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mortgages & income verification

Started by fakeestate
about 17 years ago
Posts: 215
Member since: Nov 2008
Discussion about
Only reason I can see wanting a no-doc loan (not that they're given out any more) is because you have something to hide. What am I missing? And I don't believe the claims that famous people favor no doc loans because they don't want mortgage companies knowing about their finances.
Response by MortgageMan787
about 17 years ago
Posts: 96
Member since: May 2008

Many people are of the mindset that if they are giving the bank 50% of the value of a property why does the bank care where the monthly payments come from. And there are still a few lenders who do no doc up to 65LTV.

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