Looking for a non-income based lender

3 Replies

When you say non income, my answer will be no. There is no such thing. If there is no income, either from the person or the property, you will have a very hard time selling someone on giving you a refinance.

If you just mean that you as a person don't have W-2 income, that is different. Do you have tax returns that show you are earning money from other investments? Is the property itself making money as a rental and is more than capable of cash flowing even after a refinance? If this is the case, then yes. There are institutions that will lend to you.

I think we need more information than you are giving.

Hello. Thanks for the feedback. I am not sure of the terminology to use. I am looking for a product that would allow us to use our assets instead of W2 income to refinance our personal property. I understand that asset depletion is one such product (which we are open to). I wasn't sure if there were other creative solutions as well. This will not be a rental so the property itself would not earn income. We would have bank statements, 401(k) statements, tax returns, etc. that would show our current assets. If you need more information, please let me know. Thanks!

@Lynn Gallagher there are absolutely lenders that will lend with no income on rental properties.  Meaning, either they will lend on the cash flow of the property or based on your personal networth type of thing.  However, on your primary home it will be more strict as there are a lot more federal compliance rules involved.  What type of property are we talking about?  Is it your primary home?