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Is anybody doing stated income loans anymore? Trying to Refi my home in Reno NV..

  • March 21 2013 - North Valleys
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Answers (4)

There are some Hard money lenders that may be willing to refinance your home based on stated income. However, I would anticipate any such lender to have a higher LTV requirement then if you were financing based on documented income.  They will also probably want to run your credit to ensure you have a good payment history for your debts.  

As for a traditional lender, I haven't seen any that are allowing Stated Income.  
  • April 15 2013
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Try www.StatedIncomeIsBack.com
  • March 21 2013
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I don't think stated loans are available anymore. You may qualify for the HARP 2 program which would let you refinance. I work with a great lender that can answer your questions better than I can. Contact me and I will send her phone numer and email address over to you. Thank You Suzie Marquardt
  • March 21 2013
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Unfortunately no, well no through traditional lending. Hard money lenders are doing some stated stuff, but the loan to value will need to be at 70% or lower to even be considered. If this is an option you would need to look for a local hard money lender to help. 

If you have plenty of stock you may be able to do what's called collateralized lending. This is an option because they do not verify income for this type of loan. 

Or if you have a Fannie Mae loan you may want to wait for HARP 3 to be in play since they are saying that the new update will require no income verification. This will not be out until later this year and the qualifications may change?

Good luck and take care, 
  • March 21 2013
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