Posted on: 19th Apr, 2010 09:02 am
I am purchasing a home for $400,000. I can pay cash, but would rather have a small 1st mortgage of $100,000. Credit score is in the $800's.
Does anyone know of a lender who does stated income loans?
Does anyone know of a lender who does stated income loans?
Hi Paul,
You have excellent credit scores. The fact that you will be putting down a good amount of money towards the purchase will also work in your favor when you apply for a new mortgage. However, not many lenders do stated income loans in this market and only some lenders in certain areas still offer such loans . You can contact some of the local lenders and go for a no-obligation free mortgage consultation with the lenders in this community to find out if any of them can help you with the loan.
You have excellent credit scores. The fact that you will be putting down a good amount of money towards the purchase will also work in your favor when you apply for a new mortgage. However, not many lenders do stated income loans in this market and only some lenders in certain areas still offer such loans . You can contact some of the local lenders and go for a no-obligation free mortgage consultation with the lenders in this community to find out if any of them can help you with the loan.