Are you looking for a way to purchase a home or refinance your current mortgage, but you struggle to prove your full income when you go through this process? Do you want to use one of the no documentation mortgages that are out there to get your new home or refinance your current home? These programs are designed specifically for the self employed and those that struggle to prove their income. Here is what you should know.
First, if you work a regular job that pays you a regular paycheck and you file a regular type of tax return every year, then this is not the program for you. This is not meant for you and if someone is trying to talk you into it, then you are going to end up with a mortgage you cannot afford. This is not good for you and you need to stop dealing with the company and person offering this to you immediately.
SEVERS
Second, the no documentation mortgages are meant for the self employed and those that struggle to prove what they really make. These people are usually severs, bartenders, and other tipped employees that might make 0 in one night and only claim they made . This means over a year if they claim they make ,000, then they probably really made closer to ,000. This is why the no documentation mortgages exist.
Last, if you fit the mold for this program then you need to go ahead and use it because it will be very difficult for you to get a good mortgage by going the more conventional route. This is what you need to do and you can start by researching and finding lenders for these types of programs right online. This is convenient and easy to do and you will be closer to what you want in a hurry.
No Documentation Mortgages - Getting a Loan Even When You Cannot Prove Your Full Income! SEVERS
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