Zillow Advice: Refinance - stated income loan refinance http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ Zillow Advice | Zillow Real Estate &nbsp;[Self-promotional removed ... http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ &nbsp;<u>[Self-promotional removed by Zillow moderator, see our&nbsp;<a style="text-align: right;" href="http://www.zillow.com/howto/GoodNeighborPolicy.htm">Good Neighbor Policy</a>]</u>. Fri, 08 Aug 2014 00:04:00 GMT http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ 2014-08-08T00:04:00Z I provide stated income loans ... http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ I provide stated income loans in Texas and Washington State. Must be self employed for a minimum of 2 years. This loan is for Jumbo loans only. <u>[Self-promotional spam/hyperlink removed by Zillow moderator, see our <a href="http://www.zillow.com/howto/GoodNeighborPolicy.htm">Good Neighbor Policy</a>]</u>. Wed, 02 Jul 2014 17:50:00 GMT http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ 2014-07-02T17:50:00Z So much of the information ... http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ So much of the information here is mere speculation.&nbsp; The low documentation and stated income loans did not cause all the foreclosures.&nbsp;&nbsp; Most of the people that were/are in default actually qualified for their loans with verification of employment, assets, etc. &nbsp; I am a rel estate broker of 27 years, and I see short sales with people who have been on their jobs or years and took out loans they could not afford.&nbsp; Then there are those that just saw that their properties had lost so much value with the real estate collapse, that they consciously chose to stop making their payments to get out from under their big mortgages.&nbsp; None of this has to do with low documentation or stated income loans.<br/><br/>The people who often need the low documentation loans are business owners, who have income but their tax returns may not substantiate their income.&nbsp; These people often have high credit scores and money in the bank.&nbsp; In the past, I sold many houses to this type of buyer...some were millionaires, but could not qualify under normal circumstances.&nbsp; Today there are many who can afford to buy a home, but can't due to the new lending guidelines.&nbsp; If you checked, I am sure that the percentage of mortgages that went into default from these types of buyers were much lower than the mortgages where the buyers actually were able to verify their income.&nbsp; Before everyone gangs up and sends hate mail about these people not declaring all their income on the tax returns, I don't support people not reporting all their income, but it is what it is. Tue, 15 Apr 2014 15:54:00 GMT http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ 2014-04-15T15:54:00Z [promotion deleted by Zillow ... http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ <div><em>[promotion deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]</em><br/></div> Thu, 07 Nov 2013 02:01:00 GMT http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ 2013-11-07T02:01:00Z Yes, there is a excellent ... http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ Yes, there is a excellent Stated Loan program for SFR Non-owner occupied real estate. No tax returns, no bank statements. 70% LTV. Purchase or cash-out refi. Rates as low as 6.99% with a 30 year amortization. Minimum loan amount $100,000. Credit down to 650. Similar program for multi-family and commercial. If you would like more information, please send an email to <strong><em><u>[spam content removed by Zillow moderator due to violation of <a href="http://www.zillow.com/howto/GoodNeighborPolicy.htm">Good Neighbor Policy</a>]</u></em></strong>. Thanks Sun, 03 Nov 2013 04:05:00 GMT http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ 2013-11-03T04:05:00Z That's all we need more of ... http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ That's all we need more of - borrowers borrowing large sums of money without verifiable income &nbsp; to&nbsp; BET LONG ON RE (their home). I cannot believe any private organization could lend money under these terms. Organized crime did but then they had better collectors than tax payers have. Wed, 31 Jul 2013 01:32:00 GMT http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ 2013-07-31T01:32:00Z did you find any stated income ... http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ did you find any stated income lenders? Robert Fox Tue, 30 Jul 2013 23:32:00 GMT http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ 2013-07-30T23:32:00Z They are still around. Only ... http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ They are still around. Only niche lenders have them. A lot of loan officers/ and realtors will tell you they are gone but they are still available. Just because 90% of mortgage brokers don't have it does not mean it's gone entirely. &nbsp; <br/><br/>&nbsp;I think it would help if we clarified the details of the faulty loans which really caused the housing collapse. To do that, we have to talk specifically about those true no doc loans: (<em>no job, no income, no assets</em>, or <u>stated assets and stated income programs</u>).&nbsp; Yes, those loan programs were irresponsible and trouble just begging for a foreclosure. <br/><br/>Also, those sneaky sub-prime full doc ARMs that jumped 5% after the 1st 2 years, 100% Option ARMs from WAMU, 580 credit scores and zero down loans, programs with high debt ratios in the 60s had a large negative effect as well.&nbsp; <br/>Stated Income - Verified assets has been around since the early 90s at 30 to 40% down, 720+ scores, + 6 months of assets. Once lenders allowed 100% starting in the Bush years for just about anyone, then dropped credit requirements down to 580, it became the wild west.<br/><br/>Let's watch CHASE carefully because they bought WAMU..and executives who worked closely with Mozillo from Countrywide went to another large lender to head their operations. I forgot who it is. Sat, 06 Jul 2013 05:56:00 GMT http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ 2013-07-06T05:56:00Z Hello rnorman99,Stated income ... http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ Hello rnorman99,<br/><br/>Stated income loans are back and available to those who qualify. There is a minimum credit requirement of 700. A minimum loan requirement of $150,000. And the rates start at 4.99%. I would be more than happy to review the guidelines with you and see if you qualify. Tue, 11 Jun 2013 21:38:00 GMT http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ 2013-06-11T21:38:00Z I can refer to a lender that ... http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ I can refer to a lender that does stated loans, as long as the loan amount is above $300K. Click on my profile to connect. Tue, 11 Jun 2013 21:17:00 GMT http://www.zillow.com/advice-thread/stated-income-loan-refinance/496172/ 2013-06-11T21:17:00Z