Lite Doc Mortgage Loan
Lite Doc refers to a loan program necessitating 1-year full documentation of income and a 2-year work history. This requirement is standard for alternative documentation programs in mortgage lending. Mortgage brokers and loan officers find this requirement beneficial. For individuals with only 1 year of employment and income documentation, a Reduced Doc loan program serves as a solution. This program demands only 1 year of employment, catering to both W2 employees and self-employed individuals.