If you are in Virginia and want a home loan without handing over tax returns, it helps to know what you are really shopping for. The modern versions of no-doc lending are bank statement, P&L, 1099 and asset-based loans, each with its own paperwork. Programs vary by borrower, property and investor, so asking a loan officer which documentation reads your Virginia finances most accurately is a good starting point. Asking for more than one scenario shows how each method treats the same income.
Call to talk with a licensed loan officer. Programs vary by borrower, property and investor.
Mortgage lenders, brokers and loan originators serving Virginia are licensed by the Virginia State Corporation Commission, Bureau of Financial Institutions. Non-QM loans are made by the same licensed lenders and brokers, so you can confirm any company's or loan officer's license on NMLS Consumer Access before you apply.
Where the numbers point in Virginia
Counties with the most first liens with debt-to-income above 50% (2024):
| County | First liens with debt-to-income above 50% (2024) |
|---|---|
| the City of Virginia Beach | 904 |
| the City of Chesapeake | 739 |
| Fairfax County | 733 |
| Prince William County | 723 |
| Chesterfield County | 646 |
| the City of Norfolk | 592 |
| the City of Suffolk | 442 |
| Stafford County | 433 |
| the City of Newport News | 410 |
| the City of Hampton | 394 |
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Prefer to talk first? Call (888) 508-8976. Applying is not a loan approval or commitment to lend; programs vary by borrower, property and investor. ClearPoint Mortgage Advisors, NMLS #173855. Properties in FL, NY, NJ, PA, CT and VA only.
Local pages in Virginia
- Non-QM lenders in Virginia Beach
- Non-QM lenders in Richmond
- Non-QM lenders in Chesapeake
- Non-QM lenders in Norfolk
- Non-QM lenders in Arlington
- Non-QM lenders in Roanoke
- Non-QM lenders in Newport News
- Non-QM lenders in Fredericksburg
- Non-QM lenders in Alexandria
- Non-QM lenders in Hampton
- Non-QM lenders in Lynchburg
- Non-QM lenders in Charlottesville
- Non-QM lenders in Portsmouth
- Non-QM lenders in Suffolk
- Non-QM lenders in Blacksburg
- Non-QM lenders in Williamsburg
- Non-QM lenders in Winchester
- Non-QM lenders in Centreville
- Non-QM lenders in Dale City
- Non-QM lenders in Harrisonburg
- Non-QM lenders in Reston
- Non-QM lenders in Staunton
- Non-QM lenders in Leesburg
- Non-QM lenders in Ashburn
- Non-QM lenders in Tuckahoe
- Non-QM lenders in McLean
- Non-QM lenders in Danville
- Non-QM lenders in Lake Ridge
- Non-QM lenders in Annandale
- Non-QM lenders in Burke
Common questions
Why do no-doc mortgage lenders charge more?
Alternative-documentation loans are non-QM, which means they sit outside the Qualified Mortgage category and are usually sold to private investors rather than to Fannie Mae or Freddie Mac. Those investors take on more risk, so pricing is often higher. Lenders may also expect a larger down payment or more reserves. Comparing Loan Estimates is the clearest way to see the difference.
What is the Ability-to-Repay rule?
It is a CFPB rule requiring most mortgage lenders to make a reasonable, good-faith determination that a borrower can repay, using verified information. Lenders consider factors such as income or assets, employment, credit history, existing debts and the monthly payment. It applies to non-QM loans too, which is why no lawful home lender can skip checking your ability to pay.
What is a stated income loan today?
The term usually refers to a bank statement, P&L or similar non-QM loan marketed to self-employed borrowers. You are not stating an unverified number; the lender calculates income from documents you provide. The phrase survives because people still search for it, but the loans behind it today involve real verification and an ability-to-repay review, subject to credit approval.
Other non-QM options in Virginia
Bank statement loansNon-QM lendersSelf-employed1099 loansP&L loansAsset depletionNew self-employedITIN loansForeign nationalNon-warrantable condoBank statement HELOCInterest-only
Related guides
- Stated Income and No-Doc Loans Today: What the Terms Really Mean
- QM vs. Non-QM Loans: What the Difference Means for You
- Private Mortgage Lenders vs. Non-QM Lenders: What Is the Difference?
No-Doc & Stated Income Mortgages overview · Virginia non-QM overview
- 2024 HMDA data