Are you a business owner or do you make a lot of cash for your money so you cannot prove most of what you make? Has this made it difficult for you to get a home loan? You can get an equity loan with no documentation to help you get through your situation without any struggles. You just need to know whether or not this type of of loan for your home is right for you or not and here is the answer.First, if you are a server, bartender, or another type of employee that makes cash tips as the majority of your income, then using a loan that does not make you prove your income might be the only way you can get a loan for your home. This is because you do not claim all your income and cannot prove as much of it as you might need. This type of loan will help you in the long run.Second, with an equity loan with no documentation you will not have to give the mortgage company any pay stubs, tax papers, or any other income documentation. However, you will need to have a good amount of credit in order to get the loan you need because that is what they are looking for.Last, just make sure that if you are in a situation that you can use this type of loan to your benefit that you can afford it. Sometimes an account executive for a mortgage company will try to get you to take a no doc loan in order to get you a loan. This might not be good because you might not be able to afford the loan and that might be why they are forcing it upon you.
