Posted on: 18th Aug, 2009 01:39 pm
NEED A SIVA HELOC ON AN SFR INVESTMENT PROPERTY IN AZ,800 FICO, FREE AND CLEAR TITLE,PROPERTY VALUE 120000.CURRENTLY RENTED FOR $1100, ANY IDEAS?
Hi KALITO,
Stated income loans are hardly available these days. Keeping in mind the present market situation, most of the lenders have stopped giving the stated income loans. In this situation, I don't think you would get a stated income loan for an investment property.
Stated income loans are hardly available these days. Keeping in mind the present market situation, most of the lenders have stopped giving the stated income loans. In this situation, I don't think you would get a stated income loan for an investment property.
not only are stated income loans virtually disappeared, but heloc on an investment property is a rarity, as is the stated/investment scenario.
i'm not confident that you'll find a lender willing to grant such a loan.
i'm not confident that you'll find a lender willing to grant such a loan.
I think it will be possible if both the applicant including your spouse is also made co-applicant in the case then there will be some chances of getting the loan.
Have you ever taken loan previously for the business purpose, you can show them the track record of repayment so it will be an added advantage.
Have you ever taken loan previously for the business purpose, you can show them the track record of repayment so it will be an added advantage.
sure