I haven't heard this officially, but I can find out for sure if these are being approved and at which banks. I would imagine the rates would be 5-6% to be competitive. Contact me if you would like for me to do some research and get back to you. Have a great weekend and Father's Day.
Your Castle Realestate
These loans were misused and given to w-2 buyers, which was not the intent at all. This loan was designed for self employed buyers, just like me and you. I bought all my properties using these loans and never crashed and burnt. In fact this was the best investment I even made!
I have heard rumors that the stated income loans are coming back to Colorado. There is one lender that is advertising on Denver radio a program that sounds like the old stated income loans. I personally am not excited about seeing this come back even though it would work well for me at this time. I saw too many clients, friends and others who crashed and burned under the weight of these stated income loans that were almost forced upon them by unscrupulous lenders a few years ago. This was one of the primary programs that caused the economic and real estate crash. It is hard to believe that this is being considered again. I would love to hear other comments pro or con.
Robert McGuire ASR
Your Castle Real Estate
Direct - 303-669-1246
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