A Low Doc Loan May Be The Right Type of Loan For You For someone who has a job that provides them with regular pay stubs and tax information the need for a low doc loan is not intuitive. Why would anyone not be able to produce the necessary documentation to get a loan? If you think about it you'll see that it really shouldn't be that surprising at all. There are many people out there who are self employed or get paid totally in...more
Low Doc Loans Can Meet a Variety of Needs Financial needs come in all shapes and sizes. That means that sometimes a certain situation may not fit the typical approach to paperwork. You may have a steady income but it may come in the form of cash, commission or some other method that isn't easy to document. You may be self employed or a freelancer. Or you may not receive regular pay stubs or have an easy means to prove your salary....more
No Doc Loans Mean You Can Borrow Even If You Can't Prove Income As hard as it is to believe there are actually loans available that require little or no paperwork be submitted to verify your income. These loans are referred to as no doc loans. When it comes to borrowing money with "no doc" your word is your bond. Instead of providing the bank with backup documentation of all your income and projected income, you provide only a certificate that personally verifies your accounting of your income. In some cases, you may not even be required to submit this.No doc loans are designed for people who are self employed or have some other type of income that is not verifiable. In most cases they have a large, high value portfolio of assets. It is assumed that the person also has a very good credit history. No doc loans are very similar to low doc loans with the added benefit of requiring even less paperwork. They can be extremely convenient and normally have a much more streamlined evaluation and decision making process. Before you get excited and rush down to your friendly neighborhood banker to sign up for this easy money, take a deep breath and think about it. Why...more
No Doc Loans Can Help You Get the Money You Need So what is a borrower supposed to do if he or she can't prove a history of income? It used to be that you were simply out of luck--no, proof, no loan. Luckily the financial services industry responded to the needs of borrowers in this special situation. Today there are a number of...more
Low Interest Rates and No Cost When Refinancing a Mortgage with Obamas Stimulus No cost, low interest rate mortgage refinancing options now exist for nearly any homeowner, in any financial situation, thanks to President Obamas housing stimulus plan. This $75 billion program is designed to help struggling homeowners save a lot of...more
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Information on Personal Loans, Secured Loans and Unsecured Loans Personal loans can be a great way to relieve debt when used appropriately. There are two main types of unsecured personal loans. There are secured personal loans and...more
High Risk Personal Loan Institutions The high risk personal loan institutions do specialize in the money lending business. They will loan out money for those who are considered to be a high risk factor due to having a history of bad...more
10 Great Reasons to Use a Mortgage Broker 10 Great Reasons to use a Mortgage BrokerGet independent advice on your financial options. As independent mortgage brokers and mortgage agents, we're not tied to any one lender or range of...more
Non Recourse Loans – Retail Properties It's everybody's dream to very own a house within the type of a land or a property. The residence acts as a safety for the particular person and it's a savior in instances of emergency. Lender...more
Beacon Score Basics for Mortgage Hunters Beacon Scores Beacon scores are a single number that summarizes your credit situation and shows lenders what kind of risk you're likely to be as a borrower. The article below is a basic overview...more
Non Recourse Loan - Apartment buildings We dwell in such financial instances that true est investments are viewed by means of a microscope. This really is because there are actually hundreds and thousands of folks who've misplaced...more