What is the No Doc No Credit？
No Doc No Credit refers to a type of loan in which the lender doesn't require the borrower to provide documentation of their income, assets, or credit history.
No Doc No Credit Program Highlights
4 Years Fixed (3 Years PI Reserves) Balloon
5 Years Fixed (4 Years PI Reserves) Balloon
4 Years Fixed is only acceptable in CA, OR and WA.
Investment property with Max. Loan Amount: $3,000,000.
Subject property can not be vacant for Refinance.
Only Investment Property (1-4 units).
Standard 1 Yr PPP (1%) (All PPP must conforms to local State law requirements).
* Foreign National is not available.
* All require Reserves must be deposited in the account designated by AAA LENDINGS (Reserve Account: Non-Interest Depository Account).
Not Need to Provide:
1) Credit Report;
2) Bank Statement;
3) 4506-C;
4) Tax Returns.
Allowed:
1) Max. 70% LTV;
2) Property Type: SFR (1-4 units), Condo, Townhomes, PUD;
3) Only Investment Property: 1-4 Units;
4) Purchase & R/T Refi & C/O Refi.
