The NIV option is also advantageous for borrowers with unacceptable income. For example, a borrower may have a live-in roommate who pays rent for a bedroom. But such “boarding” rents are not acceptable with most lenders, as they are not legal apartments. An NIV program would allow that borrower to qualify for the mortgage, even [...]
The NIV option is most commonly exercised by self-employed borrowers. Because of the nature of entrepreneurship, most self-employed people tend to earn very little income during the first years of their business. Yet even more established and profitable entrepreneurs still report little income on their personal tax returns, as they apply loopholes in corporation tax [...]
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