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Rocket Mortgage 620 for conventional loans, 680 for jumbo loans, 580 for FHA and VA loans 3% for conventional loans, 10%-15% for jumbo loans, 3.5 for FHA loans, none for VA loans
15- and 30-year fixed-rate mortgages; FHA loans ... Home Equity Loans; Brands: Rocket Mortgage: Revenue: US$15.735 billion (2020) Operating income. US$9.532 billion ...
Key takeaways. A no-doc mortgage offers a way to get a home loan without some of the income and employment verification paperwork lenders traditionally require, like W-2s and pay stubs.
For example, if your gross income is $6,000 per month, your mortgage payment should be no more than $1,680 (28 percent of $6,000), and your total debt payments (including the mortgage) should max ...
No income, no asset (NINA) [1] is a term used in the United States mortgage industry to describe one of many documentation types which lenders may allow when underwriting a mortgage. A loan issued under such circumstances may be referred to as a NINA loan or NINJA loan .
A loan with few to no documentation or credit history requirements is easier to qualify for, but generally carries a significantly higher interest rate. [2] The term came to prominence during the 2007-2008 financial crisis when up to one-third of all new mortgages issued were no-doc or low-doc loans. [3]
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