FAQ for Self Employed Home Loans

Frequently asked questions on self-employment home loans or stated income loans.

Question: How good does my credit have to be?

Answer: You need a minimum credit score of 600 to be eligible for a stated income self-employment home loan. Past credit issues may be okay… READ MORE

Bank Statements are the New Stated Income Loan

Back in 2007 and 2008 during the subprime mortgage bust, stated income mortgages were a thing, but they tended to get people into a lot of trouble and made it possible to buy homes they really couldn’t afford. But, with a little bit of finesse, revising, and a lot of experience, we’ve now developed a new program called the bank statement home loan. READ MORE

Stated Income Loans are Available Again to Investors

Stated income home loans used to be widely available before the recession in 2008. And although we’re not back to the subprime mortgage bust, and hopefully never will be, these loans were extremely valuable and they’re making a huge comeback. READ MORE

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What to Know When Asking About Mortgage Forbearance

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What You Need to Know About an E-Closing

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As many things shift to online and electronic services during pandemic social distancing measures people buying and selling homes are getting used to a new way of conducting real estate transactions. One of those things is the way mortgage papers are signed.  ...

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What Mortgage Rate Can I Get Compared to the Average Rate?

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Mortgage rates are lower than they have been in several years making this a really good time to apply for a mortgage and take advantage of lower payments. One thing applicants should be aware of though is that the national averages you see on the news and read about...

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Locking in a Mortgage Rate as Buyer’s Get Competitive

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At this time borrowers have a chance to lock in mortgage rates at historically low rates. Lower inventory to purchase from and a competitive seller’s market can make finding the right home a bigger challenge.  This has some buyers wondering when they should lock in...

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Can Cash-Out Refinances Help Reduce Debt?

Can Cash-Out Refinances Help Reduce Debt?

If you have mounting debts that you are struggling to pay off and feel like you will never get beyond just paying the high interest, you may be looking for ways to help pay the debt down. One option some people look into is a cash-out refinance. When you opt for a...

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