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  2. Stated income loan - Wikipedia

    en.wikipedia.org/wiki/Stated_income_loan

    A stated income loan is a mortgage where the lender does not verify the borrower's income by looking at their pay stubs, W-2 (employee income) forms, income tax returns, or other records. Instead, borrowers are simply asked to state their income, and taken at their word. These loans are sometimes called liar loans or liar's loans. [1]

  3. Payday loan - Wikipedia

    en.wikipedia.org/wiki/Payday_loan

    This is an accepted version of this page This is the latest accepted revision, reviewed on 17 January 2025. Short-term unsecured loan A shop window in Falls Church, Virginia, advertising payday loans. A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a short-term unsecured loan, often characterized by high interest ...

  4. Mortgage prequalification vs. preapproval: How to time these ...

    www.aol.com/finance/mortgage-prequalification-vs...

    For your lender to verify your information, you’ll provide a range of financial documents, including recent pay stubs, W-2s or 1099s for the past two years, tax returns for the past two years ...

  5. 5 Cash Advance Apps That Don’t Use Plaid - AOL

    www.aol.com/5-cash-advance-apps-don-160752127.html

    The Consumer Financial Protection Bureau says the average payday loan is $320, but the average interest for that loan is $520. Today, payday loans have been largely replaced by cash advance apps.

  6. The truth about no-appraisal home equity loans: What ... - AOL

    www.aol.com/finance/what-is-a-no-appraisal-home...

    While interest rates are typically higher than home equity loans — currently averaging 12.33% APR for a 24-month loan but ranging from 6.94% to 35.99% — the approval process is usually faster ...

  7. No income, no asset - Wikipedia

    en.wikipedia.org/wiki/No_Income,_No_Asset

    No income, no asset (NINA) [1] is a term used in the United States mortgage industry to describe one of many documentation types which lenders may allow when underwriting a mortgage. A loan issued under such circumstances may be referred to as a NINA loan or NINJA loan .

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