Don’t be confused by conventional loans that usually have similar guidelines and lenders with similar programs, stated asset lenders are all different and the guidelines vary depending on the lender. When it comes down to finding the perfect stated asset lender there are many options to choose from. You can choose from a small independent mortgage broker to one of the largest banks in the world. When shopping for a lender to help you get started with a stated asset loan it’s important to look at the lender’s track record for funding stated asset loans. It’s also important that your lender has a good strong knowledge of stated asset loans.
Stated Asset Lenders: Who Is The Biggest?
In today’s market there are many bigger banks that no longer offer stated asset loans. They instead use a nickname for the program and only allow them available to a handful of people, such as a doctor loan. It’s basically the same thing as a stated asset loan, because a doctor could walk in and state their assets and be approved for the loan. Majority of the bigger lenders will create a mortgage loan based off bits and pieces of a stated asset loan.
Is Bigger Better?
Not necessarily, when it comes to stated asset lenders, bigger isn’t always better. The main idea to keep in mind here is you want your stated asset loan done, but done right. When it comes to size, stated asset lenders are usually smaller lenders anyways.
Stated Asset Lenders: Shopping Around
The most important part of using a stated asset loan is finding the right lender. It’s extremely important to shop around for a lender and compare their rates and programs to find the best option for you. Stated asset lenders will continue to grow- making it easier and easier for borrowers to use a stated asset loan. So be sure to shop around the find the best deal. If you don’t you could end up paying thousands and losing money.
To find the best deal when looking into a stated asset loan will require quite a bit of shopping around. Not all lenders offer stated asset loans and the ones who do usually only offer select products. You may find multiple lenders who offer the same programs, but not always the right program for your situation. Finding the right lender for you and your situation can’t get much easier than starting right here. It’s fast and easy, just submit your information and we do all the hard work for you and find you the best lender that matches your situation. Did we mention it’s free?