No Doc, Low Doc Mortgage Loans

[Anthony Uva]

Hello 

I've heard that low doc and no doc loans are making a come back. Is anyone using the new version of these type loans? Can anyone recommend a reliable lender that will do these loans at a reasonable interest rate in New Jersey? 

Borrower with excellent credit and can put down substantial down payment (25%). 

I would would prefer interest only but would also consider a fixed rate 15 or 30 yr, 5 ARM, or 7 ARM.

Thanks in advance!

[Richard Scholtz]

Those are called STATED INCOME loans....I wrote on the 2 tiers of those on some previous posts...BLACKSTONE and some other hedge funds are doing those again....Basically underwriting rental properties like commercial loans....and skipping the owner's taxes and income documentation.  They price about 250 basis points over A paper bank financing and are 30 year fixed loans....and way cheaper than hard money. See my prior posts on stated income loans or No Doc loans.