no doc loan The biggest barrier for many self-employed people to buy a home is providing all the documents required to proof their income and to qualify for a home loan. Typically, self-employed applicants must provide the most recent 2 years of tax returns, financial reports and/or pay slips. This can be very time consuming and costly. Fortunately, with a no-document home loan (also known as no-doc loan), applicants only need to fill out an income declaration form stating their income and assets. This process is called self-verification. Types of no doc loans Nowadays, a variety of no-doc home loan products are available in the market, with many lenders offering standard and premium no-doc loans with the choice of fixed or variable interest rates. Borrowers can also get access to a range of loan features and options which were unavailable. In most cases, many lenders require lo-doc borrowers to take out lenders’ mortgage insurance when borrowing up to 80 per cent of the property value and also charge a higher interest rate for these products. Fortunately, these interest rates may be reduced after a certain time period or when borrowers are able to provide full documents required for income proof. Register And Use Our Loan Calculators And Investment Tools Absolutely Free!!! Subscribe To Our Free Monthly Newsletter!!! Make An Enquiry With Us Today!!! | 
