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Hey there! any recommendation for a direct lender for stated income loans, self employed, portfolio based, high ltv?

by oilermark259 from Los Angeles, California. Jun 29th 2017 Reply


Sara Deere (Saraloveshomeloans)
#1 ranked lender in Kansas - 511 contributions

Troy Watson or Jon Irvine with Caliber Lending offers a portfolio based loan program.

Jun 29th 2017
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Howard Schwartz (hschwartz@myccmortgage.com)
#1391 ranked lender in California - 2 contributions

As a Direct Lender, we also have lending resources for loan programs designed for self-employed people using 12 months personal or business bank statements, showing deposits to determine monthly income. You can go as high as 90% LTV and no PMI. Contact me if you have questions.Howard SchwartzCross Country Mortgage619-992-2570

Jun 29th 2017
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,008 contributions

Hello.. I we have several investors which only require 12-24 months bank statements.. if the bank statements are personal statements, then 100% can be use for qualifying.. for business statements, 50% to 70%. Loan to value can be as high as 90% depending on loan amount.. (obviously, if you are looking for a $3M property, you need more than 10%),,, and under this program, No tax return's, no W2's, No 1099's, And NO 4506T required. If you would like, i'd be happy to look at your complete loan profile and advise you. Understand that a true "Stated Income" loan, regardless of how it's pitched does not exist.. in fact, it's illegal. President Obama signed this into law back in 2010.. Lenders are required to be sure the borrower can demonstrate their "Ability to Repay" (AR rules).. For conforming loans, this means tax returns, pay stubs, W2's etc.. but for portfolio lending, we can use anything we feel demonstrates your ability to repay.. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Jun 29th 2017
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