no doc loan

How a No Doc Loan Work for the Self-Employed?

Being self-employed has a lot of perks. Unfortunately, it has some drawbacks, too. One of them is the difficulty in securing a loan. But do not fret as you can always choose a no doc loan from US Direct Lender.

Secure a Loan with No Doc Loans

If you are self-employed and wish to purchase a property, you may need to secure a home loan. However, when you apply for a loan, you will need to prove to the lender that you are capable to pay the loan.

To prove your ability, you need to submit documents, like assets and liabilities. These documents are quite difficult to secure for a self-employed. But it does not mean that you must not secure a home loan. What you need is to simply apply for a no doc home loan.

Also known as a low-doc loan, this type of loan does not require you to provide the documents of your income. It makes it more ideal for self-employed.

It is a great alternative financial product that is provided by a mortgage lender. This is especially beneficial if you cannot qualify for a traditional loan product. It typically happens when you are self-employed or a freelancer.

However, even though the term may suggest that there are no documents you need to submit, the reality is that you will still have to submit some documentation.

But the documents are not the traditional papers you will have to send to the lender. These documents will include the business’ name and registration information, business number, or income declaration that can show your regular income.

After submitting those documents, you can borrow up to 80 percent of the home’s value you wish to purchase.

no doc loan

What are the Fees?

There are additional fees associated with low doc loans. But they are all worth it. That is, you do not have to disclose your important documents that can be used in committing fraud by some lenders.

The process of applying for a low doc loan can be quite complex. But not if you apply it at US Direct Lender.

With our no doc lending service, you can protect your privacy, which is vital to many self-employed individuals. Keep in mind that traditional mortgage may require a lot of documents to prove your identity. Thus, if you value your privacy, you should consider getting such a loan.

Quick Application Process

Pursuing a no doc mortgage at US Direct Lender offers tons of benefits. It is especially beneficial if you want to secure the loan ASAP.

Our company is in direct lending. In that case, we use our own money and lend it to you. Thus, the approval process is quicker than the traditional lender, like a bank.

We have released loans to thousands of self-employed in Los Angeles. They have used the money not just in purchasing a property but to fund their investment projects, like putting an online website or upgrading their car.

For a free consultation about no doc loan, contact our direct lending company today at (800) 591-3514

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