anyone still doing no doc loans

altanivel · Joined: 03 Feb 2007 Posts: 2 1.69 Dollars($)

for no doc, I mean no employment or income on the application. have assets of $200K and trying to only put down 10% on a $500 to $550k home in FL.

banker0679 · Posted: Mon Nov 19, 2007 4:17 pm Post subject:

depends on if it's an investment property....and your credit score

jenkin7 · Joined: 04 Jun 2007 Posts: 939 140.80 Dollars($)

Hello Altanivel,

What is your credit score? That will decide if you can qualify or not.

Are you planning to go for a verified liquid assets loan?

You may have to pay PMI in such cases. You have to shop for lenders to get a reasonable rate.

evolovik26 · Posted: Wed Nov 21, 2007 7:37 am Post subject:

Yes you will need 20-25% down however

livinginnky · Posted: Wed Nov 21, 2007 10:39 am Post subject:

It all depends on your credit. Lenders really don't like no doc loans, especially in this market. What is your credit score? and What does the credit history look like? late payments? judgements? BK? If you have very good credit you should be able to do what you are asking.

brad · Posted: Wed Dec 19, 2007 7:22 am Post subject:

Yes there are many lenders participating in these programs but you will need 25% down and credit scores of 700+

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