Do you know who is offering stated income loans in Los Angeles, California?

Asked by Statedloan, Los Angeles County, CA Tue Mar 13, 2012

Need stated income loan in Los Angeles, California

Who is offering this product

Help the community by answering this question:

+ web reference
Web reference:

Answers

35
Jessica Bate…, Agent, Beverly Hills, CA
Tue Sep 5, 2017
Stated income loans are long gone ever since the housing market crash. If you have a unique situation you may want to try The Lenders Network. They have lenders they can refer you to who work with all sorts of situations, self employed, low credit score, etc. I would recommend checking them out, they have a lot of lenders that work with credit issues they can refer you to.

Good Luck!
3 votes
, ,
Thu Apr 27, 2017
Stated income loans are no longer available for owner occupied property. They are only available for investment property now.
http://www.northcoastfinancialinc.com/hard-money-lenders-cal…

All lenders must verify the borrower's income and ensure they are able qualify with a reasonable debt to income ratio.

Not even hard money lenders are able to get around the current regulations.
1 vote
Self Employed…, , Los Angeles, CA
Thu Jul 25, 2013
Everyday we speak to self-employed people here in California that are successful and have good credit but are routinely turned down by banks and brokers when applying for a loan to purchase or refinance their home.


We have access to new mortgage options such as:

1. 12 months of business or personal bank statements

2. 1 year tax returns (no more 2 year averaging)

3. Substantial assets

4. No income ratio for loans under 50% LTV

In the past, a majority of self employed people would simply seek out a stated loan in order to purchase or refinance property. After the housing and mortgage meltdown, many of these loan programs simply disappeared. Lenders soon became more stringent with their lending guidelines and it became subsequently harder for people who owned their own businesses to qualify for financing. Now that the real estate market is making its way back, a small number of lenders are now expanding their guidelines to become more attractive to certain buyers who have been neglected.

Give us a call at 800-598-9790 or visit http://www.selfemployedmortgageloans.com for more details.
1 vote
, ,
Mon Apr 1, 2013
We have stated income and stated asset SISA loans. The rates are a little higher but if you can apply for stated income verified assets SIVA the rate can be as low as 4.99% on owner occupied loans.

Go to http://www.StatedIncomeLender.info to see rates, terms, and guidelines for these loan products. These particular loans are for California only. Or call and ask for Jamie at 310-737-8420
1 vote
Dana Nguyen, Agent, Westminster, CA
Wed Mar 13, 2013
We, Dalihan Realty & Financial http://(www.DalihanFinancial.com), are offering stated income loans for real estate in CA at very competitive rates and fees. Please call us at 1-888-478-2833x101.
1 vote
Hjsdifsdaf234, Home Buyer, Philadelphia, PA
Tue Sep 5, 2017
Stated income loans are long gone ever since the housing market crash. If you have a unique situation you may want to try The Lenders Network. They have lenders they can refer you to who work with all sorts of situations, self employed, low credit score, etc. I would recommend checking them out, they have a lot of lenders that work with credit issues they can refer you to.

Good Luck!
0 votes
Mike.bacher, Home Buyer, Hemet, CA
Wed Aug 2, 2017
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 W2s.
No tax returns.
No 4506-T.
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.

http://www.lenderline.com
0 votes
Sam, Home Buyer, New York, NY
Tue Jun 6, 2017
Hi There

There are several Stated income options available for both self employed and wage earner borrowers. Borrowers will need to still verify assets in some cases and also will need at least 20% equity to qualify. The rates vary between 5% to 7% depending on qualifications.

You can contact Custom Mortgage in Los Angeles at 310-504-2666 or visit the website at https://custommortgageinc.com to apply today.

Sam Tehranchi
Custom Mortgage
0 votes
Eric, Home Buyer, Philadelphia, PA
Fri Apr 14, 2017
Here is where you can find everything you need for a stated income loan . You can look up down payment information as well as find a lender who may assist you.
There is information here also regarding No Doc Loans.

Stated income mortgages can be hard to find though and depending upon your situation you may or may not find a stated income lender who can help you.

Stated Income Loans http://www.dreamhomefinancing.com/StatedIncomeLoans.aspx
0 votes
, ,
Fri Jun 19, 2015
Hello Statedloan, yes we offer stated income loans, bank statement loans and all other secondary market loans. You would need a minimum 700 fico score and from 30% down to qualify for stated income loans.

It only takes a few dozen questions to qualify and go over your options. Here are some links to study as well as web reference links to many loan program pages offered...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
22+ Years Experience
BRE# 01140252
NMLS# 297251
760-486-4225
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
http://youtu.be/MrygA2_8fAY
http://www.trulia.com/profile/SherylArndt

If my response was helpful, consider clicking Thank, Link or Best Answer.
0 votes
Farzi Maniza…, Agent, Northridge, CA
Thu Jun 18, 2015
yes - bobby compton is the lender I work with when I have buyers who have different types of lending situations. Tell him Farzi sent you and told you to ask about the "bank deposit type loans" He will know what I am referring to. 626-945-2382
0 votes
Swaraj, Home Buyer, New York, NY
Tue Jun 16, 2015
Hello,
I found a few brokers in your area who could help you out. I would suggest contacting:
Craig Barton- https://www.inzopa.com/pro/mortgage-broker-craig-barton
Alexander Kim- https://www.inzopa.com/pro/mortgage-broker-alexander-kim
David Lawver- https://www.inzopa.com/pro/mortgage-broker-david-lawver
0 votes
Mike.bacher, Home Buyer, Hemet, CA
Tue Jun 16, 2015
LENDERLINE® in Newport Beach, California, is currently offering stated income verified asset mortgages under the following guidelines:

• Property must be located in California.
• Primary residence, second home or investment properties allowed.
• Purchase, rate and term refinance, or cash out refinance allowed.
• Single family residences, PUDs, condominiums, and 2-4 units allowed.
• 70% LTV to $625,000 loan amount with 720 credit score.
• 60% LTV to $1,000,000 loan amount with 720 credit score.
• 55% LTV to $1,500,000 loan amount with 720 credit score.
• 700 minimum credit score (5% LTV reduction to above for 700-719 credit score).
• W2 or self-employed allowed.
• No tax returns or 4506-T.
• 6 or 12 months PITI reserves required (see guidelines).
• Foreign nationals OK with foreign employment letter and 24 mos. reserves.
• Down payment/reserves must be seasoned for 2 months.
• Borrower may own up to 8 financed properties including subject property.

LENDERLINE® also offers alternate documentation loans such as 12 months business or personal bank statements. For more information call LENDERLINE® at 1-888-661-7888 or visit us at http://www.lenderline.com. LENDERLINE® is licensed by the California Bureau of Real Estate, Broker License # 01058154. NMLS # 463086.
0 votes
Mike.bacher, Home Buyer, Hemet, CA
Tue Jun 16, 2015
LENDERLINE® in Newport Beach, California, is currently offering stated income verified asset mortgages under the following guidelines:

• Property must be located in California.
• Primary residence, second home or investment properties allowed.
• Purchase, rate and term refinance, or cash out refinance allowed.
• Single family residences, PUDs, condominiums, and 2-4 units allowed.
• 70% LTV to $625,000 loan amount with 720 credit score.
• 60% LTV to $1,000,000 loan amount with 720 credit score.
• 55% LTV to $1,500,000 loan amount with 720 credit score.
• 700 minimum credit score (5% LTV reduction to above for 700-719 credit score).
• W2 or self-employed allowed.
• No tax returns or 4506-T.
• 6 or 12 months PITI reserves required (see guidelines).
• Foreign nationals OK with foreign employment letter and 24 mos. reserves.
• Down payment/reserves must be seasoned for 2 months.
• Borrower may own up to 8 financed properties including subject property.

LENDERLINE® also offers alternate documentation loans such as 12 months business or personal bank statements. For more information call LENDERLINE® at 1-888-661-7888 or visit us at http://www.lenderline.com. LENDERLINE® is licensed by the California Bureau of Real Estate, Broker License # 01058154. NMLS # 463086.
0 votes
Jean Shen, Agent, Diamond Bar, CA
Mon Apr 13, 2015
?EZ FUNDING??Sohth California Only??Closing within 5 days?
?e offer No doc loan which can be closed within 5 business days after we getting the appraisal report.
No Income,No Asset,No Credit is OK?Both citizen and foreingner are OK?
?Any type of properties are OK?
LTV up to 80%, CLTV up to 80%, Rate start from 7.99%
Please call Nancy at (909)967-3151
0 votes
Maggie, Renter, West Covina, CA
Tue Jul 16, 2013
East west bank offers stated income loans.
0 votes
Lender Line, , Newport Beach, CA
Wed May 29, 2013
LENDERLINE is offering Stated Income Verified Assets (SIVA) loans at up to 80% loan-to-value in California only. Guidelines are as follows:

• Purchase, rate and term refinance, and cash-out refinance allowed.
• Single family residences, PUDs, condominiums, and 2-4 units allowed.
• Primary residence, second homes or investment properties allowed.
• U.S. citizens, permanent residents, and foreign nationals allowed.
• No prepayment penalty.
• Up to 80% LTV maximum. LTV is based on occupancy and loan amount.
• Up to $2,000,000 loan amount. Maximum loan amount is based on purpose of loan and occupancy.
• 700 minimum credit score for U.S. citizens and permanent residents.
• No credit scores are required for foreign nationals.
• No rental late payments during past 12 months.
• No mortgage late payments during past 24 months.
• No history of NOD, foreclosure, short sale, bankruptcy, or repossessions.
• No unpaid judgments, liens, or collections.
• Income stated on loan application must be reasonable for the position of employment.
• No tax returns, paycheck stubs, W-2, 1099 or 4506-T will be required.
• Self-employed or W2 allowed.
• No industry exclusions.
• Debt-to-income ratios cannot exceed 45%.
• Employment must be verifiable by a CPA or IRS enrolled agent (for self-employed) or verbal verification of employment (for W2) with no reference to income.
• 100% of the down payment may be gifted for primary residence.
• 6 months PITI reserves are required. Reserves must be seasoned for 2 months and come from borrower’s own funds.
• The SIVA loan program is available in every County in the State of California.

For more information contact:

LENDERLINE
5000 Birch Street, Suite 3000
Newport Beach, CA 92660
Toll-Free: (888) 661-7888
Website: http://www.lenderline.com
0 votes
, ,
Wed May 29, 2013
SIVA - California Stated Income Loans is our specialty! With our stated income stated asset loans they can be for Purchase, Refinance or Cash out. The max loan to value is 80% LTV. No 1040s, no tax returns and no W2's and no IRS form 4506 needed. Not having to sign a IRS form 4506 is extremely important. Because if a lender gets that form, in their hand, they can check with the IRS anytime in the future your tax returns.

We offer stated income loans up to 2,000,000.

Our stated income mortgage loans are Owner-Occupied Primary Residence, Second Homes and Non-Owner Occupied - SFR's, 2-4's and Condos. 4.99% program needs 700 FICO other programs low fico or no fico is okay.

Call Equity Development's Loan Center at 310-737-8420
Visit us on the web at http://www.statedincomelender.info/
Available in California.
**Ask about our no income no asset NINA loans too.**

*****
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**
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0 votes
HI
Flag Sun Nov 10, 2013
Cindy Wells, , Los Angeles County, CA
Mon Apr 29, 2013
Gary Bowen

There are over 820 Gary Bowen’s in the USA some have done stupid bad things some have not do not hate or hang every Gary Bowen.

Maybe the Gary Bowen you know or work with name matches some other Gary Bowen, not every Gary Bowen is a bad person or piece of trash.

To be smart and safe if you are ever concerned pay to run a full FBI quality background check on the Gary Bowen you know or work with, don’t throw the wrong Gary Bowen under the bus.

If the Gary Bowen you know or work with is willing to allow you to run a full FBI quality background check on him just maybe he has nothing to hide from and is not as bad as his name has been painted across the internet by an ex-employee.
Remember not one of us is perfect and many of us have come across problems and delete with problem people before, so maybe your Gary Bowen is about the same as the rest of us not perfect.

Every Gary Bowen together prays you do use good judgment when you do read their full FBI quality back ground report because not all of us are perfect but thank God most Gary Bowen’s never killed 8 in Pennsylvania stole cars in 31 states, beat any woman.

I bet hundreds of Gary Bowen’s nationwide suffer from these hundreds of false postings all over the web by some wacky person.

The Police and FBI currently have the person they call the internet hacker who posted these hundreds of false stories under surveillance for his large collection automatic weapons next to a Elementary School in Texas where this 20 year old internet hacker lives who has terrorized Gary Bowen’s nationwide.


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Cindy
0 votes
vincefrc, , Granada Hills, CA
Mon Apr 1, 2013
I can do conventional stated income loans in CA for purchase and Refinance 70% max LTV with competitive rates. Anyone interested please can contact me.

thank you

Vahe P.
818-424-9574
0 votes
what about in nevada?
Flag Mon Aug 25, 2014
Mike Bacher, , Newport Beach, CA
Wed Mar 13, 2013
LENDERLINE is offering Stated Income Verified Assets (SIVA) loans in all California counties. Call us toll-free at 1-888-661-7888.
0 votes
Mike Bacher, , Newport Beach, CA
Thu Feb 21, 2013
LENDERLINE is offering Stated Income Verified Assets (SIVA) loans in all California counties. Call us toll-free at 1-888-661-7888.
0 votes
Chris Cranda…, Home Buyer, Toluca Lake, CA
Thu Feb 21, 2013
Chris Crandall at Surety Financial, 310.676.6666 x264
0 votes
Finance1onli…, , Los Angeles, CA
Wed Sep 12, 2012
Finance1Onine is doing Stated Income Loans to 70% in several states. Very low rates as well. Visit http://www.finance1online.com/stated-income-loans/ for more information.
0 votes
j1010, , Bristol, CT
Wed Aug 29, 2012
here is the list of stated income programs
http://www.mortgageinvestment.us/
0 votes
, ,
Fri Aug 3, 2012
As of 2012 our company has several stated income loans ( just 25% down ) for California properties both owner and non owner occupied. For stated income loans go to http://www.StatedIncomeLender.info we have the easy doc / ez doc loans rates and terms published. Or call Equity Development at 310-737-8420 .
0 votes
Dominique Wi…, , Clovis, CA
Fri Jul 27, 2012
We offer stated income/no doc business loans to investors. We can also finance repairs/upgrades and loan fee's into the loan so essentially it is 100% financing with no down payment.

Dominique Wilder
Universal Acceptance
559-375-2512
dominique@emailua.com
0 votes
Bill Cook, Mortgage Broker Or Lender, Manhattan Beach, CA
Tue Jul 24, 2012
They are not offered with every lender and it is very hard to find. Honestly, there are sources out there with 5 to 6% fixed rates.

I have seen posting from brokers who claim it is illegal and gone, & don't have it or their inner circle of 20 yrs of lending does not have it. Times have changed, there is a source and Trulia may not be that source to get it. Now more than ever, brokers have pocket relationships with a small regional bank which has this portfolio product. (very unlike the old days from 2000 to 2007 where everybody had it)
I do know they will check your tax returns from a 4506 signature (so no lying or falsifying)

I know a licensed broker who still has it. No fooling, no kidding or bait & switch and he will not share the it with me. So, I just refer it to him. It is 65% to 70% LTV and the terms can change at any given time unless you are approved and going to funding. It is a different stated income where they see your bank statements so somehow they got around that Dodd-Frank Bill. You knew it would come back in some form or another. Way back in the early 90s it was EZ Qualifier at 70% maximum and there weren't issues until they did it at 100% LTV & stupid underwriting at the turn of the century.

Send me your contact info. Again, it is not wholesale. He only works with principals.
Good luck
0 votes
Ron Thomas, Agent, Fresno, CA
Tue Jun 19, 2012
10 to 12% Interest with 35% down!

What can you say to that?
0 votes
Saiholmes, , Los Angeles, CA
Tue Jun 19, 2012
You could call 626-376-5199.
They do offer stated income home loans.
0 votes
Statedloan, Home Buyer, Los Angeles County, CA
Thu Mar 15, 2012
for those who responded that stated income loans are no longer available - you are ill informed

There are currently 3 lenders possibly more offering these mortgage loans in Los Angeles

East/West Bank
Carthay Bank - owner occupied only
American Plus Bank, N.A., Arcadia

Hope this helps with anyone looking for this product
0 votes
John Bender, Agent, Corona, CA
Wed Mar 14, 2012
Athas Capital Group will do them up to 65% LTV. They are a hard-money lender and the interest rate will be 10-12%. They'll do 24-month bank statements to 70%. Rates drop down to the high 9's in that scenario. :)

None of the "regular" lenders do stated anymore.
Web Reference:  http://inlandfinancial.net
0 votes
Dorene Slavi…, Agent, Torrance, CA
Tue Mar 13, 2012
Dear Stated,
I am not a loan officer, but we hear from them twice a month at our meetings. Stated income is a thing of the past and has not been accepted as income to my knowledge since 2008. If you are self employed and have an accountant who has taken care of your taxes and P&L etc. your accountant might be able to assist you at your personal bank in obtaining a loan there. That would be your best bet and only if you are well known to the bank.
0 votes
Suz A, Agent, Longmont, CO
Tue Mar 13, 2012
I do not know of any. The Financial Reform Bill supposedly did away with stated income loans. You might research the HUD and VA websites.

Here are some links to\ the latest articles:

http://www.lender411.com/mortgage-articles/4057/Do-Lenders-D…

http://www.thetruthaboutmortgage.com/stated-income-bad-for-l…

http://www.thetruthaboutmortgage.com/stated-income-loans/
0 votes
Carl Henker, , 95928
Tue Mar 13, 2012
The program you are looking for is gone, stated income is a thing of the past. Documentation of the ability to repay the loan will be required for any conventional program. Perhalps with 40% to 50% down you may find a hard money lender that cold provide a loan. However most are no longer providing owner occupied loans. Sit down with an experience loan officer and determine what you may qualify for.
0 votes
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