Posted on: 29th Jul, 2008 04:16 pm
purchase money stated income mortgage in NY
I am self employed and need stated income mortgage using an accountants letter for purchase Single Family Primary Residence, 30% down, 790 FICO. Who does this loan in NY?
I am self employed and need stated income mortgage using an accountants letter for purchase Single Family Primary Residence, 30% down, 790 FICO. Who does this loan in NY?
Hi Renato,
Are you looking for a state income mortgage? This type of loan program is available only in certain parts of the country. You need to have very good credit scores and 25-30% of down payment to avail state income loans. What are your credit scores? How much down payment are you ready to make? By the way, I have sent a private message to James about your query. I hope he can help you with the loan program you are looking for.
Are you looking for a state income mortgage? This type of loan program is available only in certain parts of the country. You need to have very good credit scores and 25-30% of down payment to avail state income loans. What are your credit scores? How much down payment are you ready to make? By the way, I have sent a private message to James about your query. I hope he can help you with the loan program you are looking for.
We can do stated income loans.
Depending on the property and borrower details. We specialize in private money and private banking. Stated income up to 60% LTV, $3M to 50% LTV. Hard money rates from 9.5%/3pts. Super Jumbo loan amounts up to $6M considered. Commercial and residential, land, construction, non-warrantable condos and condo-tels (condo hotels), nationwide considered. Call or e-mail for more information.
email address removed per forum guidelines
Depending on the property and borrower details. We specialize in private money and private banking. Stated income up to 60% LTV, $3M to 50% LTV. Hard money rates from 9.5%/3pts. Super Jumbo loan amounts up to $6M considered. Commercial and residential, land, construction, non-warrantable condos and condo-tels (condo hotels), nationwide considered. Call or e-mail for more information.
email address removed per forum guidelines
It doesn't matter if you had the best credit in town, if the inverstment doesn't fit, the loan doesn't fly. If there is a TRUE equity lender out there,
then your lending critera should be as follows: Non-seasoning equity only loans. You can be sure, giving the point that hard money lender charges,
fico scores and and financial shouldn't never be a hard money lender critera. In most cases the hard money lenders will portfolio there loans with future hedge equity.
then your lending critera should be as follows: Non-seasoning equity only loans. You can be sure, giving the point that hard money lender charges,
fico scores and and financial shouldn't never be a hard money lender critera. In most cases the hard money lenders will portfolio there loans with future hedge equity.
I have 3 houses paid for (primary and 2 duplexes) and 4 unrecorded private loans on 4 other houses, no debt, and a large stock and bond portfolio. My employer and I parted ways last year, and I was looking to buy another rental property, while taking advantage of these low rates. The mtg brokers I have talked to have said " no loan for me" because I have no pay stub verifying income. I have assets and cash, and a proven tarck record in the investment business. How do I get a loan?
ps I have large captial expenditures and depreciation, so it "looks" like I don't make much on my tax return. Help?! lol thanks
ps I have large captial expenditures and depreciation, so it "looks" like I don't make much on my tax return. Help?! lol thanks
Welcome Jimmy,
Your lender is absolutely correct. Unless you're able to show any kind of income, the lender may not approve you for a loan.
Your lender is absolutely correct. Unless you're able to show any kind of income, the lender may not approve you for a loan.
You may be able to do a hard money loan.
Thta is usually large, maybe 50% down payment and higher than normal interest rates
You can not get any sort of normal loan in these days for an investor property with no verifiable income. It does not matter what assets you have nor past history of paying mortgages.
Thta is usually large, maybe 50% down payment and higher than normal interest rates
You can not get any sort of normal loan in these days for an investor property with no verifiable income. It does not matter what assets you have nor past history of paying mortgages.
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