What is a no-income loan?

Answer A no-income loan allows home buyers to obtain a mortgage based on less stringent criteria than would be required for a traditional home loan. There exist five types of no-income loans, each requiri... Read More »

Top Q&A For: What is a no-income loan

Where can you get a loan using gross income?

You can apply at any financial institution that you choose to ask them if they will loan you any amount using your gross income for this purpose.

What Happens if you cant pay back a student loan. Due to low income?

Your only option is to repay... even a small amount, every month, until it's paid off. Even if they complain and say you aren't paying enough, they aren't going to send any money back to you becas... Read More »

How much of income has to be contributed to a student loan debt?

On July 1, 2009, the government's "Income-Based Repayment" program limited borrowers' monthly loan payments to 15% of discretionary income that's above the poverty line. If the loan is not paid off... Read More »

How do I analyze rental income for a mortgage loan?

Include all rental income information on your mortgage loan application. The information should include the total rent received, any mortgage payments on the property, as well as the insurance and ... Read More »