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About Refinancing a No Income Investment Property

Can I refinance an investment property with no provable income but have a middle credit score of 640?

Can I refinance an investment property with no provable income but have a middle credit score of 640? And also can one use their bank statement to prove deposits for possible proof of income?

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Bill's Answer
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It is possible for you to refinance your investment property, even though you are in a 'non-prime' category with a middle FICO score of 640. You will probably want a 'NINA' or "No Income, No Asset" loan, which basically lets you state your income and assets instead of verifying them with full documentations (a full doc loan).

You likely are aware, but NINA loans are riskier, and therefore typically reserved for prime borrowers. Without knowing more about your situation, it will be difficult to definitively tell you if you will qualify or not, since there are many factors (DTI, LTV in addition to credit) that go into a loan decision.

Your total debt level, and your debt to income ratios will definitely impact your ability to obtain a refi loan. However, they are not the only factors.

Credit rating is a major factor in making a loan decision, and if you are able to prove that you can repay those debts, it could benefit you - although, as stated, with a middle score of 640 you are a non-prime borrower.

Additionally, accumulated equity or could provide cushion in an LTV (loan-to-value) calculation, could help to get you approved. Also, your income will be a major (possibly the most important factor) as it will determine your DTI (debt-to-income ratio). Most of all, it cannot hurt to apply and see what lenders think of your own situation. makes it easy to compare mortgage offers and different loan types. Please visit the loan resource page and find a loan that meets your needs.

I hope that his helps you make the right decision for your particular situation, but be sure to shop around and find a loan that meets your needs.

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