I would first ask why you want to go no doc. There could many options that you might not think otherwise. I have done a few mortgages for people in the past that a loan officer was taking them stated or no doc, but when I asked the right questions, I was still able to do a full doc. If not and you have to go no doc, it depends on your credit scores, but you the best you might be able to do depending on those scores is putting 35% down or more. Now, I have heard some lenders say that you can put down less, but I haven't seen one of those close yet. I had one client that went with a lender that said he could put 25% down, but he never closed because that lender changed it to 35% a week before closing. I say this because there aren't that many investors period that are even doing no doc loans. So you need to be careful on who makes promises. Sorry, but this part is the truth. Not all promises and or guarantees are real.
Overall, I still would like to go over your options. I can always be reached on my cell phone and or e-mail.
Jeffrey J. Belonger
Area Manager/Branch Manager
Infinity Home Mortgage Company, Inc
Processing : 800-587-2762
Cell : 609-440-5133
Fax : 775-361-6619
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Look at this blog it will help you to learn more about mortgages.
I've got most of my answers there as well.
How are you?? The truth is that the lending rules and ratios are changing everyday! "No Income" Loan products are harder to come by now more than ever before! This question is best to be answered by one the mortgage professionals who are in touch with various lenders daily. They will be up on all of the new requirements for each loan product. If you would like a referral to a lender that can help, please feel free to call me on my cell at 732-239-3809 or email me at firstname.lastname@example.org!
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