Reduced Documentation Loans
Reduced documentation (low-doc or no-doc) loans require minimal paperwork. However, expect to put 25 percent down and pay a higher interest rate throughout the life of the loan. These loans are ideal for those who are self-employed or don't want to deal with extensive paperwork.
Choose a low-doc or no-doc loan if you:
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Need financing options for unusual property types such as log, earth or dome homes
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Are self-employed with good credit but have avoided purchasing or refinancing a home due to excessive documentation requirements
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Are a citizen of another country or don't have a social security number
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