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Stated Income/ Verified Assets Loan California?

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planetgogo Joined: 12 Aug 2010 Posts: 2 1.58 Dollars($)	Posted: Thu Aug 12, 2010 2:59 pm    Post subject: Stated Income/ Verified Assets Loan California? Like 0 Dislike 0 Is it possible to get stated income/ verified assets loan in CA? Credit score 730. Looking for $200k loan and I have $50k deposit.
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Thu Aug 12, 2010 9:04 pm    Post subject: Like 0 Dislike 0 Welcome planetgogo, It is quite difficult to get stated income loans these days. Most lenders have stopped giving such loans after the real estate crisis. You can contact the local lenders and check out whether or not they are ready to help you with a stated income loan as you're ready to give $50k as down payment. _________________ Procrastination is the enemy of your financial success
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Fri Aug 27, 2010 4:22 pm    Post subject: Like 0 Dislike 0 In 2008 and 2009, the minimum loan amount, to my knowledge, for a stated income loan in California was upwards of $650000. Someone seeking a loan for less than that is restricted to documenting income, assets, etc. I don't think you'll have any luck whatsoever in finding anyone to lend under the terms you are seeking. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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