No Doc Loans
No Doc loans are a simple solution in an increasingly complex mortgage market. We are one of the largest
offering loan programs which are collectively referred to as No Documentation
loans. These loans are intended to assist borrowers obtain mortgage
financing of their home or investment property when their income, employment, or assets are
difficult to verify.
loans generally fall into three categories:
No Doc loans require no employment, income, or assets to be stated on your
loan application. We do not verify any information beyond your credit profile
and the value of the property. 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 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 readily available.
A No Ratio loan is 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 mortgages 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.
Occupancy types allowed
No Doc Loans 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. The stated income loan program can be used with our
Learn more about
no doc loans closing costs.
I have a page on calculating your qualification ratios.
I have a page on traditional documentation
Wealthbuilder presentation and learn the safe way to manage your home equity
and fund your retirement using No Doc Loans
I offer an analysis of
your situation today can make suggestions on how small changes in how
your mortgage is structured today can have a life changing effect in the years
to come. Read more
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Prequalify for your No Doc Loans