Today, lenders need to document everything about your home loan, including where your cash came from. So if you have your money stashed away under your mattress rather than in a Charles Schwab account, you might find it hard to get a loan. Sure, you might get the approval based on your credit, income, and […]
The Top Ways to Get a Stated Asset Loan
A stated asset loan, similar to a stated income loan, gives you a little flexibility in your qualification requirements if you do not have a straightforward salaried job that allows you to easily verify your documents. While many people assume this loan is no longer in existence, many lenders are bringing it back. You will […]
Are the Interest Rates on Stated Asset Loans Through the Roof?
It’s a common misconception to think that the interest rates on stated asset loans are unaffordable. This came about even before the housing crisis. Any lender that was willing to stick their neck out for a “risky” loan was known to charge high interest rates. Then the housing crisis occurred and the regulations were […]
Jumping Through Hoops to Secure Stated Asset Loans
Stated asset loans used to be a thing of the past. Once the housing crisis occurred, every lender clammed up and only offered straightforward, fully verified loans. This is understandable given the amount of foreclosures and defaults banks went through after providing loans to people that they really had no idea if they could afford […]