available
Not All Product Options available in all states. Rates, products, and product options subject to change with out notice.
For questions or a personal Rate Quote please use the contact form below, call us at (888) 767-6192 or email us with your scenario details to Jpeisner@boemortgage.com.
We will answer direct or return calls 7 days a week to help you find the best loan option for your scenario.
Mortgage Banking (877) 393-6207
Bank Of England Mortgage
5600 S. Quebec Street #225D
Greenwood Village, CO 80111
Please use the contact form below to share as much about your loan scenario as you would like. This will enable me to provide a timely written quote with loan terms, rates, lender fees and estimated monthly payments. The more details you can provide the quicker and more accurately I can respond. I'm usually available 7 days a week via phone or email for your convenience. Please let me know how we can help!
Please use format xxx-xxx-xxxx for the phone number field below. Thank you!