Today's mortgage lenders understand the complications some applicants face in proving their income with supporting documentation so many mortgage products have features which allow a borrower to state their income (without verification), avoid any reference to income and/or even provide only limited documentation for income and assets. You have to think of these options as privileges and the better your credit the more options you will probably have. Below is a general guidelines of what some lenders consider as minimum scores required for such options. This information does not represent an offer to lend and should only serve as a tool for viewing some available programs in today's marketplace. To learn more about the limited income documentation programs available for your unique scenario please contact a mortgage professional in your state .
Credit Score
Income Documentation Options
Above 720
Full Documentation
No Income / No Assets (NINA)
No Ratio
Stated Income
Stated Income / Stated Assets
- Maximum Loan Amounts may Apply to programs other than full documentation -
- Investment properties are limited to some of the products listed above -
- Contact a mortgage professional for more info -
Above 680
Full Documentation
No Income / No Assets (NINA)
No Ratio
Stated Income
Stated Income / Stated Assets
- Maximum Loan Amounts may Apply to programs other than full documentation -
- Investment properties are limited to some of the products listed above -
- Contact a mortgage professional for more info -
Between 660-680
Full Documentation
Stated Income
Stated Income / Stated Assets
- Maximum Loan Amounts may Apply to programs other than full documentation -
- Investment properties are limited to some of the products listed above -
- Contact a mortgage professional for more info -
Between 620-660
Full Documentation
- Maximum Loan Amounts may Apply to programs other than full documentation -
- Investment properties are limited to some of the products listed above -
- Contact a mortgage professional for more info -
Below 620
Are you a Lender providing Libor Loans with Limited Income options for applicants with credit scores under 620? - Get Listed with us today! Email lenders@interestonlybankloans.com for more info.
Please note that this information should be only used for reference and is not an offer to loan at the published guidelines. Each lender will define their own unique underwriting guidelines which may or may not be equal to the ones above. Interest Only Loans reviews information provided by mortgage lenders and has created this section to provide potential mortgage applicants only with a general idea of what loan programs may be available. The final details of any loan offering can only be made by licensed mortgage lenders, brokers, bankers and other institutions/individuals with the authority to do so. In addition, not all lenders offer the same programs in all states. Certain risks are associated with any kind of adjustable rate mortgage. The information contained in this site should be used only for reference. Before entering into an agreement with any financial institution please consult your financial planner, accountant or any other person who is familiar with your financial profile for further information. For more information on the terms and conditions of this website and the use of information contained please visit our legal section by clicking below.
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* Every home loan is different and the terms of your note or the terms of the loan you are searching for may use a different method of calculating your mortgage payment than the calculator above. This tool is provided purely for comparative reasons and may / may not reflect the actual payments of your loan. It is imperative you consult with a mortgage professional or your existing lender for exact payment figures. We are not responsible for any typographical errors, omissions or mistakes. See our terms of use for more information.
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