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No Documentation Mortgage Refinance Loan
Our lenders have simplified the loan process with stated income loans and limited documentation with less paperwork. Stated income loans have become quite a commodity this year. Borrowers with good credit typically like to be rewarded with less documentation options without being penalized with higher interest rates. Fannie Mae and Freddie Mac typically waive income documentation on the "A-paper" loans for borrowers with significant compensating factors like high credit scores, low LTV and large amounts of liquid assets. In 2020, a no doc refinance is easier to qualify for as lenders have reduced requirements.
Stated Income Home Mortgages and Limited Doc Refinancing
No documentation mortgage loans offer a streamlined loan options with no income verification for homeowners seeking a loan with less paperwork. Nationwide offers "No Doc" mortgage refinancing for qualified borrowers with good credit scores. "No Doc" loans are essential for most self-employed borrowers, because it is usually a nightmare for them to document their income.
Underwriters analyzing full documentation loans for self-employed and independent contractors will typically request complete tax returns, profit and loss statements for 2 years and 6 months' worth of personal of bank statements. Because of labor intensive process, most self-employed borrowers like stated income and reduced documentation loans.
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Stated Income Loan Options |
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No Doc Mortgage Loans to 90% |
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No Income Verification Loans |
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Cash Out for Debt Consolidation |
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Limited Doc FHA Mortgage Streamline |
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Low Interest Only Mortgage Payment |
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VA Streamlining with Lite - Doc |
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Subprime Refinancing |
Learn More About No Cost Loans
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Nationwide Mortgage Chief Economist Kevin Grant stated recently that HUD increasing the loan limits nationally should significantly help reduce foreclosure across the country.
8 Useful Loan Tips from the No Doc Loan Experts |
- No Income Documentation on FHA Streamline
- Low Interest Only Payments on HELOCs
- No Application Fees for No Income Refinance Loans
- No Equity needed with HARP Refinance Loans
- Refinancing Options for 2nd Homes
- Stated Income Mortgage up to 80%
- Limited Credit allowed with FHA and VA Home Loans
- No Cost Refinance Options with Reduced Documentation
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