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Updated about 9 years ago on . Most recent reply

User Stats

249
Posts
73
Votes
Rod Desinord
  • Real Estate Agent
  • Pompano Beach, FL
73
Votes |
249
Posts

**Is there such a process of refinancing without income verifying

Rod Desinord
  • Real Estate Agent
  • Pompano Beach, FL
Posted

I ask this because if I have a Hard Money Loan and I wanted to refinance can I do that without having to provide income verification? Credit score is awesome just wondering if that is something that's common?

Most Popular Reply

Account Closed
  • Investor / Real Estate Agent
  • Miami, FL
55
Votes |
81
Posts
Account Closed
  • Investor / Real Estate Agent
  • Miami, FL
Replied

As Charlie mentioned, stated income is your best option. You state your income without having to provide documentation to back it up. Rates will likely be higher than a standard loan, but you get your money. 

    "A stated income loan is a mortgage where the lender does not verify the borrower's income by looking at their pay stubs, W-2 (employee income) forms, income tax returns, or other records. Instead, borrowers are simply asked to state their income, and taken at their word."

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