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This partially “Stated Income” loan goes to a max LTV of 80%.  Low Doc loans program comes in a 30 Year Fixed or a 15 Year Fixed Option.

WASHINGTON: Mortgage applicants who can’t provide tax returns or pay stubs to show their income are getting stated income loans again as companies chase customers they can no longer afford to ignore.

Lenders say these aren’t the same products as the so-called “liar loans” that were pervasive before the housing bust.

Instead, the loans are going to borrowers such as small business owners or investors buying properties they intend to rent who can demonstrate an ability to repay, verifiable through bank or brokerage statements.

Lenders and Mortgage Brokers said they look for enough assets to pay six to 12 months of payments, while also demanding high down payments to reduce the chance of default.

SOME OF THE PROGRAM HIGHLIGHTS ARE

1. Up to 80% LTV on Purchase Single Family Homes
2. Up to 1,500,000 loan amounts
3. 700 FICO required
4. Borrower must be self-employed for at least one year

CONTACT US TO CHECK ALL THE CURRENT GUIDELINES

Reserves are required and there is a waiting period from any foreclosures or short sales.

Check out other Portfolio STATED Options that we offer here.

Available for:

Purchases
Rate and Term Refinance
Primary and Secondary Residence
Investment Property

Terms:

– 30 year fixed – Fully Amortizing
– 15 year fixed – Fully Amortizing

Eligible Borrowers:

– U.S. Citizens
– Permanent Resident Aliens/Non-Permanent Resident Aliens

Appraisals:

– Full Interior/Exterior form 1004 is required on all transactions
– Transferred, assigned or re used appraisals are not permitted

Eligible Property Types:

– Single Family
– PUDS
– Condos
– Rural Properties

Maximum Loan Amount:

– Alt-Option Income Program: $1,500,000
– Alt-Option Asset Inclusion Program: $1,500,000
– Alt-Option Access Program: $850,000
– Alt-Option Ratio Program: $1,500,000