Financing in 02453>Question Details

linm329, Home Buyer in Waltham, MA

Only verifiable income is soc. security. Have 401K and cash assets the triple amt. of loan needed. Where in MA can I find stated income loans?

Asked by linm329, Waltham, MA Sat Apr 20, 2013

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Heath Coker’s answer
I would contact a local lending professional to help with this answer.
There is not enough detail in your question.

I know this guy can be helpful: rtranchell@totalmortgage.com
Bob Tranchell Total Mortgage Services LLC (508) 367-5731 cell


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0 votes Thank Flag Link Mon Apr 22, 2013
Not sure what the advice below will accomplish? There is no such thing as a stated income loan any more. We could use 401k distributions as income if you are taking regular distributions.
0 votes Thank Flag Link Sun Apr 21, 2013
To the best of my knowledge, banks only look at last 2 months of statements. Move funds into your account and don't apply for a preapproval or mortgage until after two + months go by so that you have two bank statements showing $ in your account but not being deposited into it.

Hope that helps and please confirm this with a lender.
0 votes Thank Flag Link Sat Apr 20, 2013
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