Finance
A 'no-doc' or 'stated income' mortgage loan primarily appeals to borrowers who:
AHave no income
BHave difficulty documenting income through traditional means, such as self-employed individuals✓ Correct
CWant to avoid all closing costs
DAre purchasing investment properties
Explanation
Stated income or low-documentation loans were historically used by self-employed borrowers or those with non-traditional income streams. These loan types carry higher risk and stricter regulations post-2008.
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