The no doc mortgage options and no income verification loans were popular programs before the default rates kicked in. Of course as the U.S. economy improves more and more mortgage lenders will be announcing new stated income loans and no-doc mortgage programs with new opportunities for borrowers in all 50 states.
On the mortgage preapproval page, you provide information as to whether you’re seeking a purchase or refinance loan, the loan amount and home’s estimated value, and where the property is located.
Different loans meet different needs. Interest rates can change. So can your cash flow – or your home’s value. Your situation may help you decide between home equity financing or a mortgage refinance. See how home loan mortgages differ
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These popular mortgage loans were named according to their lack of documentation required. The loans required very few "docs." The most infamous of the no doc loans was the NINJA loan, with No.
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No Doc Mortgage Loans The actual "No Doc" mortgage loan is the closest you will find to actually providing "no documentation." If you opt for a no doc refinance you will provide the lender with general information about your home and existing mortgage. The lender will base their decision for approval almost solely on your credit rating.
Great Northern Mortgage offers mortgage for self employed and super jumbo loans up to $3,000,000 and no income check and no doc verification loans where your income is not verified.
The Different Types of FHA Streamline Refinance Loans Refinance to a mortgage with low fixed interest rate and choose from a variety of terms (the length of the mortgage. Or refinance to an FHA adjustable rate mortgage with a low fixed rate that ends after five years.
However, some people can’t produce the documents required. For them, a low-documentation (or no-documentation) loan is appealing, and those loans are still available to some.. now requires lenders to ensure that you have the ability to repay any loans approved – if the mortgage is a “qualifying” loan.. Refinance Your Home With Bad.
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#1 Refinance.com – We offer stated income loan products that include, Refinance, home equity loans, second mortgages and debt consolidation loans for self-employed borrowers seeking reduced documentation loans. free online application.
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