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No Ratio mortgages

Have a good credit history?

 

No-ratio mortgages are perfect for borrowers with good credit histories and may lack the income documentation required under the underwriting guidelines for a conventional mortgage. Less documentation could mean less processing time for the mortgage and a quicker closing for borrowers in a rush to complete a transaction.

In a borrower’s debt-to-income ratio, the amount of debt a person has concerning income could pose a challenge for someone looking for mortgage financing. Our experienced team at Quintessential Mortgage Group has the solution for no-ratio mortgages. As a mortgage broker, we work with many lenders to offer our borrowers a selection of loan offerings. 

 

Choosing a no-ratio mortgage

 

Unlike underwriting requirements for conventional loans that rely upon the information contained in tax returns, pay stubs, and W-2 forms, lenders offering no-ratio mortgages rely upon a borrower’s credit and overall financial profile. Self-employed borrowers find the relaxed documentation requirements of a no-ratio mortgage beneficial, but it could also prove to be convenient for a salaried borrower with additional income that cannot be readily documented. Advantages include:

  • Loan-to-value ratio as high as 75%
  • Loan approvals available without asset seasoning
  • No tax returns or income verification

 

Contact our skilled team at QMG today to learn more about our no-ratio mortgage option. 

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