No Income Verification Home Equity Loan Georgia

A no income verification home equity loan is a second mortgage loan that does not require you to provide income documentation to qualify for the loan. This type of loan is great for homeowners who need a home equity loan but have hard to document incident.

Local Companies

Best Bank
678-993-5353
3770 Data Drive
Norcross, GA
John Wieland Homes & Neighborhood
770-703-1692
4125 Atlanta Road, SE
Smyrna, GA
ACEO Capital Group Llc
(770) 396-6833
1915 Spalding Dr
Atlanta, GA
Sprayberry Insurance Agency, Inc.
(678) 654-6984
5905 steeplechase blvd
cumming, GA
RBC Centura Bank
404-495-6949
4855 Briarcliff Road
Altanta, GA
Ameriprise Financial
678-627-0149
1907 Harts Mill Road
Atlanta, GA
BestBank
678-993-5353
2175 Parklake Drive
Atlanta, GA
Branch Banking & Trust Co. (BB&T)
404-442-5043
950 E. Paces Ferry Rd.
Atlanta, GA
Brookhaven Bank 10
404-633-BANK
2987 Clairmont Road, NE
Atlanta, GA
CDC Federal Credit Union
404-325-3270
2301 Parklake Drive, NE
Atlanta, GA

The majority of borrowers with hard to document income are either self-employed or commission based employees. Consumers who fall under these categories may have high income but have a lot of business related deductions that they write off on their taxes. This is good on the one hand as it reduces the taxable income and thus the amount of taxes owed, however, when it comes to getting a home loan it can hurt as most lenders use the average of your last 2 years taxable net income (the amount left after all of your deductions) to determine your income figure for qualifying purposes. This may cause you to have a debt to income ratio problem if you have a high debt load and thus keep you from qualifying for the loan. With a no income verification home equity loan, however, your gross income can be used for qualifying purposes as opposed to the net income.

In order to qualify for a no income verification home equity loan you will, in most cases, need good credit and a high credit score. Expect to pay a higher rate for this type of loan as opposed to a traditional loan in which you have to document your income. Also, even though a no income verification loan does not require you to document your income, some lenders may require that you have a certain dollar value of assets on hand which must be verified. Not all lenders have this requirement though - some lenders offer a program called NINA which stands for "no income no assets" meaning you do not have to document either. Loan guidelines and rates vary from lender to lender so it is a good idea to shop around to increase your chances of getting the best deal available to you.

For more information on no income verification home equity loans, or to compare rates and programs of home equity loan lenders visit http://www.equityloansource.com

About the Author:

Levetta Rivera is a successful mortgage broker and publisher of the following financial sites: http://www.equityloansource.com and http://www.militaryvaloan.com

militaryvaloan@earthlink.net


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Featured Local Company

Best Bank

678-993-5353
3770 Data Drive
Norcross, GA
http://www.bestbank.com/

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