Investing w/ no current income - Posted by Steve M

Posted by Tammy Krause on January 31, 2001 at 15:24:12:

Do you lend in ohio ?

Investing w/ no current income - Posted by Steve M

Posted by Steve M on January 27, 2001 at 11:48:06:

I recently lost my job and only source of income. I own my own home, have little debt, and have a substantial investment portfolio. My occupation requires me to move to find new work, but I want to stay here and invest in real estate instead. Question: How can I finance my purchases without any income? Can I get a mortgage based on my credit (excellent) and net worth alone? This issue is stopping me dead in my tracks from moving forward, and I have no idea of the answer. Can anyone help? Thanks in advance!

Re: Investing w/ no current income - Posted by Ed Garcia

Posted by Ed Garcia on January 27, 2001 at 20:29:28:

Steve,

It depends on your credit and your deal. For example I have one investor that with a 675 credit score or better. You don’t even have to put the income on the application or show proof of down payment. Also there are many lending programs to assist you in this area. For example: there’s Stated Income ( the lender accepts the income you stated on you application), NIQ (none income qualifying), NIV (none income verification) Easy Doc, Lite Doc, No Doc, etc. So Steve, if you would like I would be more than happy to assist you if you are in one of the 42 states I lend in.

Now go find a deal,

Ed Garcia

Re: Investing w/ no current income - Posted by Karen in FL

Posted by Karen in FL on January 28, 2001 at 14:03:43:

Ed, do you loan in Florida?

Re: Investing w/ no current income - Posted by Ed Garcia

Posted by Ed Garcia on January 28, 2001 at 22:04:40:

Karen,

Yes I do.

Ed Garcia

Re: Investing w/ no current income - Posted by Lee Wentker

Posted by Lee Wentker on January 30, 2001 at 24:44:56:

Ed, Howabout NC? My credit score is over 675, I am a real estate investor, and even w/o my current income from my occupation, my debt/income ratio is 46%. Also, would you allow a seller to carryback a 2nd in lieu of partial or all down payment?

Re: Investing w/ no current income - Posted by Ed Garcia

Posted by Ed Garcia on January 30, 2001 at 11:57:07:

Lee,

Sorry, I don’t lend in North Carolina, but that doesn’t mean I wouldn’t help you. Any time you would like to get a second opinion with regards to working your deal, fee free to come to this site or call me at (909) 944-011.

Ed Garcia