We Offer Docless Mortgages On Some Of Our Loan Programs
Brand new docless mortgage loan program is available on certain loan products. We are a mortgage broker and have the ability to shop your mortage to find you the lowest rate. As result, some of our lender now offer docless mortgages but not all of them.
How Does The Program Work
To verify your assets, the lender will send you a link to your online banking. You need to log into your accounts. From there you have to take a screen capture of your bank account information. This information will be sent to the lender for the underwriter to review for final loan approval. When you are done, you log out of your account. If at any point in time, the bank needs to verify more assets, they have to send you a link for you to sign into your account. You then do a screen capture & send them your account information. At no time does the bank or your loan officer obtain your personal information. To verify your income, the lenders now have a new system that allows them to obtain all payroll information. You do not need to do anything.
If you have low fico score you will not qualify for the docless mortgage. Docless mortgages tend to be more Conventional loans and for borrowers with decent fico scores. If you are self-employed we will still need a copy of your tax returns. We need the tax returns in order to accurately calculate your gross monthly income. We also need tax returns for borrowers who own a part-time business or have unreimbursable business expenses.
Article 1: docless mortgage
For more information on our loan products, please call our office at 602-358-8717. A licensed loan officer would be more than willing to help you out.