No income documentation loans

No income documentation loans provide a different type of financing for borrowers who do not have the usual documentation of income, like pay stubs or tax returns. These loans enable individuals, such as self-employed individuals, investors, or people with non-traditional income, to qualify for a mortgage using the property's value instead of their income. Lenders can take into account other elements such as assets, credit history, or the potential income of the property when deciding whether to lend. No income documentation loans are perfect for borrowers who have difficulty proving their income through traditional means but still wish to obtain financing to buy or refinance real estate.