I can arrange up to $1,000,000 Home Equity Line of Credit (HELOC) up to 75% of the property value without any income verification. HELOC can be as first or second mortgage, and based purely on the equity in your home. Rates from 8% in first position, and from 10.95% in second. No pay stub, or tax return required, no upfront fee. Only need mortgage application, and appraisal ordered by the lender. Appraisal paid by the borrower, upon receiving mortgage commitment.
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Another good product is Home Equity Visa. It's registered as a 1st or 2nd mortgage, and can be up to $200,000. Rate 7.99%, and clients get 1% cash back on purchases. For this product lender wants to see business registration, and confirmation that business actually makes money (business bank statements showing deposits, paid invoices etc). Don't need to show tax return.
When you are not qualify with the bank because of the credit or income, you can get mortgage with B lenders. B lenders are also banks, with special programs for clients who have credit problems or income verification problems.
Rates will be around 4.5% for 1st mortgage.
Regular private mortgages from 7.25% in first position, and from 9.9% in second position. No income verification.
We can go up to 95% of the house value with income verification.
Alex Vinarski, Mortgage Specialist, Invis inc.