A No-Doc loan (abbreviation/slang for: No Documentation Loan) refers to a finance product commonly offered by a mortgage lender to consumers who cannot qualify for normal loan products, or do not want to give up their financial privacy. No Documentation applicants require a larger deposit either through equity in security or personal savings. Income and assets aren't disclosed on the loan application and employment isn't verified. However, a credit check is typically required as lenders are counting on the fact that the borrower has a good credit history. No doc mortgages usually fall into the Alt-A classification, and tend to carry a higher interest rate and require a higher down-payment than a prime mortgage.