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 […]
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 […]
Stated Income Mortgages – Are They Still Available?
Stated Income Mortgages – Are They Still Available? Stated income mortgages quickly became a thing of the past after the Housing Crisis of 2008. Lenders were no longer accepting the “smoke and mirrors” type lending where borrowers said they made a certain amount of money, when in reality they did not and could not afford […]