Zillow Advice: Mortgage Types - Seattle - Low and No Doc Loans http://www.zillow.com/advice-thread/Seattle-Low-and-No-Doc-Loans/461699/ Zillow Advice | Zillow Real Estate It really depends on what ... http://www.zillow.com/advice-thread/Seattle-Low-and-No-Doc-Loans/461699/ It really depends on what type of loan and what type of equity situation you are in. LTV and assets also come into play. The best way to figure it out is to contact a local, reputable lender and discuss your situation with them. Wed, 30 Jan 2013 04:18:00 GMT http://www.zillow.com/advice-thread/Seattle-Low-and-No-Doc-Loans/461699/ 2013-01-30T04:18:00Z I like James Evans answer ... http://www.zillow.com/advice-thread/Seattle-Low-and-No-Doc-Loans/461699/ I like James Evans answer because he is right, it wasn't low doc or no doc loans that caused the mess, it was the lack of a requirement of equity. We have investment properties and have been doing no doc loans since the 1980s, very successfully. All properties have at least 50% LTV ratio, now without low docs (I am a self employed private &nbsp;practice psychotherapist) it is very difficult if not impossible to move around assets. There is ZERO risk to a lender- we have been making payments, never missed one, for over 30 years and plenty of equity. Much more risky for a couple with little debt, buying a house with 10% down and perfect credit, which seems to be the demographic mortgages are aimed at now...if you know of a lender who would have a product as i describe (not willing to pay a much higher rate tho), let me know. Tue, 29 Jan 2013 12:31:00 GMT http://www.zillow.com/advice-thread/Seattle-Low-and-No-Doc-Loans/461699/ 2013-01-29T12:31:00Z These types of loans are ... http://www.zillow.com/advice-thread/Seattle-Low-and-No-Doc-Loans/461699/ These types of loans are badly needed and what most people make the mistake of thinking and believing is that they were the source of the mortgage mess. That is not correct. The issue was and has always been the amount of skin in the game so to speak and responsible appraisals that take risk of an area into account..<br/><br/>Think of it this way, which loan is riskier, making a loan for 80% of a properties value to a borrower that has little assets otherwise but documents their income or making a loan of 50% of a homes value to a borrower with good credit but shows no income documentation?&nbsp;<br/><br/>Without question the riskier loan is always the higher percentage no matter if the income is documented or not. So there in reality there is a balance. 100% financing is always a mistake and is always riskier. FHA is now under water for the 1st time ever due to all the excessive FHA government lending since 2009. No Doc loans are stable if done well. Tue, 27 Nov 2012 23:25:00 GMT http://www.zillow.com/advice-thread/Seattle-Low-and-No-Doc-Loans/461699/ 2012-11-27T23:25:00Z There are a few loan options ... http://www.zillow.com/advice-thread/Seattle-Low-and-No-Doc-Loans/461699/ <p>There are a few loan options available to you depending on the type of loan you have. For instance if you have an FHA loan you can do a non credit qualifying Strealine regardless of the value with no income information. The same is true for a VA loan.<br/><br/>There are expanded guidelines for DTI on HARP loans, meaning any loan owned by fannie or Freddie that were originated prior to June 1st 2009.<br/><br/>There are a number of no doc loans available today, however they are all dependent on Equity which in this case you do not have any. It is true that no doc loans have contributed to the overall financial crisis, however they are not bad in all cases. The original no doc loans were specifically for people who had hard to document income, or a great asset base. The problem is when these loans became available to the general population including people that had easy to document income, but chose to do no doc loans to get qualified for higher loan amounts.</p> Wed, 03 Oct 2012 06:10:00 GMT http://www.zillow.com/advice-thread/Seattle-Low-and-No-Doc-Loans/461699/ 2012-10-03T06:10:00Z I hope no one because that ... http://www.zillow.com/advice-thread/Seattle-Low-and-No-Doc-Loans/461699/ I hope no one because that is how the housing mess started. Thu, 27 Sep 2012 21:00:00 GMT http://www.zillow.com/advice-thread/Seattle-Low-and-No-Doc-Loans/461699/ 2012-09-27T21:00:00Z if ltv over 100%...no lenders ... http://www.zillow.com/advice-thread/Seattle-Low-and-No-Doc-Loans/461699/ if ltv over 100%...no lenders <br/><br/>washington federal has a asset based loan ......but&nbsp; ltv is&nbsp; very low&nbsp; ( like 60% and you need to show tons of assets ) Thu, 27 Sep 2012 20:55:00 GMT http://www.zillow.com/advice-thread/Seattle-Low-and-No-Doc-Loans/461699/ 2012-09-27T20:55:00Z