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No Doc Loan


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ive been working on my credit score and i think if everything turns out like i want it to or expect i should have a score around 680 or 690...my question is what kind of interest rate can i expect ..would i be able to qualify for a 100% loan..

the reason why i want a no doc loan is my DW makes the most of our income but her credit score is in the low 500 and my income alone doesnt qualify for the amount of house we want we she makes about 130.000 and i make 50.000...would a no doc loan be our best option ....as of right now ..i realize fixing her credit score would be the best option but as we know thats not an over night process

thanks for the help

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As a general rule, the less information/documentation you provide to the lender, the worse the price.

From best price to worst price (although there are exceptions to this):

Full Doc

Stated Income

No Ratio

No Doc

No Ratio doesn't calculate a debt-to-income ratio (hence 'no ratio') although you are required to have a two year documentable 'source' of income.

No Doc doesn't require the 'source' of income.

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