No Documentation
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Is limited documentation (aka EZ doc, no income qualifier) available on

Yes, it is possible to get a second mortgage without documenting your income. Most lenders will require that you have approximately 20% equity in your property (after closing on the second mortgage) and the rate typically will not be as favorable as when income documentation is provided.

No income verification loans on second mortgages are very rare and difficult to obtain. Typically they are asset based in nature and require verification that a borrower has 100% of the loan amount requested held in reserve in a liquid account.

To increase the likelihood of approval for a no income verification loan on a second mortgage, borrowers may need to demonstrate a strong credit history and a low debt-to-income ratio. Additionally, lenders may look for other forms of financial stability, such as consistent rental income or a significant investment portfolio, as supplementary evidence of the borrower's ability to repay the loan. It's also essential for borrowers to understand that these types of loans often come with higher interest rates and fees, reflecting the increased risk to the lender. By carefully evaluating their financial situation and considering the costs involved, borrowers can make informed decisions when exploring such specialized lending options.

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