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True No Doc Mortgage                                                                                                 

True No Doc mortgage products are a simple solution. We are one of the largest brokers offering loan programs which are collectively referred to as True No Doc Mortgage products. True no doc mortgage products are intended to assist borrowers obtain mortgage financing of their home, vacation home, or investment property when their income or assets or employment are difficult to verify. Qualification is based on your credit scores and the property. True No Doc Mortgage products are available for purchase or refinance transactions.

True No Doc mortgage products fall into three categories:

True NO Doc Mortgage

True No Doc mortgage products permit no employment, income, or assets to be stated on your application. No verification of information beyond your credit profile and the value of the property is done. Our true no doc mortgage will allow as little as a 5% down payment on an owner occupied home depending on your credit profile but we will get lower rates with a larger down payment. Rates are 1 to 1.5% higher than conventional financing and are available on both fixed rate and adjustable mortgage products with an interest only option being readily available. If you have recently changed careers or have started a business and can not meet the two year employment test, a true no doc mortgage is the right solution for your situation.

No Ratio Mortgage

While not a true no doc mortgage, a No Ratio mortgage is a good choice if you wish to not state any income as your rate will be less than for a true No Doc mortgage. With no income information, no debt ratios are calculated. However, we will verify 2 years of your employment and your assets. 

Stated Income Mortgage Loan

Again, not a true no doc mortgage but, a stated income mortgage is the least expensive mortgage option in this category. 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 .25% above conventional rates.

Property and Occupancy types allowed

True No Doc Mortgage programs 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.

Please feel free to email me with questions about a true no doc mortgage

Learn more about True No Doc Mortgage Closing Costs

I have a page on calculating your qualification ratios.

I have a page on traditional documentation requirements.

As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your debt is structured today can have a life changing effect in the years to come.  Read more about this free, no obligation service.

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