5-Star Google Review for Brightwire:

Five Stars
“My loan was cleared for closing in only 12 days and I skipped two payments.
The whole process could not have gone any smoother/better!” - Teaneck Resident

What is a no income documentation loan?

A No Income Documentation loan program allows qualified borrowers to purchase their primary residence without needing to provide proof of any type of employment or other income. This loan option will require at least 20% down payment and 12 months or more of reserves (funds leftover in your bank account after closing).


How do I qualify for a no income documentation loan?

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  • Have a minimum of 20 - 30% of the purchase price for down payment (depending on your credit score).
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  • Have at least 12 months of reserves in assets after closing.
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    What else should I know about a no income documentation loan?

  • The interest rate for this loan program will be about 3% higher than a conventional loan.
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  • There are no prepayment penalties for primary residence purchases.
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  • We recommend this loan as a short-term strategy to acquire a new property or if an emergency cash-out refinance is required.
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  • We always recommend refinancing to a different loan type (with a lower interest rate) whenever possible.
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