There are many limited documentation mortgages available. They come in a variety of programs; some have self-employment, credit, equity or asset requirements so it may be advisable to contact a mortgage professional in your area direct you to the appropriate product for your needs. Mortgage Info Guide is a local mortgage professional that can help you and can be reached at or info@themortgageinfoguide.com.

There are also mortgages available to individuals who cannot verify either their income or assets (referred to as NINA mortgages). Keep in mind that these products can carry higher interest rates than that of a mortgage that is fully documented. A good rule to remember, the more documentation a borrower can provide for a lender, the lower the rate they will typically get.

Another very common limited documentation mortgage that is available is to opt to go with a bank statement program to be used as your income documentation. Instead of documenting tax returns and/or W2's and pay-stubs, you may be required to show 6, 12, or 24 months worth of bank statements to use for your income. Most lenders will simply add up the total deposits for each month and then divide by the specified number of months to come up with an average monthly income.