No Doc Jumbo Loans

Quick and Easy Financing with Less Documents also known as "No Doc".

Self-employment, changing careers, and complex tax returns shouldn't be a barrier to purchasing or refinancing a property*. You may be well qualified, but may still not wish to furnish the income, asset or employment information typically requested with a loan application. Some Flexible documentation such as stated income, no doc or lite doc options may be beneficial in these cases.

No Doc Options include:

Stated Income

- Income is stated on the application but not verified. Assets are verified which is usually 2 to 6 months, but nowdays may range from 6 to 12 months of monthly assets depending on the program. Pledging of assets may also be considered to structure the transaction to make sense to the underwriter
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No Ratio

- Income is not disclosed nor verified, but assets and work are verified. Best for affluent clients with complex finances and those with high debt to income ratios; retirees who live off investments, and people whose finances are in transition because of divorce, recent death of a spouse or career change.

Stated Income / Stated Asset

- Income and assets are stated on the application but not verified. Best for those who work, but don't wish to disclose that documentation. This includes self-employed people or those who earn significant commissions and/or bonuses.

NINA - (No Income /No Asset)

- Income and assets are not disclosed on the application nor verified. Ideal for credit worthy people who want maximum privacy.

No Doc - (No Income/No Job)

- Income and Job information are not disclosed on the application. Assets are verified. Best for those in between jobs or recently changed from employed to self-employed or vice-versa.

No Doc - (No Income /No Asset/ No Job)

- Income, assets, and job information are not listed at all on the loan application.  
This is a "True No Doc Loan". No Doc loans are also commonly done in the hard money (private money funding) arena at higher rates with a substantial down payment of 30 to 35% or as a refinance with 35% or more equity but it closers quicker.