Zillow Advice: Buying Process - Does anybody no of any banks that do No Doc loans? http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ Zillow Advice | Zillow Real Estate No Way - Have you not heard ... http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ No Way - Have you not heard of the <a href="http://www.zillow.com/mortgage/">Mortgage</a> Meltdown?<br/><br/>No Docs are for the History Books Tue, 03 Nov 2009 04:03:00 GMT http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ 2009-11-03T04:03:00Z Trying contacting the local ... http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ Trying contacting the local Mafia Cappo,<br/><br/>Im sure they will give you an offer you cant refuse<br/><br/>no questions asked!<br/><br/>&nbsp; Thu, 15 Oct 2009 23:07:00 GMT http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ 2009-10-15T23:07:00Z Hudson Bank&nbsp; is one ... http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ Hudson Bank&nbsp; is one of 2 banks in the country that still does no doc loans...with 40% down and a credit score higher than 680... Thu, 15 Oct 2009 22:02:00 GMT http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ 2009-10-15T22:02:00Z i know of a couple that still ... http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ i know of a couple that still do no doc loans Sun, 27 Sep 2009 04:39:00 GMT http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ 2009-09-27T04:39:00Z Also,&nbsp;many people may ... http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ Also,&nbsp;many people may disagree however, for my personal investments&nbsp; if&nbsp;I purchase under my corporation it has been easier for me to obtain&nbsp;financing through the commercial <a href="http://www.zillow.com/directory/lenders/">lenders</a>. Although your credit score is a factor it will allow you to take down more loans... Mon, 31 Aug 2009 23:16:00 GMT http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ 2009-08-31T23:16:00Z Yes, posting in the mortgage ... http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ Yes, posting in the mortgage section instead of the buying section is the place to find that kind of answer; and a google search should have privided several already anyway.<br/><br/>But if you have two fully paid for houses, you do not need to buy a house with a 70% <a href="http://www.zillow.com/mortgage-glossary/Loan-To-Value-Ratio-%28LTV%29/">loan to value</a> ratio; you can take out a loan on one of the houses that has been paid off, thus getting a much lower loan to value ratio, and then can apply that money to the new purchase.<br/><br/>And if you have been in business a while, your business will also have a credit rating, and there are plenty of companies that still are trying to give away credit to established companies, regardless if they are sole proprietorships or not, and regardless of the organizational structure and legal documents.<br/><br/>If you have enough equity to cover the loan, the lenders will give you the loan (at higher <a href="http://www.zillow.com/Mortgage_Rates/">interest rates</a>) regardless of income because they know they can collect by foreclosing.&nbsp; Sure, some don't want to add to their potential foreclosure inventory presently as they don't have the staff to handle what they presently have, but some will.&nbsp; You may need to do <a href="http://www.zillow.com/home-equity-loan/">Home Equity</a> Line of Credit (HELOC) on one of your existing homes; but the credit is available.<br/><br/>But if you have done "everything right", and have no credit card debt, and two fully paid off homes, you don't need "credit", you can pay cash.<br/> Tue, 18 Aug 2009 09:00:00 GMT http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ 2009-08-18T09:00:00Z Yes I now see your delima, ... http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ Yes I now see your delima, its the income level&nbsp;showing on the income tax return, which a bank looks at without reguard to true cash flow. That will be a tough sell, try all the independant <a href="http://www.zillow.com/mortgage/">loan</a> brokers and stay&nbsp;away from anything that is a bank or S&amp;L , the banks have a whole new set of rules they must now follow. &nbsp;and do re-post in the <a href="http://www.zillow.com/mortgage/">mortgages</a> section, you may find help. Tue, 18 Aug 2009 01:52:00 GMT http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ 2009-08-18T01:52:00Z Just because WF turned you ... http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ Just because WF turned you down, doesn't mean other banks will. Were you going through a <a href="http://www.zillow.com/mortgage/">mortgage</a> broker? Tue, 18 Aug 2009 01:07:00 GMT http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ 2009-08-18T01:07:00Z Sorry, I know that no one ... http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ Sorry, I know that no one meant any harm, but it's VERY frustrating. I have never been turned down for a <a href="http://www.zillow.com/mortgage/">loan</a> in my life.<br/><br/>rjon.101- &nbsp;I did all of those things, supplied all of my docs, above and beyond, including letters from my CPA, my bank officer and my brokerage firm. I was turned down by Wells Fargo after they put me through the ringer for 8 weeks and did everything but draw my blood -- which come to think of it would have been easier! Other brokers I spoke with and submitted my info to afterward didn't sound any more encouraging.&nbsp;I am able to write off a lot of non-cash deductions, primarily depreciation and other credits associated with my business.&nbsp;Therefore, my bottom line on my tax return is low, and actually shows a loss for one year. That's why I went looking for a "liar loan". I was told that was my only option.<br/><br/>Maybe I'll just become a drug dealer and pay cash. ;-) Tue, 18 Aug 2009 00:21:00 GMT http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ 2009-08-18T00:21:00Z You do not need a "no Doc ... http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ You do not need a "no Doc Loan" aka a liar loan. Since you have lived your life as straight foward as you say you have everything you need to get a fully documented loan. You have income tax returns, proof of income, paid off two houses that is 2 paid off <a href="http://www.zillow.com/mortgage/">mortgages</a>, those will show on a <a href="http://www.zillow.com/mortgage-glossary/Credit-Report/">credit report</a>. You have everything you need to get a good loan. No doc loans were &nbsp;for people who did not want to provide income tax returns, proof of income, who had no assets they wanted to show,&nbsp; quite literaly they were the loan of choice of drug dealers and such that is why the industry nicknamed them "liar loans"&nbsp; <br/>Try reposting in the <a href="http://www.zillow.com/mortgage/">mortgage</a> section. I doubt you will find one&nbsp; but the lenders can tell you if they have one. Tue, 18 Aug 2009 00:01:00 GMT http://www.zillow.com/advice-thread/Does-anybody-no-of-any-banks-that-do-No-Doc-loans/263558/ 2009-08-18T00:01:00Z