Jumbo No Doc Loans:
Most
lenders only offer No
Doc and Stated Income
loans up to the conforming
limit o 417,000. At Autumn
Mortgage, we consider
ourselves experts in reduced
documentation loans and
we are now able to offer
Jumbo No Doc loans above
the conforming limit.
This
series of loans is designed
for individuals, frequently
self employed, who do
not choose to document
either their income or
assets and need loan amounts
up to $3,500,000. Unlike
jumbo loans in the conventional
world, jumbo no doc and
jumbo stated income loans
do not carry higher interest
rates but there are loan
to value limitations.
Please call or email with
the specifics of your
situation. Please see
below for more information
on the No Doc suite of
products.
| No
Doc
No
Documentation
loans require
no employment,
income, or assets
to be stated
on your application.
No information
is verified
beyond your
credit profile
and value of
the property.
We allow as
little as a
0% down payment.
If you have
past credit
issues you will
need a slightly
higher down
payment but
I can get the
loan done. Rates
are 1 to 1.5%
higher than
conventional
financing and
are available
on both fixed
rate and adjustable
mortgages.
No Ratio
A No Ratio loan is a good choice as you do not state any income information and your rate will be less than for a No Documentation loan. Because we do not need income information, no debt ratios are calculated. We will verify employment and assets.
Stated Income
Stated income mortgages are the least expensive option. We verify employment and assets, income is stated on the application but not verified. Your stated income must be reasonable for your occupation and assets. Rates are usually only .500% above conventional rates. |
Property and Occupancy types
No Documentation Loans allow purchasing or refinancing a single family, townhouse or condo. An investment property or Vacation home is acceptable. The program can be used with our No Documentation construction/perm program.
Be
sure to visit the autumnmortgage.com
Resource
Center.
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