– A No Doc loan or Low Document loan provides increased ease and privacy when getting a mortgage. In the past, anyone could apply for a no doc loan but now loans like this are for self employed borrowers. No doc loans are also available to those who are self employed and who need a bad credit mortgage.
Low interest rates spur refinancing Lenders struggling with record requests – Last time, lenders coped with impatient refinance customers by eliminating all or most of the loan documentation. But many were burned when these "no-doc" and "low-doc" loans went into default and the.