Are you struggling to prove your income and need a home equity loan that does not force you to do so? There are options and one of them is called a no doc equity loan. This is a refinance type of mortgage loan that allows you to get all the benefits of a traditional refinance, but you will not have any income 토토사이트 whatsoever. Here is how it works.
Basically you will be proving nothing. Some lenders call this a stated income program and you have to write a statement that says you make a certain amount, then sign it. There will be no paycheck stubs required and no taxes or bank statements required either. They will still check your credit just like normal and if you have bad credit it may be a bit difficult to get a no doc equity loan, but sometime it can still be done.
You will still want to compare lenders and shop your rate and fees around. Just about every mortgage company has some sort of no doc program so you need to make sure you are getting a good deal.
You can do this by getting a quote from a broker and a small handful of lenders. The broker will be able to give you the best quote for all the lenders they work with and the other one will give you quotes from just their programs. Compare these and when you find the best one send it to your broker and the other companies to give them a chance to match or beat it.
This type of loan is perfect for the self employed, tipped employee, independent contractors, or anybody that gets paid cash. If you work a traditional job and get paid a regular paycheck, then this type of program makes no sense. If your broker is trying to get you to qualify for a no doc equity loan and you don’t fit the mold, then you need to dump your broker.