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A "full doc" loan requires the borrower to present all necessary documents, including income verification, to be considered for the home loan. This type of loan usually offers lower rates because it is less risky for the lender. In the past there have been loans which do not require the borrower to provide documentation of income - so-called "stated income" loans. These types of loans have virtually been eliminated over the past several months are lending standards have become more stringent.
Contact Royal Banks of Missouri to discuss your best home loan options by calling (314) 878-7272. |
