Posted on: 19th Sep, 2009 12:39 pm
IS there any reliable lenders out there who can help my family with refinancing our home with stated income?
Hi Hodjinn,
Welcome to our forum.
You can catch expert lenders from our forum Check this out.
http://www.mortgagefit.com/lenders/dir/
Thanks & Regards.
gunz.ijjistaff
Welcome to our forum.
You can catch expert lenders from our forum Check this out.
http://www.mortgagefit.com/lenders/dir/
Thanks & Regards.
gunz.ijjistaff
Stated income
I think they are ancient now
Unless you can prove on paper that you have correct income to pay the loan, there is hard;ly any one who is doing the stated incoem loan
I think they are ancient now
Unless you can prove on paper that you have correct income to pay the loan, there is hard;ly any one who is doing the stated incoem loan
Hi Hodjinn!
Welcome to forums!
Stated income loans are hardly available these days. Lenders have stopped giving such loans after the real estate market crashed. You can take the help of a co-borrower while refinancing the property. The co-borrower should be able to furnish details about his income to the lender. Thus, it will be easier for you to get a refinance.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Stated income loans are hardly available these days. Lenders have stopped giving such loans after the real estate market crashed. You can take the help of a co-borrower while refinancing the property. The co-borrower should be able to furnish details about his income to the lender. Thus, it will be easier for you to get a refinance.
Feel free to ask if you've further queries.
Sussane
Hoddjinn, stated income mortgages do not exist anymore as national programs that can be done in all states.
There are local stated income programs. For example, I am familiar with those avaialble in NJ and CT and parts of PA and parts of NY.
Your question may better be answered if you note what state the property is located. Local people may be able to guide you better.
There are local stated income programs. For example, I am familiar with those avaialble in NJ and CT and parts of PA and parts of NY.
Your question may better be answered if you note what state the property is located. Local people may be able to guide you better.
Ho
I believe you and I spoke earlier. Your LTV is going to be your main issue. I am familiar with the lender John is referring to and even that one will not allow for an 86% LTV on a stated income loan.
I believe you and I spoke earlier. Your LTV is going to be your main issue. I am familiar with the lender John is referring to and even that one will not allow for an 86% LTV on a stated income loan.
Surprised to see that there are some laons which are still based on stated income, even after this situation