• Kings of Capital

No Income Verification Loans for Brokers

Attention Brokers: There's a Middle Ground Lender Between Conventional Banks and Hard Money.

Whether you're a Seasoned Veteran, or just starting out in the mortgage industry, every broker has experienced this painful moment: you have assured your client that you will do everything in your power to get their loan funded, then you find out that the bank has turned them down. It's at this point you have to break the frustrating and disappointing news to your client. But perhaps the worst part, is that you feel clueless on where to take the deal next. If the banks are out, where can you turn to get the loan funded?

Most brokers think the only remaining options are to either deny the client funding altogether, or submit the deal for a "hard money" loan. Hard money loans entail high interest and fees, are almost always completely dependent on collateral, and typically have a quick balloon payment. This option can be a rather unappealing option for borrowers.

Before you skip to this step, you should know that there is a third option, a middle ground, between traditional lenders and hard money, in the form of No Income Verification lenders. Here are a few things you need to know about these lenders and how they can benefit your clients (not to mention your own revenue stream):

Who is a Candidate for a No Income Verification Loan?

No Income Verification lending is perfect for those applicants who don't quite meet the stringent income, credit, and net worth standards of traditional banks and other A-paper lenders. Ideal clients may not have perfect credit, but they also do not have the type of serious credit history issues that would lead to a hard money loan being their only option. In other words, the perfect candidate is usually the "in between" client, aka the client you often aren't sure how to help.

You as a broker know that while your clients may understand they do not qualify for a traditional loan, they will still want competitive rates and terms. Kings of Capital is a No Income Verification lender that offers borrowers with average to marginal credit, business purpose financing. These specific loans are given to borrowers purchasing or refinancing an investment residential property, multi-family dwelling, mixed-use office, retail space, warehouse, or other commercial buildings.

What are some of the Perks for Borrowers?

No Income Verification lending offers several perks and benefits for borrowers. One of the biggest benefits of working with lenders like Kings of Capital is that we DO NOT verify income, and don't require tax statements, or pay stubs, which makes us great for self-employed individuals, or business owners. Another major benefit is that a No Income Verification Lender usually offers a much lower interest rate and fees than those charged by Hard Money Lenders. Kings of Capital's rates are as low as 6.74%, and we charge zero lender points. In addition, No Income Verification Lenders are usually faster, more flexible, and involves less paperwork and hassle than traditional bank loans.

Why do we support No Income Verification Loans?

At Kings of Capital, we find it very troublesome and unfortunate when someone is denied a loan for an unsatisfying reason. Whether it is because the banks are too wrapped up in paperwork and specified requirements that mean that you don’t qualify anyway, or if it is because you cannot afford the high risks of a hard money loan.

Our goal is to help others realize their potential, take control of their wealth, and normalize a positive money mindset in all investors. As a mentor, we want to give aid and guidance in any way that I can.

With Kings of Capital’s No Income Verification loans, there are more options for people stuck in between.

We offer great benefits such as low interest rates and fees, less underwriting, and greater flexibility so that people looking for a specific loan with specific benefits that fit their specific needs can get their project approved and realized.

Now is the time for real estate investing to become more normalized, affordable, and accessible.

How Does No Income Verification Lending Benefit Brokers?

Brokers can also benefit from alternative lending. Instead of turning away clients who do not qualify for traditional loans, you can submit their information for No Income Verification Lender Approval. Your Approved clients will be thrilled that you were able to provide them with a great solution, and that did not resort to hard money, which saved them thousands of dollars. As all mortgage brokers know, happy clients means more referrals and a healthier pipeline.

Plus, if you opt to partner with Kings of Capital, you will have access to our Broker Rebate Program and the potential to reach even higher revenue streams. If your client does not qualify for a traditional mortgage and before you decline them, run their scenario by us and see what we can do to help you and your client achieve their goals. You may be surprised by how many of your clients will actually be a great fit for a Kings of Capital loan.

As a leader in the industry, Kings of Capital is here to help. Register today as a Broker and see just how easy it is to close loans with us, just ask us how and we will help you fast-track your borrowers to their Dreams of Financial Independence. Book a Meeting today to find out more!

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