What Is a No-Doc Mortgage, and Can I Still Get One?

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The no-income-verification mortgage, with its battered reputation, remains an option for some borrowers who have trouble getting a traditional home loan.

You might know this loan by other names: no-doc, low-doc or stated-income mortgage. Critics of these loans say they allowed risky borrowers in the early 2000s to buy homes they could not afford, which contributed to the housing crash of 2008.

But some experts say no-income-verification mortgages still have a place in today’s home loan landscape.

“These mortgage loans allow consumers to qualify in cases where traditional loan requirements would prevent them from being able to buy or┬árefinance a home,” says Jamie Cavanaugh, vice president of outreach for the Association of Independent Mortgage Experts and president of Amerifund Home Loans.

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