"NO DOC" loans are back!
The term “No Doc” is usually defined as no income, no asset, and no employment verification. Typically, self-employed, unemployed, seasonal workers, and new immigrates generally struggle to meet strict requirements to qualify for loans. A loan with few to no documentation is easier to qualify for, but generally carries a significantly higher interest rate. Essentially, all the borrower must document is their credit history (in the form of a credit report), and the lender will use this alone to determine if they are suitable for home loan financing.
- Non-Owner Occupied Properties Only
- No Debt To Income Calculation
- No Lease Required
- No Post Closing Reserve Requirement
- 75% LTV with 700+ credit score
- Cash Out Refinances & Purchases allowed
- 70% LTV with credit scores as low as 640
- Foreign Nationals Allowed
- Not subject to TRID law
If you have any questions feel free to contact us,
Miller Mortgage, LLC.
877-538-7967 (toll free)
515 Lowell Street Suite 1 Peabody, MA 01960