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Can you get a NO Documentation Mortgage Loan? NINA, SIVA, SISA, Stated Income, No Doc

Are you self-employed with hard to prove income?  Have a very recent foreclosure, bankruptcy, or short-sale? Been Denied for tradition financing? Have a tough loan situation?  

We may be able to help. Call us to review your unique situation.

Plus many more programs including:

Basic Criteria for our portfolio loans

These non-tradtional portfolio loans are many times on a case by case basis, and many are also exempt from the stringent Dodd-Frank Ability to repay regulation restrictions.

These loan also come at higher rates and costs than traditional loans, and traditionals loans should be viewed first if at all possible.

Stated income loans in MN, WI, SD  No documentation mortgage loan application

APPLY ONLINE, or call (651) 552-3681 to discuss your individual situation.

Bank Statement Program Loans – Explained

Our 24-Month Bank Statement Program.

Borrower employment types

We accept Personal or Business Bank Statements.  However, qualifying income will be calculated differently.

Details of Program:

Personal & Business Guidelines

Transfers may be accepted for business statements when they come from credit card clearing houses (examples: Paypal, Square, AMEX, etcetera).  Case-by-Case and must be considered normal for the company.

• Multiple accounts are considered on a case-by-case when (a) one account is closing and reopening new account, or (b) for Business accounts that are two different and autonomous businesses.

APPLY ONLINE, or call (651) 552-3681 to discuss your individual situation.


History of NO DOC / Stated Income Mortgage Loans

"NO DOC" loans had been around for years, and served a niche market for the self-employed, commission, and tipped income home owners. Because of their additional risk, they came with higher interest rates, bigger down payments, and generally were only available to self-employed people with a minimum of 2-years provable self-employment history and trouble documenting their true income.

As the home loan markets changed through the early 2000's, these loans grew in popularity, especially once Wall Street introduced new no doc, stated income, stated assets, no job, and other ridiculous variations with underwriting guidelines so silly almost anyone could qualify for a home loan.

These new variations turned a great niche mortgage program into what became commonly known as liar loans. This was because because home buyers were easily allowed to misrepresent their true circumstances, and Loan officers were more than happy to look the other way to close a loan. Theses loans were highly abused by consumers, and bad loan officers everywhere, as people realized they could easily get a loan they either should not be getting at all, or more commonly, to get a bigger loan than they normally would have received.

These liar loans were some of the first casualties of the mortgage market meltdown, as many of these customers were some of the very first people to end up in foreclosure. Gee, go figure...  Lenders everywhere quickly pulled them from their product lines, and Washington politicians went crazy throwing up numerous rules and regulations that essentially makes these loans now impossible, or now ban them completely.

Unfortunately, the self-employed, commissions, and tipped income people who truly need and benefited from stated income, no documentation (NO DOC, NINA, NIVA, NISA, SISA) type loans lost all options to buy a home, especially once the Dodd / Frank Financial Reform Laws went into effect in 2010.

As we get further away from the financial crisis of 2008, these unique portfolio loans have slowly creapt back into the market with very limited options - but at least as of 2016, you are now starting to see some of these programs return - and we are happy to offer these programs in MN, WI, and SD.

  Equal Housing Lender

Policies, Procedures, Disclaimers

33 Wentworth Ave E - Suite 290
St Paul, MN 55118

(651) 552-3681  

Member in Good Standings, National Association of Mortgage Brokers Read our weekly Mortgage Market review Member in Good Standings, Minnesota Mortgage Association

Our services available only for properties located in Minnesota, Wisconsin, and South Dakota. PLEASE DO NOT KEEP US A SECRET from your FRIENDS. Licensed as Mortgages Unlimited, Inc. Nationwide Mortgage License # 225504. Joe Metzler NMLS Originator Lic # 274132. As a Lenders One partner, we are one of the largest  Retail Mortgage Originators in the country. We are consistently ranked as one of the top mortgage lenders in Minnesota by Minneapolis St Paul Business Journal. Any use or duplication of any materials is  strictly prohibited.  All images, text, and materials Copyright 1998 - 2016 Joe Metzler. This is the private web site of Joe Metzler, NMLS #274132. All Rights Reserved.