There are programs that allow for less than full documentation. Most of these programs require equity or a down payment. Please be aware that mortgage guidelines are tightening as the default rates on these types of loans has risen significantly over the last few years.
Full Documentation – Document employment, income and assets
Stated Income – Document employment & assets, state income.
Stated Income/Stated Assets – Document employment, state income & assets
No Income/ No Assets – Verify employment, do not disclose income or assets
No Doc – Do not disclose employment, income or assets
If you are looking at NINA or no income, no assets, you might want to consider a no ratio program. You verify employment and income, but the lender does not look at a debt to income ratio. This would give you better pricing.
These programs require higher credit score and equity or a down payment. Again, the guidelines on these programs are tightening across the industry.