what is stated income mortgage loans

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Stated Income Loans | Exclusive Self Employed Loan Programs in CA – With a Stated Income Home Loan, you simply state your income on the application, and the underwriters will review it based on your credit score, occupation, bank statements and other assets. We offer wide variety of home loan programs for self-employed buyers such as Bank Statement , Foreign Citizen Program , Investor , Asses Qualification.

Stated income loan – Wikipedia – A stated income loan is a mortgage where the lender does not verify the borrower’s income by looking at their pay stubs, W-2 (employee income) forms, income tax returns, or other records. Instead, borrowers are simply asked to state their income, and taken at their word. These loans are sometimes called liar loans or liar’s loans.

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Stated Income Loans are making a return. Pros, Cons, and. – Finding stated income mortgage lenders. You will need to have great credit, high downpayment and high income to get approved. Remember that stated income loans will have high interest rates and lender fees. However, these loans are still much less expensive than other investment loans, like hard money loans.

What Is a Stated Income Home Loan? | The Truth About Mortgage – Another "setback" to a stated income loan is that a bank or lender can ask that you fill out an IRS Form 4506-T, which basically authorizes the lender to request your tax returns from the IRS for the previous two years.

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Bank Statement and Self Employed Mortgages – Jumbo Loans, 10%. – Bank Statement home loans, bank statement mortgages, bank statement lenders, Stated Income and Bank Deposit Income Qualifying. Purchase and Refinance for Owner and Non Owner. Also Programs with BK, Short Sale, Foreclosure and Low FICO. stated income, bank

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Stated Income Mortgage Rates – StatedIncome.org – 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.