
No income verification mortgages, also known as stated income loans, are a type of home loan that doesn't require borrowers to provide proof of their income. This type of mortgage is often preferred by self-employed individuals or those with non-traditional sources of income who might not be able to provide the required documentation for a traditional mortgage. Self-employed individuals: Self-employed individuals often have a difficult time qualifying for traditional mortgages because their income may not be consistent from year to year. No income verification mortgages can be a good option for these individuals because they don't require proof of income. Commission-based employees: If a large portion of an employee's income comes from commission, it may be difficult for them to provide proof of their income. No income verification mortgages can be a good option for these individuals because they don't require proof of income. Retired individuals: Retired individuals ...