How to get a loan without proof of income? Massachusetts

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Calculation example: with a loan amount of USD 100,000 at 10% per annum, for a period of 1 year, the total amount to be repaid will be equal to: USD 105,499.06, with a monthly payment: USD 8791.59. The consequences of not paying the loan are regulated by the legislation of USA.

    How to get a loan without proof of income?

    No income loans are types of loans designed for individuals with income that does not come from a source such as a full-time job. These loans usually require that you have enough liquid assets or alternative sources of income to pay off the loan, and the lender must verify these sources.
    For example, if you are not working because you receive monthly payments from a trust your wealthy grandparents set up for you, you have an alternative source of income. If you decide to buy a house, you may need to apply for a mortgage.
    The lender will need to make sure you have enough alternative income to make payments and ultimately determine your ability to pay off your mortgage.
    Lenders review your finances, assets, credit score, distributions, or payments from any other source to determine the level of risk you pose to their firm if they approve your loan. If they are confident that you can refund them, they are more likely to approve your request.