Posted on: 29th Oct, 2011 09:24 am
Found one lender NY, but we are running into a technicality.
Any other stated income loans available in NY. Putting down 35%, 720 is our lowest score. Have enough assets. Some w2 income and other applicant self employed. Loan under 500K.
Any help would be appreciated. Thank you!
Any other stated income loans available in NY. Putting down 35%, 720 is our lowest score. Have enough assets. Some w2 income and other applicant self employed. Loan under 500K.
Any help would be appreciated. Thank you!
There is probabaly one lender and that lender lends in 13 counties, not in all of New York
What technicality did you run into?
What technicality did you run into?
The stated income lender uses W2 income doumented by the W@ earner and uses stated income for the self employed.
The two are mixed on the application. The rate is the stated income rate, but, you use the W2 income also to qualify
The two are mixed on the application. The rate is the stated income rate, but, you use the W2 income also to qualify
There are a total of 3 lenders actually funding Stated Income Loans in NY. All thee(3) having different criteria for closing the loan. All lenders will require a down payment of 25%+ at minimum, which you have. I hope you were able to close this loan.
