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  ****No Ratio Loans are temporarily unavailable due to market volatility. ***
No Ratio loans are typically for borrowers who are wage earners (W-2) and succeeds where stated income loans fail. Advantages: No verfication of income, leave income completely blank on the loan application. 100% financing available. Disadvantages: Higher rates and fees than a stated income loan. No Ratio loans succeed where stated income loans fail. When used: Scenario: A first time homebuyer working at a fast food restaurant, with good credit (at least a 680 FICO credit score), no downpayment, and buying or refinancing a house on his/her own can now obtain a home loan for $600,000. If income of $8,000 per month in income is needed to qualify for a $600,000 loan, than that income is not reasonable for the position. In other words, someone working as a fast food cashier doesn't make $8,000 per month. It isn't believable or reasonable, so it wouldn't pass the stated income loan reasonability test. On a stated income loan, this loan would be denied due to excessive stated income. No Ratio can be a perfect fit for a single Mom home loan (or Dad), retired or fixed income individuals, or for stated income loan borrowers who don't feel comfortable in stating their income fearing lender fraud. On a No Ratio loan, the income is left blank on the loan application. The employment position and length of service is verified for each borrower, but the income is nowhere to be found on the application. Most No Ratio loans don't have an income reasonability test! Notice how I say most. Each lender has their own twist on doing things, but a traditional No Ratio loan doesn't have the income reasonability test. No Ratio loans are a huge breakthrough in lending and has opened up the door for home ownership for many borrowers. 2 years in the same line of work is required, and the position must be full-time. Assets must be verifed on a No Ratio loan! Anywhere from 2-6 months of reserves are required on this loan and they must have been in the bank and in the borrowers name for 30-90 days, depending on the lender. Closing costs for the No Ratio loan must also be verified under the same rules as the reserves. Gifts toward downpayment and closing costs are limited Due to the added risk of this loan, gifting of funds is either prohibited or very limited, each lender has it's own set of rules. Call me for more details! Types of loans available The loans mentioned in the "stated income" loan section, are also available on the No Ratio loan. The 30 year fixed, interest only, the 40 year loan, 100% financing for purchases and cash out refinances and a variety of adjustable rate mortgages are available for the No Ratio option. Call me for details or click here to apply on-line! Kevin Walton Cell: 805-276-1942
 Best Capital Funding - 6930 Owensmouth Ave. #102 - Canoga Park, CA 91303 Office Phone: (818) 887-2779 Fax: 800-506-0632 Cell Phone: 805-276-1942 Best Capital Funding.
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