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Loan Document Types

Different types of loan documentation helps mortgage lenders decide on the types of mortgages or loans that specific borrowers can get approved for.

Your mortgage lender will recommend the most suitable loan documentation that fits the borrower’s financial situation and needs.

Contact Us to find out which loan type best suits your needs.

 
FULL DOC
ALTERNATIVE DOC ("ALT A")
Employment Verification
Income Verification
Certified copies of most recent 2 years W-2's
1 full month of year to date paystubs
Verbal verification of Employment
STATED INCOME
NO RATIO

Income stated, but not verified on application Disclosure of Assets and Employment are verified with VOD that discloses 2 month average account balance

~ or ~
2 most recent bank, brokerage and/or mutual fund account statements
Employment must have 2 year history in same field/line of work
Income must be reasonble for the line of work the borrow is in.
DTI (Debt-to-Income) is not calculated
Disclosure of Employment and Assets are verified
Assets are verified with either a written VOD that discloses a 2-month average account balance or 2 most recent bank, brokerage and/or mutual fund account statements
Employment or recent credit history must be consistent with level of mortgage debt applied for
Employment is verified written or verbally and must have 2-year work history in same field/lline of work
NINA (NO INCOME / NO ASSETS)
SISA (STATED INCOME / STATED ASSETS)
Income and Assets are not stated on the application and are not verified
Disclosure of Employment is required and is verified, written or verbally and must
disclose a 2-year employment history in the same field/line of work
1 year of documented graduate or post-graduate school history plus one year of
employment in the <o:p></o:p>same field is satisfactory
Employment or recent credit history must be consistent with level of mortgage debt
applied for
Income and Assets are stated on the application but not verified
Income stated on typed application must be consistent with the initial signed application
Disclosure of Employment is required and is verified written or verbally and must disclose a 2-year employment history in the same field/line
of work
1 year of documented graduate or post-graduate school history plus one year of employment in the same field is satisfactory
NO DOC W/ ASSETS
NO DOC
Income and Employment are NOT stated or verified anywhere on the application
Assets are verified with either a written VOD that discloses a 2-month average account balance or 2 most recent bank, brokerage and/or mutual fund account statements
Income, Assets and Employment are not stated or verified anywhere on the application