stated income construction loan

About Stated Income Loans. Examples of stated income loans we have completed are as follows: 680 FICO 50% LTV the lender close a loan of $1M with cash in hand in ca; 720 fico, 50% LTV 12 months liquid assets, $589K loan in NY; 50% LTV, 700 FICO, investment property, $210K loan amount in Tx. List goes on and on. Stated income loans are here and we are closing them.

Stated Income Commercial Loan Document Requirements While personal tax returns or business tax returns aren’t required, a lender will still need to verify the property’s ability to service the debt through gathering the following documents.

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While these investments have increased our core operating expenses, they have resulted in core revenue growth, strong customer acquisition, year-over-year growth in the loan portfolio, and strong.

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After construction, your stated income construction loan will modify into the product of your choice and is fully amortizing. For stated income construction loans, you will need perfect credit and a minimum 20% down payment.

Typically a lender offering a stated income construction loan will require a number of months of bank statements to establish cash flow matching the claimed income, as well as a substantial amount of cash reserves equivalent to 3 to 6 months of income or alternately 3 to 6 months reserves of the loan’s principal, interest and tax payments depending on the specific program.

We specialize in helping self employed people "builders" secure cost effective low doc construction home loans for personal or investment purposes. For Large Rehabs or Ground up Construction For our easy doc construction loans – we usually can go up to 80% loan to cost at a rate of 7.99% to 10.99% interest only.

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Our second quarter GAAP earnings were $0.49 per share, driven by increased commercial and business lending, a return to growth in commercial real estate and higher fee income. of these commitments.

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JUMBO LOANS – Offers 15, and 30 year fixed rate mortgages as well as competitive ARM products with stated and full documentation of income and assets. Great Northern Mortgage also offers SUPER JUMBO LOANS UP TO $3,000,000. This product is a perfect choice for New york home loans and New York mortgage refinance.