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no-documentation loan

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E.g. if we refinanced your home loan for $250,000 and the new business loan was only $50,000 then this is a regulated loan so can’t be a no doc (but could be a low doc!). However, if the business loan was $300,000 then the loan would be predominately for business purposes and a no doc loan would be fine.

Our no documentation loans and lines of credit are perfect for the self employed or businesses that don’t show enough profit on their tax returns or cannot prove their ability to pay the loan back because they write all their profit off. If you have ever been turned down by a bank because you can’t prove your income we can probably help you!

NO INCOME VERIFICATION – Loans where your income is not requested or verified are limited to 70% Loan to Value. The borrower has to bring at least 30% down payment. The borrower has to bring at least 30% down payment.

A No-Doc or Low-doc loan refers to loans that do not require borrowers to provide documentation of their income to lenders or do not require much documentation. It is a financial product commonly offered by a mortgage lender to consumers who cannot qualify for normal loan products because of fluctuating or hard-to-verify incomes, such as the self-employed, or to serve long time customers with strong credit. Applicants are often required to provide a substantial down payment, i.e. a larger deposi

no documentation loans No doc loans, also known as "no income no asset" or NINA loans, require the least documentation. Generally, you only need to disclose name, Social Security number, the down payment amount and the address of the property being financed.

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The no documentation mortgage (No Doc) has no supporting evidence of a borrower’s income. Instead, the loan realizes based on a declaration confirming the borrower can afford the loan payments.

What is a no-documentation loan? When a person applies for a mortgage , the lender will want to see certain documents, including verification of income through bank statements, tax returns or pay.

Non QM Mortgage. No Income Docs Required Applying online only takes a few minutes! NO-DOC LOAN GUIDELINES. No-Doc Loans are the perfect option for borrowers looking to avoid income documentation or verification when purchasing or refinancing a residential investment property. Best of all, these loans come with a 30-year term.

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