Find Student Loan Consolidation

1. HuaracheKid Says:
   August 30th, 2008 at 10:25 am

   Yes. Some common names are low doc (document), no doc or stated income loans. You will pay a higher interest rate for these types of loans and you usually have to have a mininum credit score. These types of loans appeal to people whose income is difficult to document, such as self-employed, commission, etc.

2. lepr0kan Says:
   September 1st, 2008 at 3:49 pm

   This is called a stated loan. There really aren’t very many any more unless your credit score is above a 720. There are still a few stated income deals at a few lenders but everyday fewer and fewer lenders are doing them and it’s thought in the mortgage industry that they will be completely gone within a few months. You’d still have to verify assets, verify that you are employed, the stated monthly income would have to be reasonable for your job and you have to have a down payment.

3. Bob Says:
   September 4th, 2008 at 3:18 am

   It doesn’t make sense to the lenders anymore, either.

   A lot of the loans that have gone bad in the sup-prime mortgage blow-up were no-income verification loans.

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