No Ratio Mortgage Refinance

No ratio allows for mortgage refinance with low income.

This type of mortgage does not require your income to meet the standard requirements to qualify for the loan. For example, if the monthly payment equaled 50% of your income, then your income ratio would be at 50%. Although the lender does not require your income level for consideration in the loan, you are still required to have some type of employment. This can also be fixed income, such as social security or disability income.


Stated -vs- No Ratio

An alternative to a no ration type of program is the stated income loan. The benefits to using this type of product is you can qualify for hight "Loan to Values". And is usually offered at a considerably lower amount. The stated is not usually offered to fixed income borrowers, or more recently W2'd employees are finding it harder and harder to locate this program.

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Refinance Programs

FHA Cash Out refinance
Cash Out Mortgage
Jumbo Refinance
Reverse Mortgage
High LTV
Payment Option Loan
No Ratio Mortgage



Related Information

How to Refinance
Mortgage Rates