Nowadays, no-ratio mortgages are an excellent option for clients with unofficial wages, as well as for those who cannot prove their level of income with a certificate from their employer. The only point worth remembering is that this type of lending is provided on more stringent conditions.
A prerequisite for obtaining a mortgage loan is that the borrower has a stable high income and permanent employment. Official employment is the best option. This ensures that the borrowed funds will be repaid in full in a timely manner. To convince the lender of the seriousness of his intentions, the applicant must provide strong evidence of his solvency.
The easiest way to get a housing loan is for non-working citizens who are clients of a financial institution. In this case, the bank can track the movement of funds in the borrower’s accounts. If you have a deposit with a lender, the chances of getting approved for a loan are quite high.
Is it possible to get no ratio mortgage?
It is absolutely possible to get a mortgage without additional certificates of income. This is possible if the client has on hand at least 35-50% of the amount for the purchase of real estate and he is not afraid of the increased monthly payments.
As a rule, the target audience of the presented program is:
- clients who do not have a regular income;
- clients who receive “black” wages;
- citizens who do not work officially;
- persons who have a high level of income and cannot document it for any reason;
- Clients who want to speed up the process of obtaining a mortgage loan. If you need a mortgage urgently and there is no time to collect all the necessary documents, this option will also be suitable.
The most comfortable option in all the cases described above will be a mortgage on two documents. This option speeds up the application process and decision.
Why choose the help of specialists for the selection of a mortgage?
Because rich experience and reliable partners are our main advantage! First of all, we know that each client requires an individual approach, depending on his needs. Of course, every borrower strives to get a loan to buy a home without bureaucratic red tape, as well as to lower the mortgage rate. But not everyone is ready to spend a lot of time and understand a complex product.
Because, Without the help of a specialist, it is difficult to determine what is profitable and what is not. In addition, loans that, at first glance, seem very profitable may have hidden interest. Which, for example, increases the amount of the monthly payment, as well as increases the credit burden. Therefore, we are ready to help you understand a complex product. To do this, just contact the experts.
How to get it?
The conditions of mortgage programs without proof of income are calculated individually. In this case, completely different factors play a role:
- possession of the movable and immovable property;
- the size of the down payment;
- Family status;
- official income of co-borrowers and guarantors;
- the level of education;
- borrower’s age and health status.
A mortgage without proof of income is desirable to arrange with the help of specialists. Banks often ask for additional information, not being able to verify the veracity of the borrower’s earnings. An experienced loan broker will present the borrower in a favorable light and select soft conditions for obtaining a loan. The difficulty is to find an institution that actually issues mortgages without certificates and guarantors and does not use the program application as a publicity stunt.
So that filling out questionnaires and waiting for a response from the bank is not pointless; seek help from professionals.
Many banks are loyal to customers with negative information in their credit history or the absence of official proof of income.
If there is no time to look for a bank and suitable lending conditions, you can contact an intermediary. Its choice should be approached very carefully, and only companies that operate within the legal framework should be considered.
