Stated income loans - status?

Financing, Hard Money Lenders, Private Money
1

What are the status on stated income loans? Are they still available?

What if you have “ace” credit and a very high (six-figure) income, but are self employed / owner of your own company?

Thanks

2

YES STATED DEALS ARE STILL OUT THERE FOR SELF EMPLOYED AND NOT SELF EMPLOYED. THE ONLY THING IS THAT THE BANKS ARE BEING A LITTLE MORE COUTIOUS THEREFORE THE LOAN TO VALUES ARE NOT AS HIGH ANYMORE AND THE RATES ON STATED DEALS IN MANY CASES SAME AS ON JAMBO LOANS ABOUT 1 TO 1.5 HIGHER THEN REGULAR CONFORMING

3

What if you have “ace” credit and a very high (six-figure) income, but are self employed / owner of your own company?

I had no issue and just did my closing last week…

4

How long have you been self-employed for?

Regards,

Scott Miller