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No Income Documentation Loans

A great way for self-employed borrowers to bypass the red tape of coventional lending.

A No Income Documentation Loan (NIDL or "No Doc Loan") is a type of mortgage where the borrower doesn't need to provide the traditional paper trail banks require such as W2's, pay stubs, or tax returns. This enables self-employed borrowers to access home loans, even if their taxes don’t reflect their full income. Instead, this loan focuses on the clients' assets (retirement accounts, CDs, investments). 

Apart from a hard money loan (which is solely asset-based), a No Doc Loan is the lowest hassle loan on the market. Call our NW Alternative Mortgage team to find out if an NIDL is the best loan option for you!

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No Income Documentation (NIDL) Loan Features

  • Loans up to $3 million

  • No tax returns are required

  • Loans for Primary or Secondary Residences only 

  • Assets must be seasoned (have been in borrowers account) for at least 30 days

  • Cash-Out Refinances available with a maximum LTV of 70%

  • 740+ FICO enables a 20% down payment on purchase or up to 80% LTV on refinance. All you need is 12 months of the mortgage payments held by the borrower in a bank account, CD, retirement account, or stock account.

  • 680 to 739 FICO enables a 20% down payment on purchase or up to 80% LTV on refinance. All you need is 18 months of the mortgage payments held by the borrower in a bank account, CD, retirement account, or stock account.

  • 640 to 679 FICO enables a 35% down payment on purchase or up to 65% LTV on refinance. All you need is 24 months of the mortgage payments held by the borrower in a bank account, CD, retirement account, or stock account.

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Conventional vs No Income Documentation Loans

NOTE: It's important to note that the specifics of conventional Non-QM mortgage loans can vary depending on many factors. This chart provides a general overview of the key differences between the two types of loans. Contact us at 503-343-7999 to learn more about the lending solutions we offer!

Other Loans We Offer

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Asset Utilization Loans:

A great option for high-net-worth investors and borrowers who are looking to use their assets instead of income to qualify for a mortgage.

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Bank Statement Loans:

A bank statement loan allows investors to verify their income using bank statements instead of tax returns.

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DSCR Loans

A DSCR loan is often a great option for real estate investors looking to purchase or those who own long-term rental properties.

Ready To Get Started?

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Contact Us

Lending Office

5335 Meadows Rd, Suite 388, Lake Oswego, OR 97035

Phone

Direct Line: 503-343-7999 

Email

Office Hours

Mon - Fri

9:00 am – 5:00 pm

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