Applying for Self Employed Mortgage Refinance Is Now Easy Even Without Proof of Income

VICTORIA, Va. - Oct. 27, 2016 - PRLog -- Self employed borrowers seeking bad credit mortgage refinance loan can rejoice as the lenders are making the entire application process simple and quick.

Traditionally, self employed persons were required to furnish proofs of income and cash inflow. After the recession in 2008, the chances for approval for self employed borrowers were further diminished. As such, getting self employed mortgage refinance was a big challenge.

Things have changed for the better in the recent past. Lenders are offering loan programs for self employed borrowers even if their income reported on tax returns is low. It is, therefore, now possible to find mortgage refinance for self employed. And, you don't even need to submit proofs for income verification.

Online lenders such as QKMortgage.com do not ask self-employed persons for tax returns while offering a refinancing mortgage with bad credit. Instead, the loan is based on the income you state. You will however, need to pay an upfront 30% down payment or equity. Also, your FICO score should be at least 600. Anything above that is a plus.

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The stated loans, where you state your income without submitting verification proofs, allow you to get self employed mortgage refinance (http://www.mortgagrefinance101.com/self-employed-mortgage...) for an amount ranging between $125,000 and $ 3 million. If your loan amount falls in this range, you will be approved for the loan.

At QKMortgage.com, you can get mortgage refinance for self employed only for investment purposes. So, you will need to purchase or refinance the property solely for investment and not as primary residence.

As for the application and approval process, it is quick and easy. When you call QKMortgage.com for the first time, your approval comes within 60 minutes. Post this, you are informed about the requirements of the bad credit mortgage refinance loan, if any, within 72 hours.

Self employed borrowers who had been turned down earlier are now constituting a rapidly growing market and lenders are keen to offer various options for refinancing mortgage with bad credit. You can locate lenders both locally and online. If you choose to apply online, be sure to deal only with a genuine dealer to avoid any hassles later.

Small businesses and self employed persons with bad credit can now easily get approved for refinancing mortgage with bad credit to buy any non-owner occupied property. Up to $3 million is available for loan without providing any proofs of income or tax returns.