Low/No Documentation Home Loan

A borrower may not be able to provide the necessary documentation (Verification of income) to qualify for a standard loan. In the absence of fully verifiable documents the applicants self certify their incomes. This type of loan is called a low documentation loan.

There are also loan products available for those who feel uncomfortable with self certifying income. This type of loan is called a no documentation loan. They generally require the borrower to sign a statement or declaration that they can afford to repay the debt and further that the loan will not place them into financial hardship.