Lite documentation

The Lite Documentation is useful for borrowers who cannot document their income through standard means, i.e., pay stubs and tax returns. With Lite Doc programs, the borrower provides six to 12 months of bank statements.

The lender's underwriter will then track the deposits into that account to determine an average monthly revenue. As you can see, this is not a full NIV program—but it is often cheaper than full NIV loans.

The Lite documentation program is more of a compromise between full documentation and No documentation programs. It is sometimes called Alternative Documentation program.

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