no doc fla. rates

what s the rate for a no doc loan in florida with 2 (700) credit scores? … thanks

I’m gonna respond with a couple questions myself:

What is the property type and occupancy level?
Is it a purchase or a refinance?
How much is the down payment or equity?

Answer those for me and I’ll get you what you’re looking for, more likely than not. My partner is at the Jacksonville office.

thanks jp… will be primary residence, …$500,000 loan amount, 100,000 down…single family residence…

does this truly have to be a No Doc loan or could it be NIVA (No Income Verified Assets)? That program would probably give you a more favorable rate

Yes, as Mark says, there are several different types of No Doc loans. From lower rates to higher rates they are:

Stated income/ verified assets- must be able to document assets
Stated income/ stated assets- don’t document anything, but must verify employment history
No income/ no assets (No Doc)- nothing is verified or documented, basically a blank loan application.

There are also other factors that can affect the rate you can get such as how long you plan to own the property, whether or not a prepayment penalty is acceptable to you, and points vs. no points.

With no points, no prepayment penalty, on a 5 year ARM, you would probably be in the mid- 7’s (7.5%) on a true No Doc.

400,000 Loan Amount
500,000 Sale Price
80% LTV

Primary Residence
700 FICO

6.5% 30 Year FIXED

No real price improvement with ARM.


Just curious what lender you have that rate with because I would like to be able to add them to my arsenal. I just closed a no doc with a $428,000 loan amount at 7.5% and that was the best I could find (with no points).

In house rates.

Home Loan USA


No, but Indymac rates are usually close to ours. Have you checked them out?

I have heard of a lot of folks using them, but I haven’t yet. I will have to check them out.

how many points?

No YSP on 6.5

I am pulling up rates of 7 at par at IndyMac

I don’t know what to tell ya. Atleast indymac is offering better than the 7.5%.