• filter:

does anyone know who will do mortgages with out tx returns

  • Page :
  • 1
  • Text Only
  • Search this Topic »
Voting History
rated:
I just want to know are there any mortgage companies or banks who do mortgages without tax returns? They use to do it.

Member Summary
Staff Summary
Thanks for visiting FatWallet.com. Join for free to remove this ad.

rated:
Have you asked the POTUS?

rated:
NoMoneyInMyWallet said:   Have you asked the POTUS?
  russian banks

rated:
russian potus

rated:
rufflesinc said:   
NoMoneyInMyWallet said:   Have you asked the POTUS?
  russian banks

  They need it too
http://www.sberbank.ru/ru/person/credits/home/buying_complete_ho...

rated:
dfres said:   I just want to know are there any mortgage companies or banks who do mortgages without tax returns? They use to do it.
  
What is this I don't even?

Is OP asking if he can do a mortgage loan without an escrow?

rated:
justignoredem said:   
dfres said:   I just want to know are there any mortgage companies or banks who do mortgages without tax returns? They use to do it.
  
What is this I don't even?

Is OP asking if he can do a mortgage loan without an escrow?

  No, he is asking if anyone does stated income loans. This is a loan where you put whatever you want in the annual income box and the bank trusts that it's correct. Similar to how credit card apps work.

rated:
Troll #10

1) Gotten into a major car accident
2) Lost your SSN
3) Lost / broke your refridgerator
4) Looking for a Mortgage with the worst credit score
5) Trying to dispute some bad items on the credit score.
6) Lost your cellphone
7) Do your own plumbing but don't know how
8) Do your own electrical but don't know how.
9) Use Fatwallet for your 'Zen' moments.
10) Doesn't File Taxes but wants a mortgage.

Keep it up Dfres!

rated:
dfres said:   I just want to know are there any mortgage companies or banks who do mortgages without tax returns? They use to do it.
Underwriting loans with stated income has pretty much gone the way of the dodo. Dodd-Frank and the CFPB have pretty much prohibited lenders from making any stated income loans for owner-occupied properties.

Now for non-owner occupied properties for investors, it should be possible to find some but the lenders are probably gonna look at very high downpayments (max LTV of 70%, for some lenders down to 50% LTV max) , higher interest rates than traditional mortgages, and still well documented proof of assets. They'll likely expect very good or excellent credit score, may still ask for proof of employment, bank statements, etc.. but there's a way to get a stated income loan, but again only for non-owner occupied investment properties. 

rated:
Don't feed the troll.

rated:
dfres said:   I just want to know are there any mortgage companies or banks who do mortgages without tax returns? They use to do it.
  Yes, and they won't even require a down payment (except maybe for maybe two or three months worth of monthly payments). The downside is that they also don't let you build equity in the house as you make your payments. You can even "default" after a year or more and it won't affect your credit! You won't have to look too hard for one of these mortgage companies, they're called landlords.

rated:
svap said:   
rufflesinc said:   
NoMoneyInMyWallet said:   Have you asked the POTUS?
  russian banks

  They need it too
http://www.sberbank.ru/ru/person/credits/home/buying_complete_ho...

  google translate says
[quote]

  • The loan may be granted without confirming income and employment[/quote]

rated:
rufflesinc said:   
svap said:   
rufflesinc said:   
NoMoneyInMyWallet said:   Have you asked the POTUS?
  russian banks

  They need it too
http://www.sberbank.ru/ru/person/credits/home/buying_complete_ho...

  google translate says


  • The loan may be granted without confirming income and employment



Only if you put 50% ("If you make an initial payment of 50% of the value of the property to be credited. The maximum loan amount is 15,000,000 rubles for loans to facilities located in the territory of Moscow and St. Petersburg, 8,000,000 rubles for loans to other facilities."

rated:
I heard there's this company called Agape that specializes in hard money loans.

rated:
Shandril said:   
dfres said:   I just want to know are there any mortgage companies or banks who do mortgages without tax returns? They use to do it.
Underwriting loans with stated income has pretty much gone the way of the dodo. Dodd-Frank and the CFPB have pretty much prohibited lenders from making any stated income loans for owner-occupied properties.
 

I definitely think we should get rid of those onerous regulations and try these "stated income" loans to help out people like OP. What could go wrong?

rated:
Well... POTUS does want to undo the CFPD and Dodd-Frank, clearly nothing can go wrong. Just look at POTUS's tax returns, he makes billions and even more if not for the unfair regulations, believe him.

rated:
AlwaysWrite said:   
Shandril said:   
dfres said:   I just want to know are there any mortgage companies or banks who do mortgages without tax returns? They use to do it.
Underwriting loans with stated income has pretty much gone the way of the dodo. Dodd-Frank and the CFPB have pretty much prohibited lenders from making any stated income loans for owner-occupied properties.

I definitely think we should get rid of those onerous regulations and try these "stated income" loans to help out people like OP. What could go wrong?

  OP will have more money to invest into the economy and create more jobs

rated:
AlwaysWrite said:   
Shandril said:   
dfres said:   I just want to know are there any mortgage companies or banks who do mortgages without tax returns? They use to do it.
Underwriting loans with stated income has pretty much gone the way of the dodo. Dodd-Frank and the CFPB have pretty much prohibited lenders from making any stated income loans for owner-occupied properties.

I definitely think we should get rid of those onerous regulations and try these "stated income" loans to help out people like OP. What could go wrong?

  I know right? It's something our supreme leader, oops I mean POTUS, came up with that's never been tried before so we never know how much it'll boost the real estate market and wall street investment banks. If only we could somehow package those stated income loans into some kind of unregulated derivatives, we'd surely reach our 4% growth goal.

rated:
Yes set your delorean to 2005. Or just wait a few months for POTUS to MAGA

rated:
Stated income loans, aka 'liar loans,' are still available. Though thankfully much less prevalent than the go go 2000s.

A small-business owner friend of mine with highly fluctuating income found them a reasonable option about a year ago, after most traditional lenders weren't able to get him through underwriting.

http://www.reuters.com/article/us-usa-banks-loans-analysis-idUSK...

https://mymortgageinsider.com/stated-income-loans-make-a-comebac...

Expect a percentage point (or more) higher rate than a conventional loan and only limited availability of high-LTV options.

  • Quick Reply:  Have something quick to contribute? Just reply below and you're done! hide Quick Reply
     
    Click here for full-featured reply.


Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2017