GreenBox Loans Inc. offers stated income loans up to $2 million at 60% LTV with a 720 FICO score. 1-4 units OK. They also offer mortgages one day out of foreclosure. Guild Mortgage Co. offers jumbo loans up to 95% LTV with reduced short sale waiting periods. Some programs allow loan amounts as high as $3 million and interest-only options.
Problem: Borrower is a foreign national with no income documentation or credit. Solution: Our Jumbo Investment program allowed for Stated Income No Doc qualification and a fast close in 7 days. Please contact an Account Executive for a free rate quote today! Call or Email Below
Alternative Lending + Bankable Rates = Merger Completed 2017. Debt to Income ratio did not qualify with Wells Fargo conventional loan . Solution: Our Jumbo non consumer Residential program allowed for No Debt to Income ratio, thus allowing this borrower to qualify.. Stated Income Loans.
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Stated Income Loan Requirements. loan types: 5/1 arm and 7/1 ARM. Minimum Credit Score: 700. Maximum / Minimum Loan Amount: $2,000,000 / $453,101. Down Payment: 30% on Loan Amounts up to $1,000,000 40% on Loan Amounts up to $2,000,000 Reserve Requirements: Loan amount <= $650,000, mimimum liquidity = $100,000; Loan amount > $650,000 to $1,000,000, minimum liquidity = $250,000
In the past, stated income mortgages were home loans where lenders did not verify or document income at all, and were called stated income loans because lenders used the income stated on a loan application to issue a loan. stated income loans started to rise in popularity in the early 2000s.
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Stated income loans can be qualified by cash flow (bank statements), FICO score, rental income, cash reserves, and loan-to-value in and of itself (or in combination). These standards greatly enhance qualification, and can be used to purchase, refinance, or refinance taking cash out of the property.
What’s up with mortgage rates?. at 3.0 percent, a 30-year agency high-balance at 3.75 percent, a 15-year jumbo. ITINS are for people who have tax filing or income reporting obligations.
Stated Income Loans. We also offer true Stated Income Loans & Asset Qualification Loans. These programs require a greater down payment than our bank statement loan programs, higher credit scores and net worth. call mortgage pros Texas to discuss your situtation at (512) 346-7767. highlights