The worst of them earn the nickname "ninja loans," short for "no income, no job, and (no) assets." The nation's struggling...In the industry, they are called "liar loans" _ mortgages approved without requiring proof of the borrower's income or assets. To make sure that you're getting the best mortgage rate available in the market, it is important that you also obtain all information on important costs involved. Getting the best mortgage rate is knowing how much of a down payment you can afford. Aside from that, getting the best mortgage rate is knowing what is the interest rate of your loan.
