Compare Mortgage Quotes

kimsanee · Joined: 01 Jun 2010 Posts: 1 1.41 Dollars($)

Hello,

i have a question regarding if there is a loan program out there that will work for me.

i have two properties that are rentals in texas.

I'd like to purchase a primary residence owner occupied property in California.

I have $190k to put down.

i am open to purchase a property $450k to $600k price range.

Are there any stated income loans with 60% ltv or 80% ltv out there?

any portfolio lenders?

Thank you for your help

-shawn

jameshogg · Posted: Tue Jun 01, 2010 8:35 pm Post subject:

Hi kimsanee,

Stated income loans are hardly available these days as lenders have stopped giving such loans after the crisis in the real estate market. However, I would suggest you to contact your local lenders in order to find out whether or not they can help you with such a loan.

Thanks

Posted: Tue Jun 01, 2010 8:38 pm Post subject:

are their any VOE lenders that do not require a 4506T?

i have 780 credit score and just thought having 40% down payment can help?

jameshogg · Posted: Tue Jun 01, 2010 11:43 pm Post subject:

Hi Guest,

Though you've a good credit score and down payment, you won't be able to get a loan unless you have a good income. You will have to provide the lender with at least 2 years of work history.

Thanks

tfaulhaber1 · Posted: Wed Jun 02, 2010 9:18 am Post subject: STATED INCOME LOANS

Every lender requires that you're self employed in you're seeking a stated income loan. Also, it depends on what state you're purchasing in. I know of lenders in NY, NJ, CT, and California.

Posted: Wed Jun 02, 2010 1:54 pm Post subject:

i am not self employed but am looking to purchase in CA. Does that help at all?

adonis · Posted: Wed Jun 02, 2010 10:56 pm Post subject:

Hi Guest,

If you're not self-employed and can provide the lender with employment history for the last 2 years and meet all other criteria, then you will be able to get a mortgage.

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Compare Mortgage Quotes

stated income loan

Bookmark this page

Helpful References

Calculators

Financial Tools

Our Community

Community Rewards

Followers (252)

455 People like Mortgage

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1