Stated Income Loans
Stated income loans are ideal for real estate investors with hard to prove income, or who simply don’t want the hassle of digging up reams of paperwork. Use the income of the property you are purchasing to qualify, not your personal income. This can provide a streamlined borrowing experience, so you can close faster and sign more contracts with the confidence you can close. Whether you just need an expedited loan, lost your tax returns, or are a foreign national, this may be the solution for you.
Asset Based, No Ratio Loans
Many of the best investment property opportunities out there may not have a verifiable track record of proving income. Some income properties have been run as cash enterprises or owner-operators haven’t kept records. Others have been far under-performing their potential or could be worth far more when repositioned.
Then there are non-performing properties that may need major renovations to put them in rentable condition. No ratio loans mean neither the borrower nor the property has to qualify with income documentation. There are no DTI or DSCR limitations. Loans are based on asset value.
EZ Qualifying
- No tax returns
- No 4506s
- Sub 660 credit scores OK
- Past bankruptcy OK
- Past foreclosure OK
- LTVs up to 75%
Loan Purposes
These stated income and no ratio loans can be used for:
- Single family properties – (1-4 units)
- Multifamily properties
- Apartment buildings
- Mixed use properties
- Vacation rentals
- New acquisitions
- Cash out refinances
Summary:
Stated income loans and no ratio loans can be ideal for investors needing to close fast, who want little hassle, and who want to be confident when making offers. Easier qualifying may now make it possible for more investors to obtain the leverage they have been craving.