A documentation specification in which the income of the borrower is revealed and confirmed but is not used in the process of qualifying the applicant. Income and expense, the common maximum ratios, are not used in this situation.
Related information about no ratio loan:
- No Ratio Loan - Mortgage Glossary | Quicken Loans
No Ratio Loan definition from the mortgage glossary at QuickenLoans.com. Learn mortgage terms and jargon with the Quicken Loans Mortgage Glossary.
- What is a No Ratio Loan?
All banks look at a borrower's income compared to their debt. This is called the debt to income ratio. For example, conventional mortgage guidelines call for a ...
- Underwriting Guidelines for a No-Ratio Loan
When you apply for a No-Ratio loan, no income information is needed by your lender.
- No Ratio Loans | Mortgage Reference Library
The No Ratio loan does not take into consideration your debt-to-income ratios. This type of loan is perfect for someone that has high debt ratios. You can get up ...
- What is a No-Ratio Loan? - loan.com
A no ratio loan is a type of loan that does not require a borrower to present his or her debt to income ratio to a lender. A debt to income ratio shows the ...
- No Ratio Loan
No Ratio Loan - A loan where the borrower does not put any information about his/her income on the loan application. The decision for the approval is made ...
- What is no ratio loan? definition and meaning
Definition of no ratio loan: A documentation specification in which the income of the borrower is revealed and confirmed but is not used in the process of ...
- NO DOC, NINA, SIVA, SISA Home Loans - BankerBroker.com ...
A variation on this theme is the No Ratio loan. This one .... A stated income loan and a no ratio loan are different that obtaining a no doc mortgage. A stated ...