Noni Loan: Review & Everything You Need To Know

The NONI loan is an innovative business-purpose loan.

NONI stands for non-occupant, no-income. Qualification for the loan is not based on the borrower\’s income but on the cash flow, the property produces. This is known as the debt-service coverage ratio, or DSCR.
The loans have variable interest rates that will be used to determine what you owe. It is always best to get familiar with the interest rates of whatever you are going for so you will know what you owe in the end.

Key Facts About The Noni Loan

Some of the things worth knowing about the Noni Loan program include:

• Multipurpose LLC are allowed
• The start rate is reduced to 8.25%
• It is available in all 50 States across America
• the NONI Allows Foreign Nationals
• Loan Amounts up to $3.5 million
• $2 million cash-out up to 65% LTV
• FICOS As Low As 620
• First Time Investors now allowed
• No 4506T, Tax Returns, W-2s or Paystubs
• No LTV Restrictions on 2-4 units
• LTV’s up to 80% (min 700+ fico)
• You can also use above-market rents with supporting documentation
• As little as 0 months reserves

The system is designed for business purposes 1-4 unit residential loans. You do not need any income or employment for the loan collection and no 4506T, Tax Returns, Transcripts, W-2s or Paystubs.
Qualification is not based on borrower income but on property cash flow and they take 100% of rents, not 75% & will use higher of rents off 1007 or rental agreement.

If you need any more information, do well to check the website on thenoniloan.com.