Posted on: 01st Jun, 2010 05:27 pm
Hello,
i have a question regarding if there is a loan program out there that will work for me.
i have two properties that are rentals in texas.
I'd like to purchase a primary residence owner occupied property in California.
I have $190k to put down.
i am open to purchase a property $450k to $600k price range.
Are there any stated income loans with 60% ltv or 80% ltv out there?
any portfolio lenders?
Thank you for your help
-shawn
i have a question regarding if there is a loan program out there that will work for me.
i have two properties that are rentals in texas.
I'd like to purchase a primary residence owner occupied property in California.
I have $190k to put down.
i am open to purchase a property $450k to $600k price range.
Are there any stated income loans with 60% ltv or 80% ltv out there?
any portfolio lenders?
Thank you for your help
-shawn
Hi kimsanee,
Stated income loans are hardly available these days as lenders have stopped giving such loans after the crisis in the real estate market. However, I would suggest you to contact your local lenders in order to find out whether or not they can help you with such a loan.
Thanks
Stated income loans are hardly available these days as lenders have stopped giving such loans after the crisis in the real estate market. However, I would suggest you to contact your local lenders in order to find out whether or not they can help you with such a loan.
Thanks
are their any VOE lenders that do not require a 4506T?
i have 780 credit score and just thought having 40% down payment can help?
i have 780 credit score and just thought having 40% down payment can help?
Hi Guest,
Though you've a good credit score and down payment, you won't be able to get a loan unless you have a good income. You will have to provide the lender with at least 2 years of work history.
Thanks
Though you've a good credit score and down payment, you won't be able to get a loan unless you have a good income. You will have to provide the lender with at least 2 years of work history.
Thanks
Every lender requires that you're self employed in you're seeking a stated income loan. Also, it depends on what state you're purchasing in. I know of lenders in NY, NJ, CT, and California.
i am not self employed but am looking to purchase in CA. Does that help at all?
Hi Guest,
If you're not self-employed and can provide the lender with employment history for the last 2 years and meet all other criteria, then you will be able to get a mortgage.
If you're not self-employed and can provide the lender with employment history for the last 2 years and meet all other criteria, then you will be able to get a mortgage.