Dan Johnson
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Dan Johnson480.442.2214 djohnson@lmtwo.com MB-0913237 MLO-259288 9160 E. Bahia Dr., Suite 201 Scottsdale AZ 85255 
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No DOC/Stated INCOME Loans where your income is not requested or verified with as little as 10% down are stated income loans. There are several varieties of the "no-doc" loan today. Basically the type of loan that is best suited for a particular borrower depends on that borrower's situation. Some borrowers choose not to disclose employment, income or asset information, while others may be willing to disclose employment and asset information but not income. Still others might be willing to disclose even income but select a program that doesn't calculate debt-to-income ratios allowing those borrowers to exceed the traditional guidelines in order to qualify for a larger mortgage amount. With all the different variations of the no-doc loan, there is definitely a mortgage program for today's non-conventional borrowers. |