DH and I are both off the books, so we were told we need to go for a no income check, what excatly does that consist of? How do they check the money you make and does it effect your % rate?
Anything you know will be very helpful!!!
TIA
dgtlsunshine
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Re: Question about no income check???
I have heard they only thing they really require for those types of loans are a good credit score. 720 and up.
littlecat
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Re: Question about no income check???
They don't check your income at all. My mother did that. I think you need a decent credit rate but you pay a higher rate.
MrsTC
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Re: Question about no income check???
My DH and I did this. I have better credit than my DH but we needed both incomes to pay the mortgage. So the mortgage is in my name but they took into effect his salary - we pay a slightly higher interest rate.
Maribelle7777
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Re: Question about no income check???
I know someone that did it. You put down what you make but they don't check it. Her husband is off the books and she doesn't report her tips.
