New Stated Income Loans Program!
Stated Income Loans – No Income, Asset or FICO!
Stated Income Loans up to 65% LTV NO FICO, NO ASSETS (also see our no doc loan program) with low competitive conventional rates! Stated income loans limited to CA, GA, MA, NY, TX and WA (other states case by case)!
New Stated Income Loans Guidelines
Unique programs: The New Stated Income Loans is limited to CA, GA, MA, NY, TX and WA (other states case by case). Our banking contacts at several lending institutions have given us a new unique stated income loans product to offer to our borrowers. Example: 3yr & 5yr ARM. True stated income program specifics:
New Stated Income Loans Program General Guidelines:
- NO Min FICO min w/ combined collections above $5K, no litigation in the last 5 yrs; BK and prior foreclosure considered
- NO Required Liquid Assets
- NO cash out cap, no explanation needed to 50%. 6 months seasoning required
- Residential: OO, NOO, Investment, 1-4 Units
- Purchase, R/T Refinance no seasoning required
- Self Employed and W2 accepted
- Purchase 65% to 400K, 60% to $2M; refinance 50% LTV
- OO/NOO ARM: 3/1 & 5/1; FIxed: 30 yr, 15 yr
- States: CA, MA, NY, TX and WA (other stares case by case)
- Foreign National allowed Case by Case
- Max number of properties finance: 2 total
- Trusts, LLC, Corporations, Non-Occupant Co-Borrower Allowed (no non-warrantable condo)
* Note: Stated Income Loans county restrictions may apply. No stated income loans banking relationship necessary for loans $2M and under. Required in some cases for alt states or super jumbo stated income loans.
After the mortgage crash stated income loans became very scarce, even non existent. Now, through our immense banking network we have established several banking institutions who will lend to qualified borrowers stated income.
Even though the stated income loan is a SIVA loan (Stared Income Verified Assets), in some cases, qualifying criteria may be considered No Income/No Asset. (NINA). Each stated income loans borrower is looked at individually and case by case.
Stated Income Loans for purchasing property requires a 35% down payment. A refinance with no cash out requires 35% equity position in the property and a cash out refinance requires 40% equity position in a property. Stated income loans for Foreign Nationals are available and are welcome to apply, same LTV and guidelines.
Examples of stated income loans we have completed are as follows: 680 FICO 50% LTV the lender close a loan of $1M with cash in hand in CA; 720 fico, 50% LTV 12 months liquid assets, $589K loan in NY; 50% LTV, 700 FICO, investment property, $210K loan amount in Tx. List goes on and on. Stated income loans are here and we are closing them.
Types of Stated Income Loans:
- Stated Income Verified Asset (SIVA): No income verification with asset verification.
- Stated Income Stated Asset (SISA): No income verification with no asset verification.
- No Income Verified Asset (NIVA): No income stated or verified with asset verification.
- No Income No Asset (NINA):No income stated or verified with no asset stated or verified.
- No Doc (ND): No income documentation of any kind.
- No FICO: Requires assets and income however FICO is not a factor.
Currently Stated Income Verified Asset (SISA), Stated Income Stated Asset (SIVA) and No Doc, Asset, Income, FICO loans (NINA) loans are available.
You can help us understand more about your Stated Income Loans needs by contacting us or submitting an Executive Summary
Please contact us with your Stated Income Loans questions at 1-888-814-8406 , or by email at info@finance1online.com.
Stated income loans are not available in all states. For more Stated Income Loans information please call or email.