The Different Requirements of Getting a Non-Income Verification Loan

As the name suggest non-income verification loan is loan which you can get even if your income has been not verified. Getting non-income verification loan is not that easy. It mainly depends on two things.

• You credit worthiness
• Value of the Property 

Requirements 

• If you have god credit history don’t worry you can get the loan easily
• Down payment

This is a very important part of non-income verification loan, you have to pay certain amount of down payment. It is generally 25%-30% of total value.

• You may need to show income tax records of past two years or profit and loss statement if you are a business man.
• For salaried employees you may need to show continuous employment for 2 years in same industry. 

Requirements differ from lender to lender but your credit worthiness remains the maim stipulation. These loans can be very risky as you are generally taking loan of amount which you cannot take by showing your income.