No Doc Mortgage Loans?

Answer

A no doc loan is a home or a mortgage loan which does not require documentation of documents, for verification of one's income. The loan is ideally suited to investors, borrowers, independent contractors, ex-bankrupt or clients with arrears on mortgages and self employed persons are not accepted by traditional lenders. The loan is usually of higher risk profile and is more expensive compared to traditional loans.
Q&A Related to "No Doc Mortgage Loans?"
Mortgage lending risk usually looks at the borrower's ability and inclination to repay the debt. This would call for proving income and would be supported by a good credit history
http://www.ehow.com/about_5048095_doc-loan.html
The purpose of a No-Doc home loan is to make it easier for people that cannot meet the strict requirements to qualify for a loan. This is done by providing a loan with little or no
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Doc typically refers to the file extension 'doc. This file extension is used for Microsoft Word documents, and is actually short for the word 'document!
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A Federal Stafford Loan is a loan structured under the Federal Student Loan Program that allows undergraduate and graduate students to borrow money to attend college. They are designed
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1 Additional Answer
Ask.com Answer for: what is a no doc loan
What Is a No Doc Loan?
No Doc (no documentation) loans are a type of mortgage loan for the purpose of purchase or refinance of residential real estate. The feature that has made them interesting is that they do not require documentation of income or assets. Also known as NINA... More »
Difficulty: Easy
Source: www.ehow.com
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