NONI = No Income, No Asset verification. The property qualifies — not your W-2s, tax returns, or bank statements. Built for investors who don’t fit conventional boxes, including foreign nationals.
- Up to $3.5M loan amounts
- 85% LTV on purchases (700+ FICO)
- Zero ownership seasoning on cash-out refi (DSCR 1.15+)
- No income docs, no employment verification, no asset docs
- Foreign national program — no U.S. credit history required
- Close in your LLC or personal name
When NONI Beats a Standard DSCR Loan
DSCR qualifies on the property’s rental income. That works great — if the property cash-flows today. NONI is what you use when it doesn’t, or when you need something DSCR can’t do:
- The property is new construction, rehabbing, or temporarily vacant
- You’re a foreign national with no U.S. credit or income
- You need a loan above $2M (most DSCR programs cap there)
- You want cash-out with zero ownership seasoning
- You’re pulling >$500K of cash out (many DSCR programs cap cash-out)
- You have strong assets but a complex tax situation
If the property does cash-flow and you’re under $2M, standard DSCR is usually cheaper. NONI is the tier above — more flexibility at a slightly higher rate.
Program Variants
Standard NONI
| Feature | Details |
|---|---|
| Loan amounts | $100,000 – $3,500,000 |
| Minimum FICO | 620 |
| Purchase LTV | Up to 85% (700+ FICO) |
| Cash-out LTV | Up to 75% (700+ FICO), 70% (660+ FICO) |
| Rate/term refi LTV | Up to 80% (700+ FICO), 75% (660+ FICO) |
| DSCR minimum | 1.0 property-level |
| Ownership seasoning | None (1.15+ DSCR) |
| Cash-out limit | Unlimited |
| Term | Up to 40 years fully amortized |
| Property types | 1–4 unit residential, including 2–4 units with no LTV restriction |
| Reserves | As low as 0 months (when property cash flow qualifies) |
| Income docs | None — uses actual rents received |
SuperNONI — Low DSCR Properties
| Feature | Details |
|---|---|
| Loan amounts | Up to $2,000,000 |
| Minimum FICO | 680 |
| LTV | Up to 80% |
| Property type | Long-term rentals only |
| DSCR | 0.75–0.99 range with asset depletion allowed |
Foreign National Program
| Feature | Details |
|---|---|
| Loan amounts | Up to $1,500,000 |
| Purchase LTV | Up to 75% |
| Refinance LTV | Up to 65% |
| Credit | No U.S. credit history required |
| Income | No U.S. income or employment required |
| Property type | Investment properties only |
| Reserves | Foreign-held accounts accepted (with documentation) |
Who This Is For
- Real estate investors scaling a rental portfolio
- Self-employed borrowers with tax returns that don’t tell the whole story
- LLC- and entity-held property owners
- Foreign nationals investing in U.S. real estate
- Investors doing cash-out refinances with no seasoning to recycle capital fast
- Borrowers who need loan amounts above standard DSCR limits ($2M+)
- Fix-and-hold investors transitioning off hard money
Real Scenarios
1. Cash-Out With Zero Seasoning
An investor bought a fourplex in Phoenix for $620,000 cash two weeks ago. Rents are $5,400/mo. He wants capital for the next deal now.
- Appraised value: $640,000
- Cash-out: $480,000 (75% LTV)
- PITIA: $3,800/mo → DSCR 1.42
- Seasoning required: None (above 1.15)
- Result: $480K pulled out, no 6-month wait
2. High Loan Amount, Complex Tax Returns
A business owner in Orange County is buying a $1.8M duplex. Strong credit, but tax returns show minimal income due to deductions — conventional won’t work.
- Down: $270,000 (15%)
- Loan: $1,530,000
- Rents (both units): $12,500/mo
- PITIA: $10,800/mo → DSCR 1.16
- Result: Approved with zero tax returns, no W-2s, no employer verification
3. Foreign National — First U.S. Rental
A Canadian investor is buying an $850K SFR rental in San Diego.
- Down: $212,500 (25%)
- Loan: $637,500
- Rent: $4,800/mo
- PITIA: $4,200/mo → DSCR 1.14
- Result: Approved with no U.S. credit, no U.S. income. Reserves verified from Canadian bank accounts.
NONI vs. DSCR vs. Conventional Investor
| Feature | NONI | Standard DSCR | Conventional Investment |
|---|---|---|---|
| Max loan amount | $3.5M | $1.5–2M | Conforming |
| Income docs | None | None | W-2 + tax returns |
| Ownership seasoning (cash-out) | None (1.15+) | 6+ months typical | 6–12 months |
| Purchase LTV | Up to 85% | Up to 80% | 75–85% |
| Cash-out limit | Unlimited | Program-dependent | Often capped |
| Foreign nationals | Yes | Rarely | No |
| LLC vesting | Yes | Yes | Typically no |
| 40-year term | Yes | Some | No |
| Min FICO | 620 | 620–660 | 620–680 |
Requirements Summary
- Credit: 620+ standard, 680+ SuperNONI
- Down payment: 15–25% on purchase (varies by FICO and program)
- Property types: 1–4 unit residential investment
- Occupancy: Investment only (no owner-occupied)
- DSCR: 1.0 standard, 0.75+ with SuperNONI asset depletion
- Loan amounts: $100K – $3.5M
- Reserves: As low as 0 months when property cash flows
- Documentation: Rental income only (1-month minimum)
Why 1st Nationwide Mortgage
- Investor-focused lending since 2005, NMLS #1281
- Direct access to premium non-QM programs not offered at retail banks
- Licensed in 18 states (DSCR) and 49 states (NONI-based products)
- Specialists who close investor deals — not generalists reading a script
Related Programs
- DSCR Loans — Standard investor loans qualifying on property cash flow (use when rent already covers payment)
- Bank Statement Loans — Self-employed-friendly loans using business deposits instead of tax returns
- HELOC & Home Equity Loans — Tap primary-home equity to fund the next deal
- Jumbo Mortgages — High-balance financing above conforming limits
Frequently Asked Questions
No Income, No Asset. It’s a non-QM investment-property loan that qualifies on the deal — property value, rent, credit, reserves — not your personal income or assets. You provide zero tax returns, W-2s, pay stubs, or bank statements.
NONI is the premium tier above standard DSCR. Key differences: higher loan amounts (up to $3.5M vs $1.5–2M), no ownership seasoning on cash-out (vs 6+ months), higher purchase LTV (up to 85% vs 80%), unlimited cash-out, and a dedicated foreign national track. If the property cash-flows and you’re under $2M, standard DSCR is usually cheaper. NONI is for everything DSCR can’t do.
No. The foreign national program requires no U.S. credit history, no U.S. income, and no U.S. employment. Reserves can be verified from foreign-held accounts with appropriate documentation. Investment properties only.
Yes — this is one of the signature features. With DSCR at 1.15 or higher, there’s no ownership seasoning requirement on cash-out. Buy, stabilize, refi out capital, and repeat — no 6-month wait.
1–4 unit residential investment properties: SFR, duplex, triplex, fourplex. 2–4 unit properties have no LTV restriction on the standard program.
Yes. Personal name, LLC, or trust — all allowed. Most investors use an LLC for liability and privacy.
A variant for long-term rentals where the DSCR is between 0.75–0.99 — usually because rent is just below the payment. SuperNONI allows asset depletion to qualify (680+ FICO, up to $2M, 80% LTV).
No. Unlike conventional loans (capped at 10 financed properties), NONI has no property-count limit. Each property qualifies on its own merits. Ideal for portfolio investors.
Rates are higher than conventional or standard DSCR because of the reduced documentation — typically 1.5–3% above conventional. Call (833) 350-9185 for a same-day quote on your scenario.
Typical: 21–30 days from file acceptance. No income or asset verification means far fewer conditions than a conventional loan.
Check Your NONI Options
60-second form. No credit impact. No obligation. We’ll tell you exactly which NONI variant fits your scenario and quote your rate.
Check Your NONI Options Talk to an Investor Specialist — (833) 350-91851st Nationwide Mortgage, NMLS 1281. NONI loans are non-QM investment property loans. Loan programs subject to credit and documentation requirements. Not all applicants will qualify. Investment properties only.
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