Anyone know of a lender who will do a 125 LTV equity loan using stated income?
90727
Are you crazy. Not on stated income.
1135176
it amazes me how people that are NOT in the mortgage lending industry offer advice to people about the most important financial issue in their lives.  I am the General Manager of a large mortgage company in California and I can tell you with ABSOLUTE KNOWLEDGE AND EXPERIENCE that you are a prime candidate for STATED loan with a 650 credit score.  With a 650 score you will have NO problem as long as a few other issues are met....\n\n1)  You've got proof of steady employment for at least 2 previous years.\n2)  No serious credit collections or charge offs in the last 12 months\n3)  You don't mind paying a little higher interest rate due to the high LTV (Loan to Value %)\n\nTalk to a mortgage BROKER that specializes in NON-CONFORMING loans.  Many lenders will be happy to do this loan for you.  In some situations, you may be required to put 5% down, but there ARE lenders that can do a 100% STATED loan.  You MAY need to have 3-6 months of mortgage payments in RESERVE with liquid assets (cash in the bank, 401K, IRA, stocks, bonds, etc.), but there are even lenders that don't require that (Countrywide's, Full Spectrum division as an example) but you'll need to see a mortgage BROKER instead of the LENDER.\n\nGood LUCK!!!  and don't disuaded by these people that have NO knowledge of the industry.
48188
yes, check out the financing tab of our website...www.265body.com...i have all of the companies listed on there..;)
33824
Should have posted this in the Finance area. LOL\n- I found this. Check this out: http://www.reversemortgage.org/
709385
Hello.\nI am a Private Lender, I think i can help You Get The Loan You Required,That will be If You are still interested.My Interest rate is considerate.\nContact me Via email,edward_loanfirm@yahoo.com\n\n  Mr Edward Pellicane.
1121572
I'm a licensed mortgage Banker in NY & NJ. I can do 100% financing on investment properties up to $1 Million. If the property is located in NY or NJ, feel free to email me with questions. bianca@slkmortgage.com\n\nGood Luck!
151967
at a bank or mortgage lender
443737
Remax.com\n\nThey do francaises and they arrange the financing
280634
have you tried the LAW loan?\nhttp://www.salliemae.com/apply/borrowing/lawloans.html
141210
I would try RegionalMortgages.com\nWhy are you going NoDoc?  Self-Employed?\nIf not try to avoid NoDoc as the rates are typically higher than traditional mortgages.
1001529
There are many lenders that offer this. I can have an approval in 2 days. What state are you in? \nhttp://www.lendermark.com
277928
we offer that loan.  what kind of info woud you like.  \n\nwww.xclusivefinancial.com
1025127
A home equity loan or home equity line of credit is really your best bet.  Interest payments can usually be used as a tax write-off.  Check with RegionalMortgages.com
784923
Try community banks. Any other type of financial institution would be willing to work with you esp. with the individual guarantees. Sounds like you should have no problem so long as the cash flow from rental income is sound.
862791
try moneysupermarket .com or uswitch.com or moneysavingexpert.com any of these will allow you to compare mortgages or loans
1172195
Hello - \n\nThe good news is that their are numerous lenders that will allow you to utilize your good credit scores and still include your husbands monthly income.\n\nIn regards to Stated loans, there are two major types. What we call a SIVA (Stated Income Verified Assets) or a SISA (Stated Income Stated Assets) The lower monthly payment would be on a SIVA loan. On this loan you would have bank statements to verify your monthly income.\n\nMonthly payments could be as low as $600 per month. However, you also will want to look at how long you wish to borrow the money, and at what point do you want to reach the freedom point of owning your home.\n\nThere are a few important questions you need to make sure you ask your mortgage company.\n\nQuestion 1: Is your mortgage portable? In some cases, your mortgage may be 'portable', which means you can carry it with you when you buy your next home and avoid having to obtain a new mortgage. NOTE - These types of loans are not available in all cases.\n\nQuestion 2: Is your mortgage assumable? The term 'assumable mortgage' means that when you sell your house to a buyer sometime down the road, that the buyer can 'assume' your mortgage, instead of having to apply and receive their own mortgage. This is very attractive to some buyers and may help you during negotiations.\n\nQuestion 3: Is there any 'pre-payment penalty' if I decide to sell or refinance my home before I have paid off my existing loan? This is a very important question, since you might be forced to a penalty if you pay off certain types of loans before they are due.\n\nDid you know that with certain loan types, you can shave off years of payments and thousands of dollars in interest? It all depends on what payment schedule you pick. Using additional payments and/or 'bi-weekly' payment programs can save you enormous amounts of money and time. For example, with a bi-weekly payment plan, you could save up to $46,701.00 on a $125,000 loan. Or if you have money trapped in an IRA or 401K plan, we could show you how to get that money out TAX FREE, by utilizing a different strategy.\n\nIn some areas, a seller may not even deal with you until they can verify that you can actually afford to purchase their home. To them, a pre-appon lineroved buyer is essential. But even in cases where pre-approval is not mandatory, it is still wise to consult with a reputable mortgage company and receive a pre-approval. Especially considering that the pre-approval process is fast and easy.not to mention AT NO-COST TO YOU!\n\nOnce you are pre-approved, you can embark upon your home buying journey with confidence, knowing that once you find your dream home, obtaining the money to buy it will be the easy part!\n\nMy company provides this as a free service at :\n\nwww.victorylenders.net \n\n-How to get the best rate and payment on your next loan\n-How to get started with a bi-weekly payment program\n-How to pick a payment amount that fits your needs and lifestyle\n\nPlease let me know if you have any further questions.
527981
Of course you can, provided you can demonstrate your ability to repay the loan, i.e., make the loan payments above your existing obligations. You may be able to get up to the maximum debt-to-equity ratio allowed by the lender and also based on the updated appraisal value of your real property.\n\nIt would be easier to get loan approval if you had it already rented on a long-term lease, which will be the source of your repayment for the Equity Loan.\n\nAnother factor considered by the lender would be the purpose of the loan proceeds, depending on their prevailing policies. Be sure to deal with the more reputable commercial or mortgage banks and avoid going to "hard money" lenders.\n\nGood luck!