No Documentation Loans

Phoenix Arizona Mortgage Loans offer No Doc and Stated Income loans up to the conforming limit of $359,650. We are experts in reduced documentation loan and offer Jumbo No Doc Loans above the conforming limit.

No Documentation Loans

No Documentation Loans are for individuals, frequently self employed, who can't or do not choose to document either their income or assets. Unlike jumbo loans in the conventional world, jumbo No Doc and Stated Income loans do not carry higher interest rates but there are loan to value limitations.

No Documentation Loans:

A No Documentation loan requires no employment, income or assets stated on your application. No information is verified beyond your credit profile and value of the property. Rates are 1 to 1.5% higher then conventional financing depending on the loan-to-value of the property and are available on both fixed rate and adjustable mortgages.

No Ratio Loans:

A No Ratio loan requires no income information on the application. Rates are usually .500% to 1% above conventional rates depending on the loan-to value of the property and are availabe on fixed rate and adjustabe mortgages. Because we do not need income information, no debt ratios are calculated. We verify employment and assets.

Stated Income Mortgages:

Stated Income mortgages are the least expensive option. We verify employment and assets, income is stated on the application but not verified. Your stated income must be reasonable for your occupation and assets. Rates are usually only .500% above conventional rates depending of the loan-to-value of the property and are available on the fixed and adjustable mortgages.

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