Search results
Results from the WOW.Com Content Network
A California lawmaker is leading the charge to make undocumented residents eligible for a popular state-backed home loan program, weeks before it gives out another $250 million in down payment ...
Cons. Few lenders offer these loans in 2024. You’ll need a good credit score and lots of liquid assets to qualify. No-doc mortgage loans usually come with higher interest rates.
For this reason most no doc loans are for business purposes or are for investment in something other than residential property. Private money is the main source of no doc loans, often with interest rates charged at 2% to 6% per month (24% to 72% p.a.). Non-conforming lenders focus on the lower risk no doc loans and offer more competitive ...
No income, no asset (NINA) [1] is a term used in the United States mortgage industry to describe one of many documentation types which lenders may allow when underwriting a mortgage. A loan issued under such circumstances may be referred to as a NINA loan or NINJA loan .
A stated income loan is a mortgage where the lender does not verify the borrower's income by looking at their pay stubs, W-2 (employee income) forms, income tax returns, or other records. Instead, borrowers are simply asked to state their income, and taken at their word. These loans are sometimes called liar loans or liar's loans. [1]
In finance, subprime lending (also referred to as near-prime, subpar, non-prime, and second-chance lending) is the provision of loans to people in the United States who may have difficulty maintaining the repayment schedule. [1] Historically, subprime borrowers were defined as having FICO scores below 600, although this threshold has varied ...
Nov. 6—Santa Fe will get its first Chase Bank branch in the first quarter of 2024 in the former Kimberly's Hallmark Shop location, 2002 Cerrillos Road, Suite H, in the College Plaza shopping center.
Apr. 15—Homewise, the New Mexico-based community finance institution, says it plans to use a recent philanthropic investment for a small-dollar loan credit-building program to help its clients ...