If you are self employed
and want to purchase or refinance I have a loan
program for you.
NO Documentation
Loan
No Documentation Loans
require no employment, income, or assets to be stated on
your application. No information is verified beyond your
credit profile and value of the property. Our lenders
allow as little as a 5% down payment. If you have past
credit issues you will need a slightly higher down
payment but I can get the loan done. Rates are 1 to 1.5%
higher than conventional financing and are available on
both fixed rate and adjustable mortgages.
No Doc Loans are available
as:
15 or 30 year fixed rate
require only 10% equity and the rate will not
change.
1, 3, or 5 year adjustable
rate loans have lower rates but requires 25% equity in
the property
Stated Income
Loan
Stated income mortgages are
the least expensive option. We verify employment and
assets, income is stated on the application but not
verified. Your stated income must be reasonable for your
occupation and assets. Rates are usually only .500%
above conventional rates.
Some general guidelines for a
Stated Income Mortgage Loan.
- Minimum middle credit
score is 620
- 5 credit accounts are
required. 3 may be from alternative sources-utility,
auto insurance, etc.
- Bankruptcy and
foreclosures must be discharged for 3 years with
reestablished credit
- Two years employment with
same employer
- Two months PITI reserves
are required with an LTV <=80%. 6 months reserves
are required otherwise.
- 5% minimum down payment is
required from your own funds. No gifts.
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Contact
: Mortgage
Calculators 
