Do you want home loan without paperwork hassles?
Opt for no doc home loan, which requires no paperwork such as income proof or tax returns.
All loan types require documentation that are connected with your salary, and repayment capacity. However, in case of no doc home loans you don’t need tax returns or payslips. You can simply apply for loans without submitting any proof.
While the no doc loan appears simple and hassle-free, there are some stringent rules attached to this.
For one, the no doc loans can be easily availed, and it falls into the high-risk category. That’s why the lenders have made certain rules, which differs as per the loan amount and other criteria. In some cases, the person will have to mortgage a property or any other asset of equivalent value for the loan.
This security helps the lender minimize the risk associated with the loan.
How we Help?
- Quick Consultation: With a complete understanding of your needs, and an analysis of your assets and liabilities, we conclude if no doc loan is a good idea for you. we offer you consultation on the loan types and other aspects.
- Finding the Lender: We shortlist the lenders based on the different criteria set by you as well as your background. Based on our shortlist, we identify the lender most suited for your requirements
- Identify Alternatives: We help you find alternatives to no doc home loans, which fit your requirements and are a complete match. Our aim is to help you improve credit score and identify the best loan possibility.Require no doc loans, connect with us?
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Frequently Asked Questions
- What is the qualifying criteria to get no doc loans?
The purpose of the loan must fit the criteria set by the lending institutions for no doc loans. For instance, in case of a home loan, there is a set amount as well as type of home defined by the institution. If the property meets that eligibility factor then you can get the home loan. In case you are able to provide security against the loan amount you are planning to borrow, then you qualify for the loan. In some cases, the credit history of the lender matters in borrowing the money.
- What are the interest rate for no doc loans?
They are considerably higher than what you have for regular home loans. You may have to pay according to the time period selected, and as per the lending institution’s set terms and conditions.
- Will I be eligible for home loan packages?
Though you will be paying a slightly higher amount as interest, you will still be eligible for the home loan packages which consist of redraw option, professional discount packages as well as fixed & variable interest rates.