Stated Income Loans in New York, New Jersey Now Available Do you live in New York or New Jersey and need a stated income loan? At least one lender has made the announcement that they have stated income loans available in New York and New Jersey. He has teamed up with a few local portfolio banks located in New York and New Jersey who are still offering some of the best stated income mortgage products in the country.Stated income loans are ideal ideal for self employed borrowers and those who … [Read more...]
No Doc Loans Now Available
One version of a stated income loan is the "No Doc Loan". A no doc loan program means that no income, no assets, no fico score are considered when making the lending decision. Unlike a Stated Income Loan the Express No Doc Loan (no income, no asset, no fico), Business Entities such as LLC, Partnerships, Corporations or Irrevocable Trust may borrow as a No Doc Loan with personal guarantor(s).If you have a big down payment or quite a bit of equity in your home, it is possible to get a no doc … [Read more...]
Wells Fargo Stated Income Loans
Since Wells Fargo is one of the largest banks in the US, many people are wondering if they have stated income loans available. While we are unaware of any stated income loan programs available at Wells Fargo at the time of this writing, that doesn't mean that other lenders aren't currently doing stated income loans, it just means that you are going to need to shop around a little bit. Wells Fargo Stated Income Loans: When Available? Just because stated income loan programs may not be … [Read more...]
Stated Income Loans General Guidelines
Many people have wondered when stated income loans will be coming back to the marketplace and the answer may surprise you -- they are already here. Here is some general information about stated income loans from one lender (lenderline) who specializes in helping people get a stated income loan.Stated Income Loan Program Guidelines PROPERTY TYPES: Single family residences, PUDs, condos, townhomes and 2-4 units. No multi-family (5+ units), commercial or mixed-use properties. LOAN … [Read more...]
NINA No Income No Asset Loans Now Available
NINA loans are making a comeback and are now available through certain lenders. NINA stands for No Income No Asset verification and the NINA loan has been popular with small business owners before the lending industry went through its most recent financial crisis. The loan program information below is found at lenderline and is intended to be used as a general guideline as to what kind of NINA loan programs are available from stated income lenders who specialize in stated income loans. NINA … [Read more...]
SIVA Loans in California
If you are in California and looking for a SIVA (Stated Income Verified Asset) loan, you may just be in luck as they seem to be coming back into the market as something that lenders are starting to do again.According to information provided by mitchv@emoneylending.com, here are just a few of the loan programs that you can now get as a SIVA loan in California as well as other related options. SIVA Loans in California, Also SISA Loans Here are the basics of the SIVA and SISA loan programs … [Read more...]
Bank of America Stated Income Loan Program: Is It Real?
Does Bank of America offer a stated income loan program?Not that I am aware of as of August, 2011.But that doesn't mean you can't get a stated income loan from a trusted stated income lender - it just means that you have to know where to look. Stated Income Lenders: Usually Smaller Than Bank of America Most stated income lenders in 2011 are smaller banks who are going to portfolio your mortgage - and because they are not going to package it up and sell it to Fannie Mae or Freddie Mac, … [Read more...]
Stated Income and No Income Loans Available Now
Another stated income lender has come forward with some information on more stated loan products. Frank at frank@finance1online.com sent us this information about stated income and no income loans they can help with: No Income AND Asset VerificationMax loan $2MM $400K - 60% LTV Max cash out - 60%, no cap and no explanation on usage (NO CASH OUT IN TX) No minimum credit score- No pending combined collection matters over $5000 - No litigation in last 5 years other than … [Read more...]
Stated Income Loan In California Only
One of my friends in the mortgage business let me know about the following stated income loan that is currently available to residents of California. As covered in other areas of the site TRUE STATED LOAN IN CALIFORNIA ONLY NO 4506, NO INCOME DOCS, NO TAX RETURNSSELF EMPLOYED - NEED 3 MONTHS PERSONAL & BIZ BANK STATEMENTS (ALL PAGES) 60 LTV TO 500,000 55 LTV TO 750,000 50 LTV TO 1,000,000 PRIMARY HOME AND 2ND HOME ONLY PURCHASE AND RATE TERM REFI ONLY ( NO CASH OUT) 700 … [Read more...]
Stated Income Loans Available Now
Recently on BiggerPockets.com someone left a comment on a post about how stated income loans are no longer available.The comment:I wanted to update this thread because there are good changes to qualifying for residential home loan that may help many home owners who can afford a mortgage payment but can't qualify fully documented. The latest input to this topic is there are stated income loans and no doc available with good low rates...as opposed to hard money rates. There are many … [Read more...]
