Who can get Low-Documentation loan?
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sigfried
Apprentice
Joined: 31 May 2004
Posts: 10
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 Posted: 10/25/08 - 09:25 Post subject: |
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| I have recently become aware of the existence of Low-Documentation loans and while I am not interested in this for myself, I would like to know more about those loans, simply out of curiosity. Could you tell me who can get such Low-Documentation loans and why these loans are chosen? |
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andris
Apprentice
Joined: 04 Aug 2008
Posts: 3
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| Posted: 11/24/08 - 01:58 Post subject: |
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| I think that just about anyone can get a Low-Documentation loan, but not just anyone would want to. They are taken out by people who have trouble in proving their income, due to the fact that they are self employed or have their own companies. The down side is that they have much higher interest rates. |
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