Posts Tagged "1500"

Q&A: Anyone can tell me I can get a stated income mortgage loan and the monthly payment would ne more than 1500?

on Oct 16, 2012 in Stated Income Loans | Comments Off on Q&A: Anyone can tell me I can get a stated income mortgage loan and the monthly payment would ne more than 1500?

by eyewashdesign: A. Golden Question by Gucci: Anyone can tell me I can get a stated income mortgage loan and the monthly payment would ne more than 1500? For 220,000 loan ,credit score is 715 Best answer: Answer by dzwreckIn order to get a stated income loan for a 220k loan amount and keep your payment at or below 1500 you would need to qualify for a rate of 7.25%. This would give you a 1,500 monthly payment (not including taxes and insurance). There are many factors, besides stated income, that would determine wether you would qualify for that rate or not on a stated income loan. Credit score, loan to value, time on job, money put away, etc… would all help factor into whether or not you would qualify for that rate (or possibly lower) or not. Know better? Leave your own answer in the comments! Q&A: Anyone can tell me I can get a stated income mortgage loan and the monthly payment would ne more than...

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