The annual percentage rates on these loans are generally much higher than the annual percentage rate to be found on a traditional loan. It is therefore very important for any prospective borrower to fully understand all terms and conditions of the no income no asset loan before they sign any loan paperwork.
NINA loans are making a comeback and are now available through certain lenders. nina stands for No Income No Asset verification and the NINA loan has been popular with small business owners before the lending industry went through its most recent financial crisis.
Little-known rules can help people on a fixed income refinance an existing. Typically, a borrower needs to show enough work-related income to repay the loan.. Assets that can be counted under these rules include retirement accounts such as. However, if you pay closing costs from a taxable or non-retirement account,
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