Question Details

Mandyru,  in San Lorenzo, CA

is anyone know about which lender does stated income loan? Thank you1

Asked by Mandyru, San Lorenzo, CA Sun Feb 5, 2012

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I have two investors who will do stated. I actually closed one as high as 89.50% LTV (based on sales price but appraised value was higher). One is an investor loan only and the other can be used for owner-occupied but max LTV is 60%. See below link and call me if you have any further questions.
1 vote Thank Flag Link Mon Feb 6, 2012
No one does a stated income anymore. Federal regulations require us to verify that the borrower can afford the mortgage.
If they have investments, they can do a mortgage based on that.
1 vote Thank Flag Link Mon Feb 6, 2012
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