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no ratio loan: A documentation specification in which the income of the borrower is revealed and confirmed but is not used in the process of qualifying the applicant. Income and expense, the common maximum ratios, are not used in this situation.
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NO RATIO LOANS No ratio loans don’t require you to declare what your income is, so you don’t have to show pay stubs, W-2s or tax returns. Because the lender doesn’t know what your income is, the debt-to-income ratio can’t be calculated. However, you still have to list assets so that the lender knows the loan.
No Ratio Loan. A no ratio loan is a home loan for which there is no debt-to-income ratio for the lender to consider because you aren’t required to disclose your income. Generally, you must have good credit and abundant assets to qualify for one of these loans.
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Although strict no-documentation loans are rare, no-ratio mortgages, a modified version of the no-doc, are still available on a limited basis for people who meet certain requirements. With these.
That fact is perhaps no better understood than by those building. they can either lock up more collateral to boost up the ratio or simply close the CDP and pay back the full amount of their loan in.
No Ratio Loans No ratio mortgage loans are for borrowers who do not wish to disclose their income; therefore there is no debt-to-income ratio for the lender to consider. The No Ratio borrower has good credit and abundant assets that make up for the lender not considering the borrower’s income information.
No Ratio Loans – No ratio loans are loans which do not require the applicant to state their income nor will it be verified by an underwriter. There are many benefits for individuals who qualify for this type of mortgage. Many loan officers offer stated-income to mark up the borrowers’ income.