need a stated income investment loan in maine, can anyone he

mredeld · Joined: 27 Aug 2007 Posts: 1 1.40 Dollars($)

I am in need of a stated income investment loan in Maine. I own 10 other investment properties. Does anyone have information on hard money lenders as well? Thanks for your help.

Guest 0.10 Dollars($)

Investment loans are available but expect a higher interest rate as it would be a stated income loan. If you can provide some more details then we can tell you how much chances are there of being able to find a lender for the finance.

larry · Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)

Hi Mredeld,

Stated income loans are generally for those borrowers who earn more money than what they can prove with proper documentation. You can get stated income loans for your investment properties. But to qualify for such loans, you need to be in the same job for the past two years and you must have sufficient credit. You are likely to pay a higher interest rate for the stated income loan.

Guest 0.10 Dollars($)

DOES ANYONE KNOW A MORTGAGE COMPANY THAT HAS KNOWLEDGE OF THIS TYPE OF LOAN, THAT HAS EXPERIENCE AS WELL? THANKS EDGAR

Guest 0.10 Dollars($)

Did you try quickenloans.com?

Once I had taken from them...

ezmortgageloanz · Posted: Tue Aug 28, 2007 5:00 pm Post subject:

Ispecialize in investment financing but I can't tell if I can assist due to the lack of info---I would need to know things like:

- FICOs
- Cash Reserves
- Number of Properties Owned/Mortgaged
- Title seasoning on the property being financed

Regards,

Scott Miller

Guest 0.10 Dollars($)

Scott, would you mind if i ask you what scores exactly a lender looks for if he has offer investment loans? and what is title seasoning?

Guest 0.10 Dollars($)

Title seasoning means how long one has to be on the title. Lenders have requirement on seasoning when they offer loans to borrowers.

larry · Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)

Hi Janice,

To qualify for an investment loan, lenders generally require the borrower to have a credit score of around 620 or above.

And title seasoning means how long an owner should hold the title to a property.

All times are GMT - 7 Hours

Page 1 of 1