No Documentation – Where the borrower’s income is not disclosed to the lender. This underwriting class tends to have the highest interest rates and these are defined as ZERO DOC LOANS – Hard Money & Private Money Loans No/Credit or Income/Verification, No Bank Statements, No Tax returns, To credit check, No Seasoning or Sourcing of Fund and No reverses requires.
Full Documentation-Where the borrower’s income is verified by a federal tax return. Any loan involving an owner-occupied business will also require a business federal tax return. Loans in this underwriting class tend to have the lowest interest rate.
Credit Requirements-We work with all types of personal credit. (Generally, the higher the credit scores the lower the interest rate. However, in commercial mortgages there are many other factors that affect the rate).