Sentences with phrase «low doc mortgage»

A stated income mortgage is a form of a low doc mortgage that requires lenders to have great credit and a reasonable income to debt ratio.

Some of the most common programs are stated income or low doc mortgages.

Not exact matches

The Bank will accept all RMBS as collateral, however it will only provide value for prime full - doc residential insurable mortgages and similarly qualified low - doc mortgages comprising up to 10 per cent of the value of the security.

One great product that you might find works best for you is something called a low documentation, or low doc, mortgage.

Along with a lower interest rate, you'll also avoid fees that come with second mortgages, such as underwriting, doc drawing, origination fee, and anything else a broker or mortgage lender may charge you.

One of the defining characteristics of an Alt - A mortgage is that it is typically a low - doc or no - doc loan, meaning the lender doesn't require much (if any) documentation to prove a borrower's income, assets or expenses.

This is yet another low doc loan that mortgage companies offer on LoanShoppers.

But the company is not trying to repeat the lead - up to the mortgage crisis, where banks and mortgage brokers pumped out thousands of no - doc, low - doc and robo - signed mortgages a day to meet the demands of Wall Street.

Not too long ago, they offered in abundance what are called «stated income loans», more commonly referred to as «no doc» or «low - doc» loans, mortgages that require no documentation or little documentation to verify the borrower's income and assets.

Do not let a mortgage broker put you in a «low doc» or «no doc» loan if you do not make enough money (using the lenders prescribed debt to income ratio as a benchmark) to make the mortgage payment.