We are nearing the end of 2019 and before 2020 starts, you might want to consider jumping on the stated income loans 2019 bandwagon. This is a great opportunity for those that are self-employed or may not be able to prove all of their income to get a home loan. If...
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...
Before the housing crash in 2008, a popular alternative to the traditional mortgage was called the Ninja mortgage which stands for “no income, job, or asset verification. This is also referred to as a no doc mortgage. Now while this might seem a little crazy,...
The stated income home loans or self-employment home loans are a great option for anyone that is self-employed but I’ve been asked a lot frequently if self-employed individuals can refinance under this type of loan. Sometimes qualifying for a mortgage can be...
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...
For self-employed individuals, a bank statement home loan may be the best thing since sliced bread. Instead of using W-2’s and tax returns, which most loans rely on, a bank statement loan uses the money you deposit into your bank account each month as proof of...