No doc loans?

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Can a first time homebuyer with a 700Fico qualify for a 100% no doc loan? Looking preferably at 80/20 with no pmi and would prefer to pay no points down. Who are some lenders to try and what rates should I be expecting to pay?

No doc loans?

They are out there depending on the number of tradelines you have (generally 5 needed with at least one being 2 years old and high credit of 1k). Be prepared to pay very high rates 8+ and 12+. My question would be why the no doc?

No doc loans?

You don't say what State you are located in. You want to go stated income? Why? 80/20 only refers to your loan to value. If you have enough equity, then you can avoid PMI whether it's stated or full doc/limited doc. Your rate is going to be higher for a no doc loan. And as above answerer said, you need some established trade lines, but you must have them if you know your credit score and it's 700. However, you are going to have to wait for them to pull a true tri-merge; if you are relying upon NO mortgage history, your credit score may not be the same as a true Fico mortgage credit score.

No doc loans?

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