Stated Income loans are currently not available.

Stated Income

The purpose of Stated Income programs is to include all funds available for debt repayment including those that do not necessarily show up on traditional or acceptable income documentation.

A Stated Income loan is NOT designed to allow for the false declaration of inflated monthly gross income merely to qualify for a loan.

$750,000 MAXIMUM LOAN AMOUNT OFFERED

Programs Available

• 30 year Fixed, 20 year Fixed
• 10 year Fixed (20 adjustable on 30 year term,)
• 5 year Fixed (25 adjustable on 30 year term,)

Escrow Waiver for 0.25 point/fee if Owner-occupied, to a Max of 80 LTV.

• STATED INCOME, VERIFIED ASSETS (SIVA) All Loans.
• IRS Form 4506 Required to be signed authorizing potential future anti-fraud audit.
• (So-called "Liar's Loans" will not be tolerated. Income stated by applicant must be reasonable to business.)
• Reserves must be Documented & Verified,
• Reserves must Be liquid personal funds, not business,
• If reserves are in a joint account, both parties must be on note.
• Maximum of four financed properties.
• U.S. citizens ONLY.

Rate/Term Refinance - Borrower must have owned & occupied for at least two years (unless new construction).

Cash out Refinance - Maximum $50,000 cash out or 10% of loan amount (whichever is less.)

If paying off a HELOC, if line was drawn on in last 12 months, it will be considered cashout.

STRICTLY OFFERED for Fee Simple, Single Family, Owner Occupied & Second Homes.

Details

• Cash Out on Second Home Not Allowed.
• INTEREST ONLY Not Allowed.
• Investor Loans Not Allowed.
• No attached PUDs/Townhomes or Condos.
• No resident aliens or foreign nationals.
• NOT AVAILABLE in FL, IL, MD, MI, MN.

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