Where can I get a list of lenders that will write no-doc mortgages?
Answers | 2
November 04, 2014
With the "melt-down" of the mortgage market 7-8 years ago, virtually all of the "no-doc" or "stated income" loan products disappeared. Unfortunately though these products were designed for specific type of borrowers (mostly self-employed) and they were valuable, the products were nevertheless abused. The fraud that accompanied these transactions lead to irresponsible lending, foreclosures, and many other derogatory real estate issues.
There are portfolio lenders out there now however who have begun to reintroduce these products into the market. Some of them may call it "no-doc" while others may refer to it as "asset based" lending. An internet search would probably be the best place to begin gathering together a list.
Asked by Brady
Answered by Brian Howell
Mortgage Broker in Castle Rock, CO
No Brady it usually isn't. I would recommend sending two separate checks for $100...
Asked by MORE DIOP
Asked by donna
Answered by David Skow
Mortgage Broker in Seattle , WA
Thanks for your post .....your best 1st step will be to get a loan pre approval ...