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Low Documentation Mortgage Loans           are currently unavailable                                                                                     

Low Documentation Mortgage Loans are a simple solution in a complex mortgage market. We are one of the largest mortgage brokers offering loan programs such as low documentation mortgage loans. These low documentation mortgage loans are intended to assist borrowers obtain mortgage financing of their home or investment property when their income, employment, or assets are difficult to document. Low documentation mortgage loans are useful tools for self employed individuals. Email Low Documentation Mortgage Loans questions

Low Documentation Mortgage Loans generally fall into three categories:

No Doc Mortgage Loans

No Doc Mortgage loans require or permit no employment, income, or assets to be stated on your mortgage application. We do not verify any information beyond your credit profile and the value of the property through an appraisal. Our no doc lenders will allow as little as a 5% down payment on an owner occupied home or 20 % down on an investment property depending on your credit profile.  If you want to use no doc mortgage loans in a refinance transaction, you are typically limited to 80% of the value of the property. If you have had credit issues in the past you will need to make a slightly higher down payment but I can get the loan done. Rates are 1 to 1.5% higher than conventional financing and are available on both fixed rate and adjustable mortgages with interest only variations also available. Interest only variations are readily available and you may choose fixed rate no doc mortgage loans or arms as your situation dictates.

No Ratio Mortgage Loans

No Ratio mortgage loans are a good choice if you wish to not state any income information as your rate will be less than for a true No Doc loan. Because we do not need income information, no debt ratios are calculated. However, we will need to verify employment and your assets. 

Stated Income Mortgage Loans

Stated income mortgage loans are the least expensive option in this category of mortgages. We will verify your employment and assets, your income is stated on the application but is not verified. Your stated income must be reasonable in light of your occupation and assets. Rates are usually only .500% above conventional rates. There is also a stated income, stated asset variation available as well.

Property and Occupancy types allowed

No Doc Mortgages allow you to purchase or refinance a single family, townhouse or condo. An investment property can be a single family, 1-2 unit, townhouse or condo. Vacation homes also can be a single family, townhouse, or condo.

Learn more about Low documentation mortgage loans closing costs.

I can help with stated income commercial loans

I have a page on calculating your qualification ratios.

I have a page on traditional documentation requirements.

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I hope this information was useful to you. Please scroll down to view my Mortgage Market Guide. A weekly publication explaining the financial markets from a consumer's perspective that is available by email. I have nearly 8,000 subscribers and would be happy to have you as well. Your email address will never be used for any other purpose.

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