Our client, a seasoned real estate investor who just retired in Los Angeles, California, wanted to move to Florida. He was under contract to purchase a high-rise penthouse in Miami Beach.
However, given his recent retirement, he was not able to show 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 his DTI ratio was not even calculated, hence why the program is called “no ratio.”
We were able to close his loan at 75% loan-to-value.
Thanks to this unique loan program, he is now a Florida resident, enjoying unobstructed ocean views.
Interested in seeing if the no-ratio program is a good fit for your loan scenario? Contact us here.