No Document Home Loan
Documenting income can be troublesome for certain individuals. Qualify for a mortgage using this loan program that does not require any income or employment verification!
No Document Home Loan
Documenting income can be troublesome for certain individuals. Qualify for a mortgage using this loan program that does not require any income or employment verification!
A solution for borrowers with unique financial situations
Most mortgage loan programs require some sort of documentation to evidence your ability to repay. Sometimes clients cannot provide the necessary documents in order to qualify. We understand this, and are able to offer a true, no income/employment verification loan to help.
Who can qualify for a no document loan?
Anyone looking to purchase a primary residence up to four units can qualify for a no document loan, as long as you meet the qualifying criteria described below.
What type of properties are eligible for a bank statement loan?
Using a no document loan, you can purchase or refinance a primary residence or second home from 1-4 units. Single family residences, condos, townhomes and multi units up to 4 are eligible.
What are the requirements to qualify?
In order to qualify for a no document loan, you'll need a minimum credit score of 640 and at least 20% down payment. That's it.
What are the parameters for this loan program?
Aside from absence of any income or employment verification, this loan program is no different than a traditional mortgage. Loan terms are offered on fully amortized 15 or 30 year fixed terms. Minimum loan amount is $250k, with the maximum loan amount being $2M. No prepayment penalty, no balloon payments, no mortgage insurance required. Interest rates tend to be higher than those compared to a full document loan.
Ready to get started?
Complete the loan application below and schedule a time for us to connect and review your application together.
VirtuaLending | NMLS #2015906
Isaac Sanchez | NMLS #1992428
9267 Haven Ave, 220,
Rancho Cucamonga, CA 91730
(NMLS Lic. #2015906) Is an equal housing lender. This is not a commitment to lend or extend credit. Programs, rates, terms and conditions are subject to change without notice. Terms and conditions apply. All rights reserved. Contact us for details. Consult your accountant about tax deductions. NMLS Consumer Access