How do no-doc loans work?


angela March 2, 2014 at 5:56 am

Basically you don’t have to provide proof of income. You shouldn’t have to show your past two years’ taxes or paystubs.

dzwreck March 2, 2014 at 6:02 am

No doc loans are mortgage loans where you do not have to document or show proof of income, employment or liquid assets in exchange for accepting a higher interest rate. Very good credit is usually necessary for a no doc loan and the rate is higher because the risk of doing this type of loan is higher to the lender. See the links below under sources for more information on no doc loans.

Comments on this entry are closed.

Previous post:

Next post: