Westport Mortgage

Wow?  Can you believe it?  No Doc is back! 

What’s No Doc?  No Doc means that no income or asset information is verified on your mortgage application. 

Too risky, you say?  Back to the same old stuff that got us into this mortgage mess to begin with?  The answer is no.  There are extenuating circumstances, even for the best of us, that sometimes don’t allow us to sufficiently document income and assets  to qualify for a  more traditional type of  mortgage. 

Select lenders are creating a niche with No Doc loans in Fairfield County.  Good credit is a must and substantial down payment is required. 

Rates are  reasonable, but, are of course, higher than your basic conventional loan rates.  Adjustable rate mortgages are typically the best value for this type of financing.

 You can use this product to purchase your dream house or vacation home, to refinance or take cashout of your home, or to buy investment property.

Appraised values are key to No Doc loans.  Each lender has an appraisal review department that scrutinizes the appraisals for sufficient value.

These loans aren’t for everyone.  But, they can work well for those who might need this type of financing.   I highly recommend that you do your homework and  review all of the options available to you before jumping into a No Doc mortgage loan.

Yes, you heard me correctly.  90% financing is available for loan amounts to $708,750 in Fairfield County, Connecticut. 

Not so long ago 90% financing, or piggyback loans, or 80-10 loans were usual and customary.  But, then came the mortgage crisis and financing oppportunities for loans above the conventional limit of $417,000 became a thing of the past.  Why?  Wall Street lost it’s appetite for securitizing these big loans. 

Today, we have a small number of agressive lenders available to handle the needs of Fairfield County residents. Only select lenders and mortgage insurance companies are offering this opportunity to those looking to buy a home in the $800,000 price range.  Of course, you will need good credit and sufficient income.  But, aren’t those  the borrowers who deserve this mortgage opportunity?