Financing in Los Angeles>Question Details

walter shui, Real Estate Pro in pomona, CA

i need stated income mortgage with 30-40% down, Fico 740

Asked by walter shui, pomona, CA Tue Jul 30, 2013

loan value is about $120k. leave your contact info if you have this program.

Help the community by answering this question:

Answers

9
It's certainly possible with the right lender, The Lenders Network has different companies they use that can get your loan done.
0 votes Thank Flag Link Sat Nov 23, 2013
Hello Walter,

I have a 12 month bank statement program for self employed folks if that helps. If you are self employed and can show consistent deposits in your personal account from the business I might be able to help you out.
0 votes Thank Flag Link Wed Nov 13, 2013
Hello Walter,

We at Pacificwide Lending offer Stated Income Loans with 30-40% down & 740 credit score.

Please feel free to contact me to discuss our programs in detail.

Thank you for your inquiry & I look forward to hearing from you.

Best regards,

Darren Carlin
Loan Originator / Jr. Partner
CA BRE#01935124
NMLS#1016245
Pacificwide Lending
5506 Sunol Blvd. Suite 200
Pleasanton, CA. 94566
Office: (925) 461-0500
Cell: (925) 872-0695
email: dcarlin@pacificwidelending.com
web: http://www.pacificwidelending.com
0 votes Thank Flag Link Tue Nov 12, 2013
Hi Walter, is the property value $120K or is the loan amount $120K? Stated loan is not about your FICO score it is about your inability to prove or document income hence Stated Income Loan. With 40% down paying 5 points and 12% interest you too may be able to get a stated income loan. The bigger question is the the project or property in question. Good Luck
0 votes Thank Flag Link Sun Aug 4, 2013
We can certainly help you out. You can check us out at http://www.TheMortgageOutlet.com and give us a call. One of our loan officers will look at your situation and present you with some options.
0 votes Thank Flag Link Fri Aug 2, 2013
We offer stated loans nationwide.

Feel free to contact us at 800 315 8803.
0 votes Thank Flag Link Tue Jul 30, 2013
Hello Walter, we have hard money programs available to you with stated income. You will need a minimum of 40% down. Let me know if you would like to pursue it. Thank you sir! My direct line is (925) 872-0695 or email me @ dcarlin@pacificwidelending.com
0 votes Thank Flag Link Tue Jul 30, 2013
Walter,

Let me know why you have to go stated as there are some options available if your debt-to-income ratio are high, if there is a gap in your employment, if you have been self-employed for less than 2 yrs, etc...

If not we have a Private Money program (HARD MONEY) which will command 6 to 7% will a couple of points.

Cheers,

Thierry Abel
Senior Loan Consultant
All California Mortgage
A Division of APMC
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
E: tabel@allcalifornia.com
NMLS 304353 - DRE 01380701
0 votes Thank Flag Link Tue Jul 30, 2013
Good afternoon Walter,

First steps:

Meet in person with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for. Your Mortgage Banker will discuss the various loan programs, closing costs, and most important of all, monthly payment.

Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.

Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.

Put together your Team of real estate professionals and shop 'til you drop!

Trevor Curran
NMLS #40140

*If you thought my answer was helpful, please give me a “Thumbs Up” or “Best Answer.” Thanks!
0 votes Thank Flag Link Tue Jul 30, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer