Are you looking to refinance your mortgage, but have run into road blocks when it comes to proving your real income? Do you need to get a mortgage without having to use tax forms or paycheck stubs to prove your income? If this is your situation, then you should be looking into a no doc mortgage loan. Here is what you need to know.

A no doc loan is one that is provided basically on a signature. With a mortgage, however, this is usually a loan that there is no proof of income necessary. They will still pull your credit and verify your home value. Everything will be the same as a traditional mortgage except they will not verify any of your income.

These types of mortgage work great for tipped employees, self employed individuals, and independent contractors. These are the type of individuals that usually make more money than what they can prove on their tax form for many different reasons.

The proper way to get a no doc mortgage loan is to shop the rate and fees. get yourself a broker and a few mortgage companies to give you quotes in writing. Once you have the quotes you can compare them and negotiate with the different companies. You should expect your rate to be a bit higher because you are not providing any proof of your income, but it should not be outrageous.

Use this information and find yourself the no doc mortgage that fits your needs. You may have to search around a little more than normal in order to find the right program and company to fit your needs, but just stick with it because there are plenty of companies that do stated income mortgages.