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Answers (5)
Best Answer
- Clay Branch, "Georgia Loans"
- Contributions:7836
There are a couple of places you can still get an NIV loan with verified assets. Problem is they are regional so you will have to find a lender in your area. Like he said, if Stated they will pull the 4506 and compare incomes so you need an NIV or No Ratio where the income is left blank.
This is from a bank's rate sheet in the NE with a very limited lending area:
"No Income, Verified Asset" Programs also available.
Maybe 1 or the CA Lenders/Brokers know of an NIV still available in CA.
- Doug Hutchins, "90 day rate locks"
- Contributions:721
The benefits you have being in a cash business (i.e.avoiding taxes) I'm sure outweigh the costs you have of paying a higher mortgage rate. Kinda hard to feel sorry for those that don't pay their fair share but want a 4.5% rate.
- Justin McHood, "justinmchood"
- Contributions:13
You had me at "stated income".
The problem with stated income loans is that most (if not all) lenders are pulling tax returns now, so stated incomes loans don't currently exist.
Sorry to put it this way, but you just need to "hold tight" until something changes. There isn't currently a loan program that will help you.
Geez.
I hate being the bearer of bad news.
The problem with stated income loans is that most (if not all) lenders are pulling tax returns now, so stated incomes loans don't currently exist.
Sorry to put it this way, but you just need to "hold tight" until something changes. There isn't currently a loan program that will help you.
Geez.
I hate being the bearer of bad news.
- Barry Dalton, "Barry Dalton"
- Contributions:492
I wonder if $10k per year in interest is more than the taxes would be on the income reported to qualify?
- Andrew Adams, "203K Specialist"
- Contributions:9349
Stated income refi....Unlikely to happen....IF it does happen the rates will be substantially higher than what you would pay for a fully documented loan.
Need stated income refi
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