No Ratio Loans: Mortgage Approval Based on Your Wealth, Not Income

No Ratio Loans, also known as No Income Verification or Stated Income Loans, are a type of non-QM mortgage that doesn't require borrowers to provide extensive income documentation like tax returns or pay stubs. Instead, they rely on your assets and credit history to assess your ability to repay the loan.

No Ratio Loans are ideal for:

• High-Net-Worth Individuals: Those with significant assets but may not have traditional income streams (e.g., retirees, investors).
• Business Owners/Self-Employed: Individuals whose income fluctuates or is difficult to document with traditional tax forms.
• Real Estate Investors: Those who want to leverage their property assets for financing.
• Trusts: Trusts with substantial assets but limited income documentation.

No Ratio Loans offer several benefits:

• Privacy: You don't need to disclose detailed income information.
• Flexibility: Less stringent income documentation requirements.
• Faster Approvals: Streamlined underwriting process, often resulting in quicker decisions.
• Focus on Assets: Leverage your existing wealth to qualify for a mortgage.

While specific requirements vary, common criteria include:

• Good Credit History: A solid credit score is crucial.
• Sufficient Assets: Demonstrate substantial assets in bank accounts, investments, or real estate.
• Large Down Payment: Typically 20-30% or more.
• Reserves: Lenders may require cash reserves to cover mortgage payments.
• Property Appraisal: A professional appraisal to determine the property's value.

Ameritrust Mortgage offers a range of No Ratio Loan programs:

• Asset Depletion Loans: Use assets to qualify, ideal for retirees and high-net-worth individuals.
• Asset Utilization Loans: Leverage your investment portfolio to secure financing.
• Investor No Ratio Loans: Designed specifically for real estate investors.

Interest rates for No Ratio Loans can be slightly higher than conventional mortgages due to the increased risk associated with less stringent income verification. However, Ameritrust Mortgage offers competitive rates and flexible terms.

As with any loan, there are some risks to consider:

• Potentially Higher Interest Rates: Due to the flexible underwriting.
• Higher Down Payment Requirements: Typically require a larger down payment.
• Stricter Asset Requirements: Need to provide substantial documentation of your assets.

• Applying is easy. Contact Ameritrust Mortgage to discuss your needs and goals. Our experienced loan officers will guide you through the application process, help you gather the necessary documentation, and work with you to find the right No Ratio Loan for your unique financial situation.