Loan without any income
Newbie in REI here and I want to know how to get into BRRRR. I don’t have current income at the moment because I am in between jobs. I have excellent credit though with cash on hand amounting to $1.5M. I am about to close my first home that costs $450k. What is the best option moving forward? Is it possible to get a loan without any income? by techie690 from Denver, Colorado. Mar 25th 2022
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
Buy, Rehab, Rent, Refinance, Repeat. If it were so easy, everyone would do it. There actually is an investment property mortgage loan that does not require you to have or prove any personal income. Basically if the rent received is higher than the mortgage payment, it works... It is called DSCR Loans ( Debt Service Coverage Ratio ). Learn more here: https://joemetzler.com/no-doc-loans/#investor I lend for DSCR Non-QM loans in Minnesota, Wisconsin, Iowa, North Dakota, and South Dakota. Cambria Mortgage, NMLS 274132
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