STATED INCOME VERIFIED ASSET LOANS TO 60% LTV
LENDERLINE® is currently offering stated income verified assets loans up to 60% loan-to-value (LTV), under the following guidelines:
Property must be located in the State of California.
Up to 60% loan-to-value (see underwriting guidelines).
Minimum 680 credit score.
$100,000 minimum loan amount.
$2,500,000 maximum loan amount for 1-unit PUD & SFR.
$1,500,000 maximum loan amount for 2-4 units.
$750,000 maximum loan amount for condominiums.
Primary residence, second home or investment properties.
Purchase or rate and term refinance. Cash out not allowed.
SFR, PUDs, condos, townhouses, and 2-4 unit properties.
For sale by owner transactions are not allowed.
2 years' VOE with no reference to income required for wage earners.
2 years' business license or CPA letter required for self-employed.
No home-based businesses, must have a commercial location.
Credit report must show current employer.
No realtors, loan officers, property flippers, or landlords.
Income is stated but not verified (see underwriting guidelines).
Most recent 2 months' bank statements must support income stated.
No paycheck stubs.
No tax returns.
Up to 43% DTI.
Reserves of 12 months PITI required.
US citizens and US permanent residents allowed.
Non-permanent residents allowed with acceptable visa.
Gift funds allowed. See underwriting guidelines.
Reserves must come from borrower's own funds on all transactions.
Impounding of property taxes and hazard insurance not allowed.
Available only as a 7/1 ARM, fully amortized, term of 30 years.
No prepayment penalty.
LENDERLINE® is your stated income verified asset lender of choice. Stated income loans, also known as SIVA loans, are back. Call today, and get your stated income loan California.
Questions? For today's interest rates, or to receive a FREE consultation CALL LENDERLINE® toll-free at 1-888-661-7888.