Lending without proof of income...

10 Replies

Hey guys and ladies, I am looking at purchasing some investment properties in Kansas City. I would like to secure financing with no proof of income. I have 50% down and a credit score of 801. All suggestions and referrals would be greatly appreciated! Thanks.

Might mention what the plan is, short flip, buy and hold, opening up a chain of bordellos, smuggling warehouse, safe house for the KC mob or what.

Indicates the term funds are needed you know...... :)

My recommendation would be to buy commercial investment properties (5 units or more) Commercial loans do not use your income to qualify.

Are there a reason you don't want to show proof of income?

Joe Gore

Originally posted by @Karen Schimpf :
My recommendation would be to buy commercial investment properties (5 units or more) Commercial loans do not use your income to qualify.

Welcome Karen, I see you say you're a CL broker, would you like to explain that a bit more? Are you basically an HML or do you deal with institutional lenders? :)

@Karen Schimpf,

You said that commercial loans do not use your income to qualify. Are you saying you can get a commercial loan without showing income in order to repay the loan? If this is true I have a lot of friends that would like to buy that dont have a job.

Joe Gore

This post has been removed.

So there is a personal guarantee?

Joe Gore

At a 50% LTV many private and hard money lenders will be happy to lend on a wide variety of assets with no income documentation.

Hi everyone. Thanks for all the responses. The lending I am looking for a for buy and hold properties. I am looking for reliable, long term income.


Well, long term and reliable don't really mix well with HMLs or private investors. I'm afraid you're looking for the golden goose and he got killed off a few years ago.

These sources are fine for short term financing needs, you'll need the ability to take these sources out with other financing and such loans will be at a higher cost.

You might find a friend or non-lender who wants a higher rate than they get on CDs and would like an annuity income. There are threads about "finding private money" here.

Keep in mind that after you gain experience as a landlord the rental income will be applied to your income qualifications, usually 75% of rents. That may help in considering future financing.

Conventionally, there are no investor loans on a no income basis or no doc basis.

You may be surprised if you have RE experience, good credit and the cash down, at a bank, it is possible, with related experience, they may count the lease income if a lease is in place. Good luck :)

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