Results 1 to 3 of 3

Thread: Mortgage Question

  1. #1
    Member Hypnotic2269's Avatar
    Joined
    Nov 2004
    Location
    Living it up in New York Baby!!!!!!!!
    Posts
    45
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default Mortgage Question

    Ive looked everywhere and still cant seem to find an answer on this....Does such a thing as a no doc zero down mortgage loan exist? I know that both do exist seperately but can they be combined?

  2. #2
    Member Hypnotic2269's Avatar
    Joined
    Nov 2004
    Location
    Living it up in New York Baby!!!!!!!!
    Posts
    45
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default Re: Mortgage Question

    Nevermind...broker buddy finaly got back to me.It does exist but the rates are incredibley high and employement does need to be stated and will be verified. Back to the drawing board

  3. #3
    Featured Member scorpio's Avatar
    Joined
    Nov 2003
    Location
    Chicago
    Posts
    868
    Thanks
    0
    Thanked 3 Times in 3 Posts

    Default Re: Mortgage Question

    He is mis-informed. There is no such thing a NO DOC no money down loan. Stated income, yes, but not no doc. The difference is that witha NO DOC, you do not put any job or income info on the application, no job verification needed, although you still have to verify assets. A stated income loan means you "make up" a figure for income, and the bank does not verify it, but you must verify assets and your job.

Similar Threads

  1. mortgage for strippers
    By pinkfeather in forum Dollar Den
    Replies: 20
    Last Post: 06-16-2008, 09:15 AM
  2. mortgage for strippers
    By pinkfeather in forum Stripping (was Stripping General)
    Replies: 7
    Last Post: 06-09-2008, 02:10 PM
  3. Mortgage Orginator?
    By whirlerz in forum Other Work
    Replies: 2
    Last Post: 05-16-2006, 07:13 PM
  4. FHA Mortgage Question
    By Deni in forum Dollar Den
    Replies: 22
    Last Post: 04-14-2006, 12:56 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •