No doc heloc lenders stated income loans: Available within Business Lending "If I wanted to go refinance my house or buy a new house to live in and get a stated income loan, I couldn’t do it," says Brian O’Shaughnessy, CEO of Athas Capital Group, based in Calabasas, Calif. "It is against the.
Portrush, Northern Ireland-Doc Redman (70), Lucas. Four months ago Redman had no status and was practicing with the.
All About No and Low Documentation Mortgages. No- and low-documentation (no and low doc for short) mortgage loans are a good way for people to keep their privacy guarded or to get a mortgage when it’s logistically too difficult to document their income.
Last time, lenders coped with impatient refinance customers by eliminating all or most of the loan documentation. But many were burned when these "no-doc" and "low-doc" loans went into default and the.
Most lenders would want to know about that in order to underwrite the new mortgage and charge an interest rate high enough to cover the added risk. With a low-doc or no-doc loan application, only the.
Still, depending upon the lender, you will probably need to show evidence of income, even if you do not have tax returns. No doc loans are a greater risk for mortgage lenders; the market crash was in part due to risky no doc loans defaulting. The no doc refinance products have been performing better in recent years and that’s a good thing.
The above 7 mortgage lenders are the companies that we deemed to offer the best stated income / alt doc loans. There are other lenders that have recently introduced new loan products to accommodate borrowers that need to use alternative income documentation. We would be glad to help you compare.
Construction Loans; Hard Money Loans; Hard Money Rehab Loans; Home equity loan; home improvement loans; joint Ventures ( JV ) Land Development Financing; Limited DOC 1-4 Units Purchase or Refinance – Rental; Mortgage Loan Lenders; NO DOC Purchase and Rehab Financing Program; NO-DOC 1-4 Units Purchase or Refinance Loans; Private Placement.
MACQUARIE Bank wrongfully doled out $330,000 in high-risk “no-doc” investment loans to an elderly pensioner couple, who barely spoke english, and their daughter, who worked as a taxi driver, the.