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Rate with %40 down

For a $600,000 house, I'm ableto put down 40% and want to know the interest rate on the rest.I have $1 million in liquid assets, no debts, the excellent credit rating, am making substantial money in short term stock trading($77,000 in 2008, close to $600,000 in 2009.I'm in my own business where, due to deductions aI have zero income for a number of years.Social Security, pension and stock dividends come to around $30,000 a year. by JackE33 from Santa Barbara, California. Apr 28th 2010 Reply


Gregorio Denny (GVDenny)
#254 ranked lender in California - 380 contributions

Did you ever find a solution for this? If not, please call me. Gregorio Denny --WeFixRates.Com--

Jun 28th 2010
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Marty Borges (mborges)
#250 ranked lender in California - 20 contributions

So it looks like you have to go stated income to qualify for the loan. So there are other factors like credit, etc but I do have a pretty good stated income programs with rates in the low 6% range. If we can document income to qualify they you are looking at a 30 year fix around 4.875%. Call me to go over some lending options!

Apr 28th 2010
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Rob McAllister (Rob McAllister)
#8 ranked lender in Washington - 48 contributions

Tough one. There are some portfolio lenders out there doing 'stated' income loans still, but not many. Lenders currently use tax returns to determine income for self employment income and unearned income (dividends/interest) which means you wont have much to work from based on your message. I would suggest you first try to contact your bank where the 1 million is invested as they may be most willing to help you in their private banking dept. After that you will need to hunt for a portfolio lender who can still do stated income loans. Currently I am not brokering to any lenders who offer stated income products. I know you are likely shaking your head...why not with that much down and everything else...I am with you...I wonder why not also, but the lending environment doesnt always make sense these days.

Apr 28th 2010
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