Cant Document Your Income? Stated Income Loans Are For You

www.mortgageadvicepro.com - Without a doubt, the stated income loan is the easiest way to get money for or from your property. Also referred to as the no income verification loan, this type of a credit requires no pay stubs, tax returns, W2's or IRS forms to submit. This type of a loan is most applicable to W-2 wage earners, the self-employed individuals, the retired workforce, and those belong to the 1099 provision. readmore..
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Self Employed Refinancing Problems - What Can Business Owners Expect?

fixedrate.refinanceone.net - Refinancing for the self employed has gotten significantly easier over the last few years, due primarily to ready availability of stated income and no income verification loans. These are loans for which there is little to no documentation required from you to substantiate your income for the purposes of qualifying for a refinance. Over the past few quarters, especially during the current quarter, credit score requirements for these types of mortgages have increased substantially. So while a credit score of 620 was definitely considered "good" by mortgage companies as recently as December 2006, most limited documentation loans require a minimum of 720 credit scores today. Even though certain specialty lenders may still be able to refinance a borrower with stated income below a 720 FICO credit score today, you will not be able to borrow quite as much against the old homestead as you could have previously either. And when you refinance again in the future, or purchase your next home, you will probably be asked to document your income. So how can a self employed person or a business owner navigate a complex and changing lending environment? readmore..
Favorite Topics Include: Adjustable Rate Refinance,Fixed Rate Refinance & Fixed Rate Cash Flow Mortgages

Florida Mortgage - First Time Home Buyers Rejoice

www.florida-mortgage-blog.com - As the mortgage industry has changed in recent months and many of the more liberal mortgage programs have been canceled, borrowers have gone in search of home financing that will accommodate their credit and income profiles.readmore..
For great mortgage and credit tips visit the Florida Mortgage Blog.