A low-documentation loan is a type of mortgage that does not require the borrower to meet stringent income and asset verification. Typically, most loan programs require a borrower to provide verification of their income as well as tax records and bank statements. A low-documentation loan has less stringent criteria and is ideal for someone who is self-employed as a freelancer or contract worker and may not have paycheck stubs to verify their earnings. Borrowers may be allowed to provide other sources of verification in order to determine how much they are qualified to borrow. During the housing boom, lenders were processing an increased number of low-documentation loans. Today, many lenders avoid offering these types of loans because of the increased risk associated. Borrowers who need a less restrictive loan program may still have various options available to them, including low-documentation loans.