What is a No Income Mortgage Program

MARCH 1, 2022


No Income Mortgage programs were built for many entrepreneurs that do exceptionally well in their business, but simply do not have a stable income over the years, with drastic fluctuations. So how exactly can business owners with unstable income apply for a mortgage? 

A program was born specifically to these people and they called it a No Income Mortgage. Some people on the other hand call it Stated Income Mortgage.

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No Income Mortgage

No income mortgages allow borrowers to qualify for a loan through a different documentation process when compared to traditional mortgages. The vast majority of mortgage lenders will ask borrowers for many different documents, such as tax returns and income. No income verification mortgages take a different route and they take into account other aspects of a borrower, such as home equity, total assets, and their cash flow. No income programs have different variations, which are:

SISA: Stated income, stated asset loans, which are mortgages made without verifying a borrower’s assets or income.

SIVA: Stated income, verified assets are loans for lenders that base the mortgage on assets to be approved.

NIVA: No income, verified assets are the same as SIVA loans, except the income is not included in the application.

NINA: No income, no assets loans are not for the typical borrower, as they are used by real estate investors buying rental properties in which rent can cover the mortgage.

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Who Uses No Income

The majority of borrowers who use no income programs are self-employed and do not have an easily verifiable income, extensive tax returns, or do not want to provide the documents. There are many reasons why entrepreneurs may want to go with no income program, such as they have had a business expense write off that decreased their income significantly, their income declined recently due to a change in contracts with their clients, they changed industries, or if they are real estate investors who can qualify for a home loan without documentation based on the projected rent.

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Who Else Can Get Qualified

Another interesting borrower who may be qualified for a no-stated income program are individuals with a high net worth, but no job. The typical borrower, in this case, is someone who may have sold their business in which they have worked on for 20 years and are now asset-rich, but technically have no day-to-day job.

Best Tip:

No Income Mortgage Program are best for real estate investors. We can go as low as 15% down and no income verification! Start your pre-approval today and find out more.


There may be better options for borrowers than a No Income Mortgage. With mortgages, every borrower is a unique case. FHA or Conventional might be a better option. In some situations, borrowers might think that they won’t be eligible for an FHA or Conventional loan, but on the other hand, we might be able to help by using for example (overtime, Social Security, Pension, Alimony, or any other source of income as a qualified income). A mortgage loan officer is the best resource to find the best option for you and can help you decide on the best course of action.

You Still Have Questions or Want to Find out More?

At Best Mortgage, we always strive to give our borrowers the best solutions with our extensive network of lenders and devoted loan officers. We make the application process as easy as possible and our team is dedicated to helping our borrowers in achieving their dream of homeownership. Our loan officers are always ready to help you navigate the mortgage preapproval process. For more information call (734) 519-1827.


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