No Job No Income Overview
Easy Owner-Occupied Loan: No Employment and Income Required.
This program is Retail Only.
Available in CA, IL and HI.
No Job No Income Highlights
3/6 ARM, 5/6 ARM
1) Max. Loan Amount $2.5M;
2) Max. LTV 60%;
3) Min. FICO 700;
4) No job and income needed;
5) No prepayment penalty
6) Foreign national: Max. LTV 50%;
7) Investment: Max. LTV 55%;
8) Most recent 2 Months Bank Statement required;
9) Reserves must be held in an US institution, 24 months or 36 months P&I must be deposited into AAA-designated account prior to closing.
* Business Funds/Gift Funds are NOT allowed.
* Loan proceed from subject transaction may NOT be used for required reserves.
No Job No Income Flyer
