No Tax Return BRRRR Loan
Yes, this is real.
- No Seasoning (Cash Out requires 6 months)
- No Income Verification
- No Tax Returns
- No Debt-to-Income Ratio
They used to be called “Stated Income” loans, and were popularly nicknamed “Liar Loans”. Now, we don’t even ask for your personal income, we just focus on the property income. No lying required.
Your FICO credit score is absolutely critical. The higher your score, the lower your rate.
The lower your Loan-to-Value, the lower your rate.
- The short seasoning requirement makes this great for the BRRRR strategy
- No Tax Returns makes it great for investors with great credit, but who write everything off on their tax returns. (Or those who just haven’t filed yet)
- No DTI helps everyone who already has rentals, but now the bank doesn’t like your ratios any more.
- Just quit your job to do real estate full time? Congratulations! We can still do loans for you.
- You get to close directly in your LLC too!
The lowest base rate is 3.875%. Your rate is based primarily on your FICO credit score, Loan-to-Value, and property cashflow. There are a few other factors, but those are the big ones. Most borrowers are around 4.50% percent. You can download the flyer below to get the specific rate for you.
You can even buy down the interest rate to as low as 3.75%. That’s a great rate for your long term hold properties. The buy down costs 3x the rate reduction in points up front. So if you reduce the rate by 1%, it costs 3 points at closing. It’s a 3 year payback, so if you’re holding longer than that it’s worth serious consideration.
Everyone always wants to know the specifics, so download the flyer below with the rate tables and all the key nitty gritty details. Here are the really important ones to know.
Cash out requires 6 months seasoning.
- FICO Credit Score is critical
- LTV matters
- Property cashflow matters
These items will directly impact your loan.
- No Seasoning
- No Tax Returns
- No personal DTI (debt-to-Income) calculation
- No Employment Verification
- No limits on the number of loans
- No need to close in personal name
Key Loan Terms
- 1-4 family properties
- Minimum property value $100,000
- 30 year fixed interest rate
- Loan Costs: 2 points + $1990
- Close in your LLC
- Blanket loans are available (Add $990 for each additional property)
Short-term rentals like AirBnB are allowed as a new purchase or a refi without cash out.
Sorry, AirBnB cannot be done as a cash-out refi.
Download the terms and the rate chart. See what interest rate your deal can get.