Posted on: 12th Aug, 2010 02:59 pm
Is it possible to get stated income/ verified assets loan in CA? Credit score 730. Looking for $200k loan and I have $50k deposit.
Welcome planetgogo,
It is quite difficult to get stated income loans these days. Most lenders have stopped giving such loans after the real estate crisis. You can contact the local lenders and check out whether or not they are ready to help you with a stated income loan as you're ready to give $50k as down payment.
It is quite difficult to get stated income loans these days. Most lenders have stopped giving such loans after the real estate crisis. You can contact the local lenders and check out whether or not they are ready to help you with a stated income loan as you're ready to give $50k as down payment.
In 2008 and 2009, the minimum loan amount, to my knowledge, for a stated income loan in California was upwards of $650000. Someone seeking a loan for less than that is restricted to documenting income, assets, etc. I don't think you'll have any luck whatsoever in finding anyone to lend under the terms you are seeking.
