No-Doc Loans

In this guide, we will cover No-Doc Loans. No Income Documentation Loans, often called no-doc loans, are non-Qualified mortgages (Non-QM Loans) underwritten based on the borrower’s credit scores and assets. Non-QM loans do not require income tax returns, W2s, 1099s, or other sources of income documentation. Non-QM lenders want to see bank statements showing the down payment and reserves and the borrower’s credit scores. The borrower’s credit scores determine the down payment and reserve requirements.