A "No Ratio" loan is a type of mortgage loan where the borrower's debt-to-income (DTI) ratio is not considered as part of the underwriting process. In traditional mortgage lending, lenders typically assess a borrower's DTI ratio, which compares the borrower's monthly debt payments to their gross monthly income, to determine their ability to afford the mortgage payments.

However, with a No Ratio loan, the lender does not take the borrower's income or debts into account when evaluating their eligibility for the loan. Instead, other factors such as credit score, employment history, and the loan-to-value (LTV) ratio of the property may be considered.

No Ratio loans are often used by borrowers who have high incomes or significant assets but may have complex financial situations that make it difficult to calculate a traditional DTI ratio. These loans may be particularly appealing to self-employed individuals, investors with multiple properties, or those with irregular income streams.

It's important to note that No Ratio loans may come with higher interest rates or other terms compared to traditional mortgage loans, as lenders are taking on additional risk by not assessing the borrower's ability to repay based on income and debt obligations. Additionally, these loans may be less common and may require a larger down payment or higher credit score to qualify.