Has anyone heard of such income (no income doc loans) are completely gone?

I heard that lenders have stopped lending income reported in its entirety. Does this mean that everyone must provide tax returns, pay stubs and w2 for home loans and refinancing of eligible purchases? How many of you can with what you qualify for refiance or buy a home? Everyone will have a total debt (minimum monthly payment (for credit report), mortgage payment of property taxes and homeowner’s insurance) vs. operating ratio of 45% or less? Suppose you make $ 3500 per month you can afford to buy a house, pay taxes and insurance on that, pay your car payment, credit cards or student loans and remain in the month $ 1,500 total payments, so you eligible? Does anyone think it’s realistic?

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