Most lenders only offer No Doc loans and Stated Income loans up to the conforming limit of $417,000. At Carteret Mortgage, we consider ourselves experts in reduced documentation loans including jumbo no doc loans and we are now able to offer Jumbo No Doc loans above the conforming limit.

This series of jumbo no doc loans is designed for individuals, frequently self employed, who do not choose to document either their income, employment, or assets and need loan amounts up to $1,000,000. Unlike jumbo loans in the conventional world, jumbo no doc loans and jumbo stated income loans do not carry higher interest rates than similar conforming limit products but there are loan to value limitations. Please call or email with the specifics of your situation. Please see below for more information on the No Doc suite of products.

NO Doc Loans

Jumbo No Doc loans require nor allow no employment, income, or assets to be stated on your loan application. No information is verified beyond your credit profile and value of the property. We allow as little as a 10% down payment on jumbo no doc loans. If you have past credit issues you will need a slightly higher down payment but I can still get the loan done. Rates are 1 to 1.5% higher than conventional financing and are available on both fixed rate and adjustable mortgages. More detailed information on Jumbo No Doc Loans.

No Ratio Mortgage

A No Ratio loan is a good choice as you do not state any income information and your rate will be less than for a No Documentation loan. Because we do not need income information, no debt ratios are calculated. We will however, need to verify employment and assets. More on No Ratio Mortgages.

Stated Income Mortgage Loan

Stated income mortgages are the least expensive option. We verify employment and assets, income is stated on the application but not verified. Your stated income must be reasonable for your occupation and assets. Rates are usually only .500% above conventional rates. More on Stated Income Mortgages.

Property and Occupancy types

No Documentation Loans allow purchasing or refinancing a single family, townhouse or condo. An investment property or Vacation home is acceptable.

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