Conventional mortgage programs rely heavily on credit scores, income documents, and debt-to-income ratios. We offer an equity-based alternative for borrowers whose financial profiles may not fit conventional lending guidelines. This program is now available for both investment properties and owner-occupied homes. Instead of evaluating tax returns, employment income, or property cash flow, qualification is primarily based on the property’s equity and overall marketability.
No FICO, No DSCR and No Income Verification
- No minimum FICO score
- No DSCR requirement
- No employment verification
- No personal income calculation
- No tax returns
- No W-2s or pay stubs
- No bank statements for income qualification
Because the program does not use a minimum credit score, borrowers with serious credit events may still be considered. Recent bankruptcies and mortgage payment history do not automatically make a borrower ineligible.
Owner-Occupied Properties Are Eligible
The program was previously structured around real estate investors. It has now been expanded to include qualifying owner-occupied properties. This gives homeowners with substantial equity another potential financing option when conventional, FHA, and Non-QM programs cannot accommodate their income or credit profile.
Program Highlights
- Owner-occupied and investment properties eligible
- Maximum 55% loan-to-value ratio
- Loan amounts from $125,000 to $1.5 million
- Minimum property equity of $150,000
- Purchase and cash-out transactions
- 30-year fixed-rate term
- Fully amortizing monthly payments
- Rates generally in the high 9% range with points
- Five-year prepayment penalty at 5%, where legally permitted
Terms, pricing and prepayment-penalty availability may vary according to occupancy, property location and applicable law.
The Property Is the Main Qualification Factor
Although there is no minimum FICO score or income calculation, the property must provide acceptable collateral for the loan. Approval depends heavily on the property’s condition, location, value and overall marketability. Properties generally must be in acceptable condition and located within a market that supports dependable valuation and resale demand. Rural properties, severely distressed properties, C5-condition properties and highly unusual or difficult-to-market properties may not qualify.
- Maximum 55% LTV
- At least $150,000 in property equity
- Acceptable property condition
- Strong collateral quality and marketability
These requirements are firm. A property that falls outside the collateral or equity guidelines will generally not qualify, regardless of other compensating factors.
An Equity-Based Mortgage Solution
A low credit score, recent bankruptcy, mortgage late payments, or difficulty documenting income does not necessarily mean a borrower is out of options. When the property has substantial equity and represents acceptable collateral, financing may still be possible. NoIncomeMortgage.com specializes in alternative mortgage programs for borrowers who cannot qualify under traditional income and credit guidelines.
If you own an eligible property with at least $150,000 in equity, or are purchasing with a substantial down payment, contact us to discuss your scenario.
