What Are No Doc Home Loans?

I have assumed that if you are reading this article then you obviously need to know more about no doc home loan. Obviously there are many reasons to get this kind of mortgage loan.

The biggest advantage to get it is that you do not need to report personal information such as the amount of your monthly income or even the source of your work. And for the most important thing is that you do not need to show your assets on both the loan application.

No doc loans are a great method for you to get all the money you need even if you do not have the ability to come up with documentation that a normal home mortgage requires. Click here now to know more about no doc home loans.

And you do not need to disclose this information to the lender. You can use the no doc mortgage loan to buy: single-family homes, condominiums, and townhouses.

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Two of the biggest factors that lenders look at when you're looking to get a loan without the doc are:

* Credit History, and

* Credit score

You must show your loan officer a clean history of credit payments and on time also have a credit score greater than 680 and above. It is important to bump up your credit score.

Now you know that what you are getting into before you go to the bank or your local credit union. With this information, you should be comfortable when you decide to take the plunge.