What Is a No-Doc Loan? – SmartAsset – "No-doc loan" is mortgage-speak for a home loan that requires only limited income documentation from applicants. Normally, applicants for mortgages disclose their income, assets and employment status to convince lenders that they’re capable of keeping up with mortgage payments.No-doc loans waive this requirement.
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Stated Income: No Doc Loans – Stated Income – One of the versions of the stated income loan is the No Doc Loan. The No Doc Loans program is basically a program that doesn’t require any income, asset, or credit score information when the lender is making the decision as to whether or not a borrower qualifies.
No Doc Loans – No Tax Return Mortgage Programs – More About No Doc Loans. No doc loans may also be known now as stated income or low documented loans. They are made for those who do not have tax returns or other typical documents for getting a no doc mortgage loan. Another common issue is that people want to keep their personal and financial information confidential.
No doc loan – Wikipedia – No doc loan. Self-employed, unemployed, seasonal workers, and new immigrants generally struggle to meet strict requirements to qualify for loans. A loan with few to no documentation or credit history requirements is easier to qualify for, but generally carries a significantly higher interest rate.
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No doc home loans no longer exist, but you can still get a home loan without having to provide the standard amount of proof of income. No doc home loans are no longer offered in Australia.
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No-Doc Mortgage. A no-doc mortgage is an extinct mortgage product that does not require mortgage lenders to document the borrower’s income or assets. No-doc mortgages are illegal today because they violate the requirement that lenders must verify the borrower’s ability to repay before approving a mortgage. No-doc loans were also called SISA.
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Commercial No Doc Loan | Mortgage Providers – Commercial No Doc Loan. Despite the financial crisis of 2008 Commercial No Doc Loans are still available throughout Australia with a handful of lenders. As commercial property loans are not covered under the National Consumer credit protection act (nccp), having the ability to get your loan approved using a No Doc lending policy secured by commercial property is a niche field.