Lenders today have no income
certification mortgage loans and no documentation
required loans. These two types of loans allow
consumers to get funding without the usual burden of
proof.
The no income verification
loan is available through mortgage loan brokers and easy
to come by with a good credit history and decent down
payment (at least 10% of the property value).
This type of loan is usually
for people who have had a shining credit history and who
have some other collateral that proves to the lender you
can afford to repay the mortgage once it’s
approved.
Using a no documentation
required loan means you’ll have a lot less paperwork to
worry about. Generally, it’s used for people who
prefer confidentiality, but you’ll still need a stellar
credit history and substantial down payment.
Disclaimer: The information
provided in this site is not legal advice, but general
information on financial issues commonly encountered. We
shall not be liable for any errors in the content or for
any actions taken in reliance thereon. Please consult
your financial
advisor.
