A No Documentation mortgage (NO-DOC) is a loan that does not require income verification or tax returns from the borrower. Instead, the loan is given based on the borrower’s credit history, real estate investment experience, and liquid assets. Those self-employed or who are real estate investors are perfect candidates for No-Doc loans, as their income is not easily verified. Underwriters assess the applicant's risk during their review process and determine the borrower's loan rate if approved.
No-Doc Mortgage Highlights
- Rates starting at 4.375%
- FICOs down to 650
- $100K - $5M
- Interest Only Option Available
- 5/1ARM, 7/1ARM, 30 Year Fixed
- Up to 85% LTV
- Blanket Loan Options Available
- Investment Properties Only (single-family, condos, commercial, office, retail, industrial)
No-Doc Loans are unregulated and typically entail higher down payments compared to traditional mortgages. However, this option is ideal for those looking to purchase an investment property. If the No-Doc Loan option seems right for you, get started with EB Mortgage today.
Our "3C" Process:
Complete our pre-approval request
Consider options based on your requirements
Choose the offer that suits your needs best