stated income lender info

stated income lender info

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A stated income loan is a mortgage where the lender does not verify the borrower’s income by looking at their pay stubs, W-2 (employee income) forms, income tax returns, or other records. Instead, borrowers are simply asked to state their income , and taken at their word.

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Stated Income Loans: Available within Business Lending "If I wanted to go refinance my house or buy a new house to live in and get a stated income loan, I couldn’t do it," says Brian O’Shaughnessy, CEO of Athas Capital Group, based in Calabasas, Calif.

A mortgage, or mortgage loan, is a legal agreement where a lender offers money to a borrower to purchase real estate in exchange for interest. The loan is secured by the real estate, so if the borrower fails to repay (defaults) the lender can foreclose, selling the property to pay off the loan. related topics:

Welcome and thank you for joining Oaktree Strategic Income Corporation’s Fiscal First. by rotating out of lower yielding broadly syndicated loans priced lower than LIBOR plus 4%. As we have stated.

Stated income loans are ones in which the borrower discloses information but it is not verified by the stated loan lender. This allows the stated loan lender to process the loan much faster than a conventional loan.

Stated Income Loans are a great options for borrowers looking to purchase or refinance a residential investment property, but are also looking to avoid income documentation or verification.

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Our discussion today will cover the company’s performance during the third quarter of 2018 and information contained. to reduce our exposure to these types of loans, this quarter’s provision.

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The loans are more risky and require a higher interest rate for the borrower and a higher yield to the lender, he says. It’s likely that stated income loans will be offered through high yield lenders and not from the big banks, Waller says. They can also require high credit scores and bigger down payments.

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