No-doc loan

Over 2200 Glossary Terms

No-doc loan

A shortened term for “No documentation loan”. When a borrower supplies a minimum amount of information and the lender makes their decision based on credit history and the size of the down payment. These loans typically have a higher interest rate.

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Loan Type Today
30 yr fixed 4.83
15 yr fixed 4.39
5/1 ARM 3.69

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