Mortgage Blog

NO Income Investor Loan

Core Mortgage Financial is proud to announce a new loan product, NO income investor loan. This loan is designed to speed up the home buying process for real estate investors. Underwriting uses the commercial debt service coverage ratio analysis to qualify on residential homes. The employment/ income is not considered but the DSCR on the subject property is reviewed to include the rental market analysis. The appraisal will dictate the estimated annual rental amounts including the rent schedule. If the rental income exceeds the total principal, interest, tax and insurance payments the investor qualified.


Another added incentive is the  minumum of 20% down payment and the very aggressive hedge fund interest rates about 1% higher than the current market conditions. We only offer adjustable rate mortgages up to seven years with very low lender fees.

Underwriting will review the borrowers credit report to ensure they have a mortgage payment history and can prove 12 months of success mortgage payments on their credit report.

Below are some additional hightlights of the loan product:

*Assets are verified to cover cash to close

*640 middle credit score is required

*Single family residences & Conds are allowed

*Foreign Nationals is acceptable

*Jumbo loans up to 2M

*Prior rental experience is not required but preferred

*Underwriting will complete a due dligence test to ensure occupancy is non-owner.

This is not a qualified mortgage and does not fall under the QM rules. 

Please call one of our dedicated loan originators to discuss more loan specifics. 


Disclaimer: Rates, Programs, Guidelines are subject to change without notice. NMLS #1743702

Mortgage: Collectively, the security instrument, the note, the title evidence, and all other documents and papers that evidence the debt. A Mortgage is a loan secured by a lien on real estate held in fee simple or on an acceptable leasehold estate. A loan made for the purpose of purchasing, building or rehabilitating real property, and secured by that property. A pledge of real property as collateral for payment of debt. The term is also used to describe both the mortgage (security instrument) and the promissory note evidencing the debt, which includes the terms of the debt’s repayment.

Note: The evidence of indebtedness for a mortgage loan. A note is the instrument evidencing the indebtedness secured by a security instrument that sets forth the amount the owner owes the lender and the manner in which the debt is to be satisfied. The note establishes the payment terms, conditions under which prepayments may be made, and the lenders rights in the event of default. A written agreement between the mortgagor and the mortgagee specifying the amount and terms of repayment for a loan.



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