Full doc, low doc, no doc.
The three real estate documentation tiers — explained for ISOs and brokers. Full doc (full documentation): tax returns, W-2s, paystubs. Low doc: bank statements, DSCR, 1099, asset depletion. No doc: asset-based, hard money, private money. Speedy filters lender routing by doc tier — no wasted submissions.
The three tiers
Doc-tier breakdown.
Full doc (full documentation)
Conventional, agency, life coComplete income verification — 2 years of tax returns, W-2s or paystubs, bank statements, asset verification, full employment documentation. Required for the lowest rates (5.5-7.5%) and longest terms (5-30 years). Process is the slowest: 30-60+ days to close.
Low doc (low documentation)
DSCR, non-QM bank statement, asset-basedReduced income verification. Bank statement loans use 12-24 months of personal or business bank statements instead of tax returns. DSCR uses property rent only. 1099 income loans use just the 1099. Common for self-employed borrowers and investors. Rate range 7-9.5%, 21-30 day close.
No doc (no documentation)
Hard money, private money, transactionalNo borrower income verification. Underwriting is purely asset-based — property value, equity cushion, and exit strategy. Rates 10-14%, terms 6-18 months, but closing in 3-7 days. Best for speed-sensitive scenarios, no-credit borrowers, and complex structures.
Side-by-side
Doc tiers across products.
| Tier | Products | Rate range | Close speed | Max LTV |
|---|---|---|---|---|
| Full doc | Conventional, agency, life co | 5.5-7.5% | 30-60+ d | 75-80% |
| Low doc | DSCR, non-QM bank stmt, asset-based | 7-9.5% | 21-30 d | 75-80% |
| No doc | Hard money, private money, transactional | 10-14% | 3-7 d | 65-75% |
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