Generally, higher-priced loans are defined as loans with annual percentage rates (APRs) that exceed the average prime offer rate (APOR) for a comparable transaction by at least 1.5 percentage points for first-lien loans and 3.5 percentage points for subordinate lien loans.
The no doc mortgage options and no income verification loans were popular programs before the default rates kicked in. Of course as the U.S. economy improves stated income mortgages more and more mortgage lenders will be announcing new stated income loans and no-doc mortgage programs with new opportunities for borrowers in all 50 states.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT: To help the government fight the funding of terrorism and money laundering activities, the USA Patriot Act requires all financial institutions to obtain, verify, and record information that identifies each person (including business entities) who opens and this means for you: When you open an account, we will ask for your name, physical address, date of birth, taxpayer identification number, and other information that will allow us to identify you.
Lenders had to consider eight different factors under the new rule to determine a borrower's ability to repay — their current or reasonably expected income or assets, current employment status, the monthly payment, monthly payments on other debts related to the home, monthly payments for mortgage-related obligations, other debt obligations, monthly debt-to-income ratio and credit history.
The more documentation you provide your no doc lender (employment, income and credit history) with your loan application, the lower your interest rate may be. Many home buyers cannot provide documentation for personal or tax reasons, and are glad to have no doc loans as an option.

We are able to help you to find a no document loan with the best no doc lenders in the following states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming.
Our premier No Doc Loans Program is the favorite of our investors due to No Seasoning of Funds and No Sourcing of Funds. Loan Trust Mortgage is the leader in working with people abroad that want to buy or refinance their property that is located in the United States.

This business model holds true for many mortgages because lenders see that the borrower is willing to offer a significant amount of capital. These mortgages are unregulated and do not meet the Consumer Credit Protection Act requirement to verify the borrower's financials reasonably.
Borrowers such as self-employed persons, those whose income mainly rely on tips, and independent contractors may have difficulty documenting their income. Our Foreign National program is a flexible alternative documentation program with realistic guidelines to help more borrowers qualify.
You can send extra money any time, as much as you like, or pay the loan off any time without penalty. These no income verification loans also are helpful for people who work largely in cash and do not have a lot of paperwork that document their income. The LendingTree Certification Program recognizes Lenders and Loan Officers with outstanding performance on the LendingTree Network, they are committed to providing exceptional customer service and are graduates of LendingTree University.
Delaware Volunteer Legal Services will send the borrower, the housing counselor and the lender the date and time to appear for mediation. No Income-No Asset (NINA) mortgage programs do not require the borrower to disclose income or assets as part of loan calculations.