Our Verification of Employment Only mortgages allow borrowers to qualify using non-standard income documentation. While most mortgage lenders ask for your tax returns, pay stubs and W2’s, instead consider other factors such as available assets, credit score and overall down payment.
Our Verification of Employment Only Mortgage Program allows borrowers to qualify using non-standard income documentation. While most mortgage lenders ask for your tax returns, pay stubs and W2’s, Verification of Employment Mortgages instead consider other factors such as available assets, credit and down payment. This makes it easier to get a home loan if your income fluctuates.
Fidelity Home Group’s Verification of Employment Mortgage Program is mostly designed for the borrowers as an option for home financing since self-employed individuals have a complex way of documenting income.
Our No Income Verification Program that does not require any income documentation at all.
Verification of Employment Mortgage Program Details:
In no-income verification mortgages, lenders don’t require applicants to prove or document a source of income. Other names for such mortgages include “stated-income” loans and “no-doc” or “alt-doc” loans, but all of them fall under the same umbrella definition with only a few differences. There are four main types of no-income verification mortgage loans, each with its own level of requirements.
A SISA loan can be useful if you have significant income and assets that are difficult to document. When you apply for a SISA loan, the lender agrees to accept the income and asset figures you provide, with no documentation needed. This can be helpful for small business owners who keep all their assets in a business account and don’t document their personal compensation with pay stubs, W-2 forms or 1099 forms. In such cases, bank statements for 12 to 24 months can be used to calculate the business’s monthly cash flow in place of other documentation.
This type of loan is most useful if a big part of your income is hard to document, but you have verifiable assets on hand. The lender agrees to accept your income figure and verify your available assets. One example where SIVA would be appropriate is for someone whose income is based on tips or gratuities but who has a personal bank account in their own name.
A no-income, verified assets loan is meant for applicants who have verifiable assets but income that cannot be documented. In this case, the lender verifies your assets and does not take your income into consideration. A retiree who draws income from their retirement accounts may not have enough verifiable income, but their assets can be documented, so they would benefit from using a NIVA loan.
With the fewest requirements of all, NINA loans are best for applicants who cannot provide documents for either income or assets. NINA lenders base approval solely on the collateral and other non-income factors. Someone who is employed by a foreign company and holds their assets in a foreign bank may not be able to provide any documentation acceptable to U.S. lenders. Using a NINA loan in this case might allow the borrower to skip document translation and international asset transfers.
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Fidelity Home Group
4700 Millenia Blvd Suite 175, Orlando, FL 32839
Hours of Operation:
Monday - Friday 8am to 7pm EST
Saturday - Sunday 10am to 6 pm EST