Mortgage With No Income Requirement By Gressly Stevens

Those of us that run our own businesses have very few options when it comes to getting a mortgage or refinancing our current mortgage. This also applies to those that work for tips or for cash because we all have one thing in common. We struggle to prove our real income. That is why mortgages with no income requirement were created.

These types of mortgages take out the need for tax papers and paycheck stubs that only show about half of what we really make.

Take a bartender or server for instance. This person might pull down a nice income of close to $700 or more a week, but only claims about $400 of it because they receive cash tips on a regular basis. That means when this person goes to qualify for a mortgage they are missing over $15,000 of annual income because they did not claim it.

There is no way for this person to prove what they make so it looks like they cannot afford their bills let alone a mortgage payment too.

This also goes for the small business owner. Many do not record all the cash that comes in because they do not want to pay taxes on it, be taxed heavily for higher sales volume, and they have expenses that do not get accounted for as well. This person might show that they make $30,000 on their tax forms when they really make closer to $50,000.

How hard would it be for them to qualify for a mortgage without a mortgage with no income requirement?

Discover the companies that do Mortgage loans with Mortgage with No Income Requirement. Go here for more info:

Mortgage with No Income Requirement

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