No-Asset Loan

No-Asset Loan

A documentation requirement where the applicant's assets are not disclosed.

See Documentation Requirements.

References in periodicals archive ?
With a 700 credit score, I can do a no-income, no-asset loan [for the client].
The one that Linda felt made the most sense was a no-income, no-asset loan, which she was willing to do in this case because of the borrower's high down payment and good credit.