How do you qualify for a NINA loan?

You’ll need a higher credit score to qualify. Current NINA loan programs require at least a 575 credit score. Some NINA lenders may require a higher score, or charge you a higher rate for lower scores. You’ll need a bigger down payment. Expect to make at least a 20% down payment or more.

Can I refinance without proof of income?

Most refinance options require you to have adequate income, but there are exceptions. The FHA streamline does not require income verification. You may be required to prove you are still working, but the income from that job need not be verified. And, no appraisal is required.

Is CreditNinja a legit company?

Absolutely! CreditNinja is a reputable and trustworthy online lender, offering personal installment loans to borrowers in need. We are a top-of-the-line lender that offers online personal installment loans for borrowers with lower-than-average credit scores. …

Can I get a loan if I just started working?

Technically speaking, you don’t have to be employed to qualify for a loan. If you are newly employed and don’t have a cosigner, your ability to get a loan will depend on the lender’s criteria. In some cases, a lender may require you to have been at your new job for six months or even a year before you’re eligible.

What is a low doc loan?

The term ‘Low Doc’ simply is short for Low Documentation. As opposed to a ‘full Doc’ loan which refers to a loan that requires all income, asset and liability supporting documents be provided to the lender as a part of the application process.

What is a low-doc SBA loan?

Currently, the most popular form of financial assistance from the SBA is through the agency’s Low Documentation (“LowDoc”) Program, a derivative of SBA’s long-established guaranteed loan program. Initiated in 1993, LowDoc expedites the procedures for obtaining SBA guarantees on commercial loans under $150,000 (the total outstanding balance of all SBA loans to one customer is limited to $150,000).

What is a no doc home loan?

No Doc Home Loans is basically a term used for mortgage loans that are obtained with fewer documents than a full doc loan. Contrary to what the name suggests, a borrower does need to provide a small amount of documents that are required however it is minimal compared to what the banks require on a full doc loan.

What is a low document mortgage loan?

Low-documentation or no-documentation loans allow borrowers to apply for a mortgage loan without the need to provide extensive financial documentation . Usually, getting a mortgage involves a lot of paperwork. You need to document your income by providing pay stubs, W2 forms, tax returns, statements from various accounts, and more.