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Answers (6)
- Cliff Lewis, "Lewiscli"
- Contributions:424
Check with smaller local banks.. they tend to hold their own mortgages.. some will orignate stated income loans still but except to pay a higher rate of interest.
- Michael Achillas, "Michael Achillas"
- Contributions:77
There are portfolio banks out there that still originate Stated Loans.
- Call The Sisters, "Call The Sisters"
- Contributions:373
A hard money lender is who you would have to deal with. Expect to pay a higher interest rate in order to get a loan.
However, some of these lenders have short term programs, say 2 years. This would give you time to get things together to have income that you can prove.
Good Luck
Jayne
However, some of these lenders have short term programs, say 2 years. This would give you time to get things together to have income that you can prove.
Good Luck
Jayne
- Pasadenan
- Contributions:21458
It is extremely simple, even if your income is "illegally obtained"... You are legally required to fill out income tax forms, even if the source of income is not legal. You are not required to state that the income source is illegal on your income tax forms, only to give the category that it comes under.
And when you apply for a loan, you fill out an IRS Form 4506 for the loan officer to obtain a copy of your tax returns, and that is used for income verification.
And if you didn't file your tax returns as legally required, you can still file. And if you did file, but didn't report all your income, you can file a 1040X to amend your returns to show the correct income and pay the additional tax due.
And when you apply for a loan, you fill out an IRS Form 4506 for the loan officer to obtain a copy of your tax returns, and that is used for income verification.
And if you didn't file your tax returns as legally required, you can still file. And if you did file, but didn't report all your income, you can file a 1040X to amend your returns to show the correct income and pay the additional tax due.
- Jim Cavoto, "Jim Cavoto"
- Contributions:1
Simple answer you can't for any FHA, VA or Conventional loan. You can maybe qualify with private or "hard money"
Http://www.BestMortgagesColorado.com
Http://www.BestMortgagesColorado.com
- Lisa Fish, "lisa19529"
- Contributions:39
What do you do for a living that you can not show your income? You will need your last 2 years income to prove to the banks that you can repay the loan. Or you need to pay with cash.
Good Luck
Good Luck
If I can't show where my income comes from how can I get pre qualifed?
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