Stated Income Mortgage
If you are a successful business owner and at some point, you tried to apply for a mortgage loan but you do not qualify for a conventional loan because the way you file your tax returns, then our stated income loan program is the answer. After all, why should the self-employed have difficulty qualifying for a mortgage when they are the foundation of American business?
We offer a stated income mortgage program or also known as a No Income Verification mortgage that is suitable for the self-employed individual who is just not showing the income that qualifies them for a full income check mortgage. We add value by providing a smart fast and easy way to finance a primary residence and investment 1 through 4 residential and commercial property loans with no income documentation required.
Some of the loan program highlights are:
- Loan Amounts up to $2 million
- Up to 75% loan-to-value, that 25% down payment
- Jumbo loan amounts from $2 million to $5 million, requires 30% down payment
- Up to 60% loan-to-value for Refinances
- Residential or commercial properties
- No income verification needed or required
- Fast closings – usually 30 days
- Great loan option for self-employed individuals and foreign nationals
So what makes us different? We have all the dependable characteristics of a professional mortgage broker and all the flexibility and speed of a private lender with none of the downsides. Let us show you what we mean, as a mortgage broker we are not working for anyone but you, our stated income loans have thirty-year terms so borrowers will not be faced with a balloon mortgage. Our common sense underwriting approach allows us to fund loans that banks won’t because we never request pay stubs, w2’s or tax returns, we ignore the DTI (debt to income) ratios and we leave out the 4506 form.
We know that borrowers deserve better options and better options are exactly what we offer. Our stated income loan is not a familiar process as we don’t ask for the same documents that are used for full income loans, just a loan application and a credit report. So if you are having difficulty obtaining a mortgage loan because you are self-employed or writing off expenses that don’t qualify you for a loan, our stated income mortgage is the answer. Give us a call or fill out the Fast Quote request form and one of our courteous professionals will try to help you with mortgage financing.
*This product is not regulated by the New York State Department of Financial Services