NO income loans

NO INCOME/ NO ASSET/ NO EMPLOYMENT LOANS These type of loans still do exist in today's market. They are primarily geared for people that cannot get financing but either have equity or putting a large down payment. I do not recommend these loans to my clients unless they plan on paying off the loans in five years or less. The rates are on the high side due to the risk factors the bank takes to complete the loans. Rates will vary from 7.875%-9.25% 30 year fixed. Short term Arm loans fixed for three to five years have a lower interest rate. 35% down payment is required to complete the loan