Our client, a freelancer who wanted to leave California and move to Florida, was under contract to purchase a condo in Miami.
As a freelancer, however, she was not able to show steady income through tax returns.
We placed our client under a very niche loan product known as the “no-ratio program”. This program does not require proof of income. This program also does not require verification of employment.
This was the perfect solution for our client. No income or employment verification was needed, and her debt-to-income ratio (DTI) was not even calculated, hence why the program is called “no ratio.”
We were able to close her loan at 75% loan-to-value.
Thanks to this unique loan program, she is now a Florida resident, trading in her Pacific Coast lifestyle for Miami-style living.
Interested in seeing if the no-ratio program or one of our other creative self-employed loan programs is a good fit for your loan scenario? Contact us here.
