Updated almost 8 years ago on .
STATED INCOME ALT vs Stated Income of old
STATED INCOME ALT is now available for the purchase of real estate.
Post Dodd Frank Act and all the new Federal lending laws, proving ATR (Ability To Repay) is the name of the game these days.
Stated Income ALT loan programs for Florida are filling the void. These programs are much more lenient and allow Alternative income streams to qualify such as:
- Liquid Asset calculations for income
- Business Bank Deposits
- Personal Bank Deposits
- Expected Income
- New Employment income
- 1099 Income
- Commissions & Bonuses
- Account Receivables
- Note Receivables
- Contracts for future income
- New Rental Income
- Expected Rental Income from property planning to rent
- Considerably different calculations on Tax returns