“Stated” Income Commercial Real Estate Loans are Back—and Better

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Prior to ’08, when commercial lenders were ramping up their sales volumes to compete for big securitization dollars, borrowers could simply state their personal and property income in lieu of revealing inferior debt-service coverage ratios. Lenders became overly comfortable relying on stated income instead of verified data, and gradually even lowered borrower credit score requirements… [Read More]

Stated income loans make comeback as mortgage lenders seek clients

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Mortgage applicants who can’t provide tax returns or pay stubs to show their income are getting stated income loans again as companies such as Unity West Lending and Westport Mortgage chase customers they can no longer afford to ignore. Lenders say these aren’t the same products as the so-called “liar loans” that were pervasive before… [Read More]

Stated Income Loans – Mortgage Loans That Don’t Require any Income Docs

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For stated income loans 2015 has been a breakthrough year. What is perhaps the most significant factor with stated loans is the fact that they do not require a person to furnish any income documents whatsoever. This makes stated income loans ideal for self-employed individuals, or those borrowers that do not have a stable source… [Read More]

No Need to Furnish Tax Returns

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While most traditional mortgage loans require a borrower to furnish their income tax returns, stated income home loans do not have any such requirement. We can help you, visit us today.

Stated Income Loans in 2015 Required No Income Documents

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How Mortgage Loans Have Changed in 2015 Qualifying for a mortgage after 2008 became very restrictive, especially for people who do not have abundant or stable income. People who show less income on their tax returns have not had the option to refinance or purchase real estate by getting a conventional loan from a lending… [Read More]

Stated Income Loans in 2016: Yes, They Are Coming Back

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Just a few years ago, stated income loans were very popular and there were plenty of stated income lenders who had flexible guidelines and low stated income rates. Then the credit crisis hit and lenders began pulling their stated income mortgage programs. As lenders began to stop offering stated income loans, many small business owners… [Read More]

Reasons for stated income loans

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These loans are nominally intended for self-employed borrowers, or other borrowers who might have difficulty documenting their income. Stated income loans have been extended to customers with a wide range of credit histories, including subprime borrowers. Stated income loans fill a gap of situations which normal loan standards would not approve. For example, a standard… [Read More]