Home › Buy › No-income verification purchase loan
Alternative documentation

Strong assets, complicated income. There is a loan for that.

No-income verification loans qualify you on what you have rather than what you earn each month: liquid assets that could cover the payments (asset depletion), or for an investment property, the rent it will produce. No pay stubs, no tax returns.

Income docsNone; assets or rent qualify
Minimum down20% to 30%
Minimum credit680
PropertyPrimary, second or investment
See if I qualifyCall (856) 606-1070
4.4 on Google · 214 reviewsNMLS 13988Licensed in 15 states + DC
Who it's for

Is the No-income verification purchase loan right for you?

  • Retirees and early retirees living on savings
  • Business owners between tax years or with complex returns
  • Foreign nationals and new US residents with assets
  • Investors buying rentals in a personal name or an LLC
How it works

Three steps from here to closing.

Choose the path

Asset depletion counts your liquid assets over the loan term; rent-based qualifying uses the property's market rent.

Pre-approval and offer

Credit, assets and the appraisal carry the file.

Close

Typically 30 days. Reserves after closing are required.

What you'll need

Requirements at a glance.

  • Credit score of 680 or higher
  • Down payment of 20% to 30%
  • Liquid assets to support the payments (asset-based) or a rent that covers the payment (investor)
  • Reserves of 6 to 12 months
  • Standard appraisal and title
Straight talk

The upside, and what to weigh.

Why people choose it

  • No employment or income documentation
  • Works for retirees, foreign nationals and investors
  • Close in an LLC on investment property

Things to consider

  • Higher down payment and rates than full-doc loans
  • Prepayment penalties are common on investment property versions
Common questions

Asked on almost every first call.

Is this a no-doc loan?

Income is not documented; credit, assets and the property are fully verified.

How is asset depletion calculated?

Qualifying assets are divided over a set number of months to create a monthly income figure.

Can I buy a primary residence?

Yes with asset depletion. Rent-based qualifying is for investment property only.