Alerts are a great way for you to stay up-to-date on things you care about. We will email you a list of the new items that match your criteria at a time of your choosing.
Lender rating
Since January 2009
Lender rating
Some lender still have their conforming stated income stated asset programs up to 90% LTV with no hit to the rate. It would probably take a credit score of 700 or above. You could still get 90% with a 660 and stated income and verified assets. Also, you could get 90% with a 680 and stated income and stated assets. The rates for these last 2 scenarios would obviously be significantly higher than conforming rates.
Lender rating
Since January 2009
Try Parkside Lending.
Lender rating
Was the questions, any still doing stated loans? Yes citi bank, and Wachovia. Note guidelines are different. under Citi bank main borrower must be self employed at least 2 years, Wachovia will take wage earner however the zipe code of subject prorepty is the importmant factor. Please note that these lenders are looking for at least a credit score of 660 or higher and guidelies may change with out notice. Hope this helped.
Lender rating
Since January 2009
Taylor Bean's stated is going away as of Wednesday......
CW
Pretty much all mortgage insurers have stopped doing stated income loans all together in declining markets, and thus, everywhere. So, aside from the portfolio lenders with LPMI that is internal, not contracted to MGIC or such stated is gone over 80% LTV. Despite the opinions of some, subprime is still alive (if you want to call it that) and will happily do up to 85% stated in rare cases. The hit varies widely on business channel and papergrade, could be .25, could be 5 points, could stack on other hits, who knows. Underwriters are not only using the conservative side of salary.com but also 3rd party verifications. Not to mention microscope on your credit, higher scores and more, longer tradelines. Basically your borrower needs to poop roses.
Featured Rates are based on state rates for 5/1 ARM loans and are valid for the date shown, but they may change without notice. They are for consumers with a credit rating of 720 or higher and a 20% or higher down payment. Rate, terms, pre-paid finance charges, and APR may vary based on factors such as creditworthiness of the applicant(s), self employment status of the applicant(s), condo or townhouse structure, loan amount, and geographic location of the property.
If a lender does not offer a national rate, a state rate may be shown next to the lender's name. For example, 'Bank name (CA)'.
... and, it's free and anonymous
Zillow® Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy
stated income ?
Spec_T
Real Estate Agent
Contributions: 2849
View full profile
Anyone have lenders still writing stated ? if so ... what guidlines are they looking for if you dont mind ?
If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.