No Doc loans


No Doc Home Loans - Quicken Loans Zing BlogNo doc and low doc loans are very difficult to qualify for in today’s mortgage and financial markets. Because of this, most mortgage companies (including Quicken Loans) don’t offer them at this time. For more information, talk to a Quicken Loans home loan expert. We’ll show you how to obtain the necessary documentation so you can qualify for a full doc loan. Call us today at (800) 654-0068.

The more documentation you provide your mortgage lender (employment, income and credit history) the lower your interest rate may be. Many home buyers choose not to offer documentation for personal privacy reasons, and willingly opt for a higher interest rate. Yet, many of these home buyers have a healthy income, or savings, and a credit history. A no doc (documentation) or low doc loan provides increased ease and privacy when getting a mortgage in exchange for a slightly higher rate.

Buyers that opt for a low doc home loan are typically those who prefer not to have their entire life and financial history presented to the lender. For instance, they might be using an inheritance to secure a loan or have fluctuating income from owning their own business.

Ease is a big factor as well. With a no doc or low doc loan, the borrower provides their name and social security number, along with information regarding the property being purchased. The rest is up to the lender.

No Doc Loans

No Doc loans require the least documentation and are for buyers with excellent credit scores. The buyer provides minimal information (usually social security number and general property information) and the lender does the rest.

Stated-Income (Low Doc) Loans

Stated-Income, or low doc loans, typically attract people who work on a cash or commission basis – people who don’t draw a consistent salary. The borrower will need to disclose earnings, usually for two years, and might need to show tax returns and bank statements.

No Ratio Loans

No Ratio mortgage loans are for borrowers who do not wish to disclose their income; therefore there is no debt-to-income ratio for the lender to consider. The no ratio borrower has good credit and abundant assets that make up for the lender not considering the borrower’s income information. This loan can be a quick and easy process for borrowers that would have difficulty gathering documentation.

Interesting facts

  • A No-Doc or Low-doc loan (abbr: No/Low Documentation Loan) refers to a finance product commonly offered by a mortgage lender to consumers who cannot qualify for normal loan products or do not wish to give up their financial privacy. However applicants require a larger deposit either through equity in security or personal savings.
    Self employed...
  • In the United States, Full Documentation Loan refers to a loan where all income and assets are documented. It is typically referred to as a "full doc" loan in the mortgage industry and is a common type of loan used for financing a home purchase. A list of the various types of loans can be found at Mortgage Loan Documentation.
    Below is a list of...

Additional information


Smal Business Loan - No Doc Commercial Loan
Smal Business Loan - No Doc Commercial Loan
Rapid Unsecured No Doc Small Business Loans
Rapid Unsecured No Doc Small Business Loans
Stock Loans for Real Estate - No Doc Mortgage Alternative
Stock Loans for Real Estate - No Doc Mortgage Alternative
Sulaba Inc Sign Docs
Mobile Application (Sulaba Inc)
  • Access to your own private network through FTP or Google Docs or storage card
  • Organize the customer, project-based template pdf doc library as well as signed library in a rich user interface book shelf
  • No limit on template docs, signed docs or customer projects
  • No limit on custom labels, color text, pen or size
  • Intuitive customer/project image cover flow screen. Touch & drag customer images to see the projects
  • Customize for personal, small business, retail and enterprise level
Legislation relating to veterans' education, employment, and home loan programs : hearing before the Committee on Veterans' Affairs, United States Senate, One Hundred First Congress, second session, on S. 2100 (sections 401 and 404(c)), amendment no. 1575 to S. 2100, S. 2483, S. 2484, S. 2537, amendment no. 1562 to S. 1537, and S. 2546, May 11, 1990.
Book (U.S. G.P.O.For sale by the Supt. of Docs., Congressional Sales Office, U.S. G.P.O.)
Low Doc and No Doc Home Loans. Jon Purdey, Broker, Edge
Low Doc and No Doc Home Loans. Jon Purdey, Broker, Edge ...
residential no doc investment loan
residential no doc investment loan
Looking For No Doc Start Up Business Loans?
Looking For No Doc Start Up Business Loans?
Super NO Credit NO Doc Hard money loan Program1
Super NO Credit NO Doc Hard money loan Program1
Georgia No Doc Loans
Georgia No Doc Loans
The Money Lady Funds a No Doc Loan for Dan Gonzales
The Money Lady Funds a No Doc Loan for Dan Gonzales

Popular Q&A

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no doc loans? | Yahoo Answers

You don't say what State you are located in. You want to go stated income? Why? 80/20 only refers to your loan to value. If you have enough equity, then you can avoid PMI whether it's stated or full doc/limited doc. Your rate is going to be higher for a no doc loan. And as above answerer said, you need some established trade lines, but you must have them if you know your credit score and it's 700. However, you are going to have to wait for them to pull a true tri-merge; if you are relying upon NO mortgage history, your credit score may not be the same as a true Fico mortgage credit score…

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What are the advantages of no doc loans?

The requirements for obtaining a no-documentation loan are looser than those for an ordinary loan. Thus, for those with a poor credit history (or no credit history entirely), such a loan may be the only option available. However, no-documentation loans often include higher interest rates and a higher deposit to cover the risk for the lender, so they are generally considered inferior to ordinary loans.