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Forums » General Real Estate Investing » Does Stated Income still exist for LOW LTV, HIGH CREDIT borrowers?

Does Stated Income still exist for LOW LTV, HIGH CREDIT borrowers? Subscribe to Does Stated Income still exist for LOW LTV, HIGH CREDIT borrowers?

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Dan Inc

Real Estate Investor · Raleigh, North Carolina


Forum_avatar_avatar-dan_inc

Icon_minipost Jun 30 '09, 06:06 AM

Have you seen/used any? I need a 50% LTV loan and I have great credit and good reserves, just no verifiable income.

Should I keep looking?

Edited: 06/26/2010 at 08:48AM


Minna Reid

Real Estate Consultant · Tolland, Connecticut


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Icon_minipost Jul 03 '09, 09:55 AM

I can't even remember the last time I saw one of these. I'm sure they're out there somewhere if you have a HEFTY downpayment.

Edited: 06/26/2010 at 08:50AM


Eddie Ziv

Real Estate Investor · Studio City, California


Forum_avatar_avatar-ziv2liv

Icon_minipost Jul 03 '09, 10:01 AM

If you find one, let me know. I need one too... :wink:

Edited: 06/26/2010 at 08:50AM


Sean Williamson

Real Estate Investor · Redlands, California


Forum_avatar_avatar-housedoctor

Icon_minipost Jul 03 '09, 10:46 AM

not at wells fargo just turned down on a 62% refi with a 789 score. wanted to see income

Edited: 06/26/2010 at 08:50AM


Josh Green

Banker · Tampa Area, Florida


Forum_avatar_avatar-j20a00g

Icon_minipost Jul 03 '09, 11:12 AM

i don't think those products still exist. haven't seen one in a long time.

Edited: 06/26/2010 at 08:50AM


Scott M.

Real Estate Investor · Rochester Hills, Michigan


Forum_avatar_avatar-scottmac

Icon_minipost Jul 03 '09, 11:21 AM

Private or HM is really going to be your only option - even if you found another type of place I am sure the rates/points would make it unprofitable.

HM may also not really be an option as they are going to want to see your exit (normally a refi or sale and since your asking about financing I assume you would be doing a refi).

Private lenders - those who have $$ in CD's or self directed 401K's or just extra cash around is really going to be your best bet.

Or a private bank / credit union where you have a relationship - so if you don't have that established yet - it might be a good time to start - making nice with the money people is always a good thing to do.

Edited: 06/26/2010 at 08:50AM


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