If you are applying for a mortgage without a W-2, or your W-2 does not paint the full picture of your income, you can apply for a no doc loan.
What is a No Doc Loan?
A no doc loan is exactly what it sounds like: a way for you to apply quickly and easily for a mortgage without providing extensive documentation.
No doc loans are also called “alt doc loans” or “bank statement loans,” because when you apply for one, you use bank statements to verify your income instead of a traditional W-2 form.
No doc loans are great for these types of borrowers:
- Self-employed borrowers
- Gig workers
- Business owners
- Anyone with income not on a W-2
During your mortgage consultation, you can explain your income scenario in detail, and we can let you know whether a no doc loan is right for you.
San Diego No Doc Loan Program Features and Benefits
Here is what sets our no doc loans apart from bank statement loan programs offered by other lenders:
- Verify your income with 12 months of bank statements.
- Only the first page is required for business bank statements.
- 100% of eligible deposits are used and employment is left blank for personal bank statements.
- We calculate DTI for you.
- No debt service needed.
- Investment properties available.
- Rates start at 6.99%.
Buy a Home Quickly and Easily with a No Doc Loan
Using a no doc loan, you can rapidly apply for a mortgage using a streamlined process no matter your income scenario. If you are ready to apply, please give Maureen Martin a call at (619) 857-7191 to schedule your San Diego no doc loan consultation.
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