No-Income, No-Employment Mortgages in Rhode Island
A handful of non-QM lenders offer no-income, no-employment-verification mortgages where the borrower qualifies on credit score, down payment, reserves, and property value alone. No pay stubs, no tax returns, no employer letter. Pricing is meaningfully higher than full-doc, but for borrowers with strong balance sheets and atypical income these programs unlock financing that would otherwise be unavailable.
Rhode Island at a glance
- Major metro
- Providence
- 2026 conforming loan limit (1-unit)
- $832,750
- High-cost counties
- No
- Active matching programs
- 19
Who it's for
Retirees with strong asset bases, high-net-worth buyers between jobs, beneficiaries of recent inheritance or asset transfer, and borrowers whose primary income is unstructured (crypto gains, options income, capital distributions).
Programs available in Rhode Island
FHA Mortgage Program
confirmed 5/18/2026An FHA 30-year fixed purchase program offering 101.5% CLTV, including 5% down payment assistance to help cover closing costs.
Non-QM Mortgage Program
confirmed 5/14/2026A non-QM loan program for primary and second homes that requires no income or employment verification.
Non-QM Mortgage Program
confirmed 5/13/2026A zero-down financing option that allows for up to 101.5% LTV to cover closing costs, with no income cap and no requirement for first-time homebuyer status.
Asset-Qualifying Mortgage
confirmed 5/13/2026An asset-based loan program that allows borrowers to qualify by converting liquid assets into a usable income stream, eliminating the need for traditional income or employment documentation.
Non-QM Mortgage Program
confirmed 5/28/2026A zero-down financing program for primary residences that allows for up to 101.5% LTV to cover closing costs, with no income caps and eligibility for 2-unit properties.
FHA Mortgage Program
confirmed 5/20/2026A simplified refinance process for existing FHA loans that requires no income verification or appraisal to help borrowers secure a lower interest rate.
FHA Mortgage Program
confirmed 5/13/2026An FHA 30-year fixed purchase program offering 101.5% CLTV, including 5% down payment assistance to help cover closing costs for primary residences.
Asset-Qualifying Mortgage
confirmed 5/17/2026An asset-based income qualification program for primary, second, and investment properties that allows borrowers to use liquid assets to qualify without traditional employment income.
ITIN Mortgage Program
confirmed 5/14/2026Non-QM loan program for ITIN borrowers, DACA recipients, permanent residents, and US citizens with flexible income documentation and no DTI cap.
FHA Mortgage Program
confirmed 5/14/2026FHA and VA loan programs available with credit scores as low as 500, including options for no credit score and streamlined refinances with no income or employment verification.
Non-QM Mortgage Program
confirmed 5/12/2026A no-income, no-doc, no-ratio loan program designed for borrowers who do not meet traditional underwriting guidelines. It supports purchase, rate/term, and cash-out transactions with loan amounts up to $3M.
FHA Mortgage Program
confirmed 5/11/2026FHA streamline refinance program requiring no income documentation with FICO scores starting at 580.
Non-QM Mortgage Program
confirmed 5/10/2026A zero-down financing program that allows for up to 101.5% LTV to include closing costs, with no income cap and no requirement for first-time homebuyers.
Non-QM Mortgage Program
confirmed 5/10/2026A zero-down financing program that allows for up to 101.5% LTV to cover closing costs, available to both first-time and repeat homebuyers with no income caps.
Non-QM Mortgage Program
confirmed 5/10/2026A 101.5% financing program that allows for closing costs to be included in the loan amount, with no first-time homebuyer requirement and no income caps.
Non-QM Mortgage Program
confirmed 5/9/2026A no-income, no-employment verification loan program for primary and second homes with no cash-out seasoning requirements.
FHA Mortgage Program
confirmed 5/9/2026FHA Streamline refinance program requiring no income documentation for eligible borrowers.
Non-QM Mortgage Program
confirmed 5/9/2026A zero down payment mortgage program that allows for up to 101.5% financing to cover closing costs, with no income cap and a minimum FICO score of 600.
Non-QM Mortgage Program
confirmed 5/15/2026A closed-end second lien loan option that supports various income documentation types or DSCR qualification for cash-out needs.
Frequently asked questions
Is this the same as asset-qualifying / asset depletion?
No. Asset-qualifying converts asset balances into qualifying income on the application. NIVA / no-income skips income calculation entirely - approval is based on FICO, reserves, down payment, and property value.
How high is the rate compared to full-doc?
Typically 1-2% higher than a comparable full-doc loan. The premium reflects the absence of income verification.
What FICO do I need?
Most NIVA programs require 680-700+. A few accept down to 660 with stronger reserves or lower LTV.
Can I use this for cash-out?
Yes on most programs, typically at 5-10% lower LTV than purchase. Cash-out NIVA is popular with investors wanting to access equity without re-documenting income.
Get a rate for Rhode Island
Pricing for Providence and the rest of Rhode Island. No personal information required.
Get instant pricingToday's mortgage rates
Conventional
5.875%
5.906% APR
FHA
5.375%
5.405% APR
VA
5.375%
5.402% APR
Conv: 80% LTV, 780 FICO. FHA: 96.5% LTV, 680 FICO. VA: 100% LTV, 680 FICO. 30-yr fixed. Your rate may vary.