topic Re: What is the score to get a no doc loan?? in Mortgage Loans

What is the score to get a no doc loan??

Anonymous — Wed, 19 Sep 2007 06:03:17 GMT

What is the score to get a no doc loan on a mortgage? I heard that it changed to what?

Re: What is the score to get a no doc loan??

Anonymous — Wed, 19 Sep 2007 17:05:29 GMT

Most companys just put a hold on no doc loan but they are still out there. You need to be over 660 and must have 6 months of reserves.

Re: What is the score to get a no doc loan??

Anonymous — Wed, 19 Sep 2007 18:32:34 GMT

you need to be at least 600, but will require a downpayment ( however very small )

Re: What is the score to get a no doc loan??

George2037 — Thu, 20 Sep 2007 01:54:54 GMT

I would agree with OneMortgageGuy, lenders have put a hold on No-Docs for anything under 660 and do require a substantial amount in reserves.

No-Doc's took a major beating in the past 8 months, lots of Mortgage bundles with no-doc loans and FICO averages of 700+ have higher default rates than the 620- (sub-prime). It's suspected the No-Doc loans were not exactly accurate, and because of that are much harder to obtain.

Re: What is the score to get a no doc loan??

Anonymous — Sun, 23 Sep 2007 05:13:22 GMT

What is no doc refer to?income?

thanks

Re: What is the score to get a no doc loan??

knotegroup — Fri, 16 Jan 2026 08:43:54 GMT

The idea of a single “credit score requirement” for a no-doc loan is a bit misleading, especially now.

Historically (pre-GFC), true no-doc mortgages existed and lenders relied heavily on credit score and reserves. That’s why older guidance mentions scores like 600–660. Those products largely disappeared after tighter regulation and higher default rates.

Today, what people call “no-doc” lending is usually asset-based or alt-doc lending, and approval is not driven by a hard credit score cutoff. Instead, lenders assess:

Security value and LVR (often capped around 60–70%)
Overall credit conduct (not just the score, but payment history)
Reserves or exit strategy
Purpose and structure of the loan

A weaker credit score doesn’t automatically rule a borrower out if there is strong equity and a clear repayment plan. Conversely, a high score alone won’t secure approval without acceptable security and risk buffers.

In short, modern no-doc lending is less about hitting a minimum score and more about risk management through collateral, structure, and exit, which is why requirements vary widely between lenders.

Re: What is the score to get a no doc loan??

MrBee25 — Fri, 16 Jan 2026 18:05:33 GMT

Due to the age of this thread (originally from 2007), it will be locked in order to keep discussions current. The mortgage lending landscape has changed dramatically since 2007, particularly regarding no-doc/alt-doc loans. If you have questions about current lending practices, please feel free to start a new thread on the topic. Thank you!