Stated Income Loan Interest Rates
Stated Income Loan Interest RatesWhen it comes to getting a stated income loan, interest rates may not be the thing that most people worry about first.
Stated income guidelines can be far more important because not every lender offers stated income loans, so people usually care about guidelines before they care about stated income rates.
Stated Income Interest Rates: What You Can Expect
When getting a stated income loan, you can expect to pay a higher interest rate than a conventional or even a jumbo loan because of the risk associated with the loan. Stated income rates are anywhere between 2-5% higher than a normal FHA loan interest rate.
“Regular” mortgage rates on average are displayed to the right, if you simply add a few percentage points to whatever today’s rate is, then you can get a ballpark of what the stated income interest rate is if you were to get a quote today.
Stated Income Loan Interest Rates: How To Get The Best Deal
When shopping for a stated income loan, the same rules apply when it comes to getting the best deal on your loan – shop around. Shopping lenders is the easiest way to save money on your new mortgage, because making banks compete for your business is good for you no matter what loan you are getting.
When it comes to stated income loans, it is even more important to shop around!
Start shopping lenders to help you with your stated income loan below, it only takes a few minutes to start shopping and making sure that you are getting the best possible interest rates on your stated income loan.
