Profile picture for Timmy97060

Are Stated income mortgages gone?

Ive been self employed for over 10 years and would like to refinance so we could pay off are bills.  We have excellent credit, over 800 last time we checked.  Just can't show income necessary for mortgage.
  • December 22 2008 - Troutdale
  • 0Yes

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Answers (3)

Profile picture for fluke98
I heard from one bank that you need excellent credit score and LTV of 60 (40% down)
  • December 23 2008
  • 0Yes

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Profile picture for Rob Cochems
If everything is within a very tight box, you can still qualify for stated income loans.  Excellent credit, reserves and a low loan to value are key to qualifying.
  • December 22 2008
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They are not gone they just have higher rates and lower loan to value limits.
  • December 22 2008
  • 0Yes

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