Needed guidance in respect of loans

whitewhite840 · Joined: 10 Sep 2008 Posts: 1 1.71 Dollars($)

I've got great credit, but every lender I talk to tells me that I don't have enough income to qualify for a loan. I've asked about "stated income" loans, but they tell me investor stated income loans are so expensive it doesn't make sense to use them. There have always been no money down "gurus" out there that claim they can do no credit, no down deals. Does anyone know if this is really possible and are there any good "free" resources for this information?

chrisburns · Posted: Wed Sep 10, 2008 4:02 pm Post subject:

If you have 700+ credit and 20%-25% to put down you can do a stated income purchase loan for an owner occupied home.

You can inquire through this site and have a qualified mortgage professional contact you.

gmakerley · Posted: Fri Sep 12, 2008 9:21 am Post subject:

undoubtedly, there are many professionals on this site with whom you can consult.

as for products available, there still exist products that allow for as little as 10% down. as for those who claim to be able to do what you mentioned with zero down; that might be attainable, but be prepared to pay a much higher rate than you'd otherwise expect.

chrisburns · Posted: Fri Sep 12, 2008 9:26 am Post subject:

There are still 90% SIVA loans out there?

gmakerley · Posted: Fri Sep 12, 2008 10:29 am Post subject:

i know, chris; i'm surprised, too. we offer them...also sisa at 90%.

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.03 Dollars($)

Stated income loans are hard to come by even for those with great credit.

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