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7 States With No Income Tax | GOBankingRates – In addition, Texas’s minimum wage is only $7.25 for 2017, so wages don’t provide much purchasing power even with the income tax break. Washington. With no income tax to rely on, the state of Washington charges a higher sales tax to bring in revenue. At 6.5 percent, the state’s tax rate is among the highest in the nation in 2017.

(Editor’s note [oct. 2014]: Obviously, much has changed since the following article was written in 2006. These days, it is nearly impossible to obtain a no-income verification home equity loan or line of credit (HELOC); lenders will require that you document your income or at least your assets.

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Mortgage alert: Borrowers change how they cheat – That could be more dangerous to the banks, because jacking up a home price only hurts if the home price falls, but inflating income means the borrowers may not be able to pay the loan no. mortgage.

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No Income No Asset Loans Do No Income Verification Mortgages Still Exist? | LendingTree – No income verification mortgages still exist, but they are extremely difficult to obtain.. factors under the new rule to determine a borrower’s ability to repay – their current or reasonably expected income or assets, current employment status, the monthly payment, monthly payments on.

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