top 10 mortgage servicers

top 10 mortgage servicers
No doc mortgage loans that are not covered by the borrowers monthly income amount and source of employment to be filled in on the mortgage application. No Doc loans are a great program for the borrower that is just not in a position to deal with the formalities required for a conventional or stated income loans as a self-employed or unemployed borrowers. No Doc mortgage loans for the purchase or refinancing of single-family homes, condominiums and houses in the city. No Doc loans are also available for non-owner occupied investment properties as good, but have different lending guidelines, the application and they are only at a lower loan to value ratio and will require a deposit or equity for a refinance.

A no doc loan means that no documentation on the quantity or source of income of the borrower is required assets are left of the mortgage application. No doc loans will be entirely on the strength of the borrowers credit report and the amount of down payment or equity in the property. Credit History and Past Credit Score are very important factors when applying for a no doc mortgage loans, as the insurer final decision is based on very little information. Credit scores of 680 or more, often for a No Doc mortgage loans. Many sub-prime lenders offer No Doc mortgage loans, but as the sub prime industry exacerbated these are the first programs to eliminate, as the risk to the lender.

The only real drawback to a "no-doc loan is the higher interest rate. Interest rates are as much as 2% for a no doc loan compared to a standard loan fully documented. Even with the higher interest rate no doc loan is ideal for people who work or income, which are difficult to prove, seasonal or very wealthy debtors who do not want exposed to income and assets. Even if they have no revenue amounts to the loan No doc mortgage loans are an opportunity to learn about the income, an expensive house that you would normally not apply to. Despite the fact that you have excellent credit lenders usually give you a slightly higher interest rate than if you look at the full documentation for your income and assets.

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