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Displaying items by tag: stated investor
Stated Income Lending
The Fastest Investment loans!
Investment property financing is a lucrative tool if you have good credit and know how to leverage the stock market. It does, however, generally require that you have the income to support a loan and if you’re self-employed, that can be a unique barrier to receiving rental property loans.
Stated income lenders are one way you can receive financing for an investment property. They are the best option for people who don’t have a traditional source of income but still want to take advantage of vacation rental property loans.
What Is a Stated Income Lender?
A stated income lender is a financial institution that offers investment property loans to investors who don’t have a traditional income statement, like a paycheck stub, W2, or 1099. This means they review your personal credit and look at alternative sources of income, like your bank statements.
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Stated Investor
What is a Residential Investor Stated Income Loan considered to be in 2022?
- No Personal Tax Return Income Requirements
- 2 Year BK Discharge OK (with rebuilt credit)
- Partner Buyouts - OK
- No W-2′s
YES…YES…YES!
Rental Home Financing unleashes a totally new lending platform and is now offering a loan program specifically tailored toward rental, income producing properties such as single family (1-4 units), condos, townhomes & multifamily apartments Nationwide. We lend on the verified lease income/cash flow and LTV of the rental properties not the personal income of the sponsor. We do require re-established credit and a preferred minimum 650 FICO score. Our stated investor requirements can be flexible as we are aggressively pricing each real estate transactions across the United States.
Obviously, stated income loans can be very useful for the investors and professional real estate operators looking to capitalize on today’s low rates and rising market valuations. Many loan programs such as Fannie Mae (FNMA), Freddie Mac (FMCC), many local and big banks are VERY tight with lending on residential rental income investment property and don’t be surprised if they ask you to sign away your first born too for added security.
With all of the new Dodd Frank regulations, there are many banks that have exited the market and many more investor and property owners who are not able to qualify for a traditional bank loans and have a true need to refinance existing debt or purchase a residential portfolio of real estate properties.
Realize your opportunity to take advantage of a currently fast paced residential rental real estate market, increasing property values, and competitive interest rates.
Rental Home Financing offers commercial stated income mortgage loans in most locations including:
| Central States | Northern States | Pacific States | Southern States | Western States |
|---|---|---|---|---|
| Illinois | Connecticut | Arizona | Alabama | Colorado |
| Indiana | Delaware | California | Arkansas | Idaho |
| Iowa | Maine | Nevada | Florida | Kansas |
| Kentucky | Maryland | Oregon | Georgia | Montana |
| Michigan | Massachusett | Utah | Louisiana | Nebraska |
| Minnesota | New Hampshire | Washington | Mississippi | New Mexico |
| Missouri | New Jersey | North Carolina | North Dakota | |
| Ohio | New York | South Carolina | Oklahoma | |
| Wisconsin | Pennsylvania | Tennessee | South Dakot | |
| Rhode Island | Virginia | Texas | ||
| Vermont | West Virginia | Wyoming |
Call us today – 1-888-375-7977 and speak with one of our qualified representatives.
or
APPLY ONLINE NOW!
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Stated Investor
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What is Required for Stated Investor Loans?
Stated Residential Investor – 1- 4 Family Requirements
Rental Home Financing now provides a stated program for residential rental properties that does not require borrower tax returns to conform to a global underwrite. We like to see a minimum FICO score of 650 and will base the underwriting off of the asset(s). Typical guidelines are as follows:
Financing for 1 to 4 units investment/rental units free standing or attached duplex, triplex and fourplex properties. “blanket mortgage” funding available for multifamily apartment properties.
- 30-year amortization
- Property identification (application)
- Credit report with middle score of 650
- Maximum LTV of 75%
- No rehabilitation or construction costs financed.
- Will finance completed properties as a take-out/permanent mortgage funding.
- Borrower may use “stated income” - No personal debt to income ratios. No global underwrite.
- Appraisal done by a National Appraiser Service with average cost in the $400 to $600 range/property.
- 1 – 2% lender origination points.
- Property tax and property insurance impounds are required.
- 3/30 - 5/30 - 7/30 - 10/30 / 30/30 Fixed Rates
- Prepayment penalty is 3% for 1-4 unit deals and 5% for commercial. Borrower can pay off 20% of equity in any 12 month rolling period without triggering prepayment penalty. Example: 3 year fixed loan, a borrower can pay off 60% of principal without triggering penalty.
- Prepayment penalty can be bought down options available.
- 2% max gift allowance of total loan amount.
- First time buyers can be allowed
BOTTOM LINE:
STATED INCOME LOANS = EASY APPROVAL & CLOSING
Rental Home Financing offers commercial stated income mortgage loans in most locations including:
| Central States | Northern States | Pacific States | Southern States | Western States |
|---|---|---|---|---|
| Illinois | Connecticut | Arizona | Alabama | Colorado |
| Indiana | Delaware | California | Arkansas | Idaho |
| Iowa | Maine | Nevada | Florida | Kansas |
| Kentucky | Maryland | Oregon | Georgia | Montana |
| Michigan | Massachusett | Utah | Louisiana | Nebraska |
| Minnesota | New Hampshire | Washington | Mississippi | New Mexico |
| Missouri | New Jersey | North Carolina | North Dakota | |
| Ohio | New York | South Carolina | Oklahoma | |
| Wisconsin | Pennsylvania | Tennessee | South Dakot | |
| Rhode Island | Virginia | Texas | ||
| Vermont | West Virginia | Wyoming |
Call us today – 1-888-375-7977 and speak with one of our qualified representatives.
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Stated Investor
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Stated Income Loans with No Tax Returns
Finally, a TRUE Stated Income Loan for Investment Properties.
Finally! - A true stated, absolutely no tax returns required for investor rental home properties in most states in Union. Loan Amounts ranging $100,000 to $2,250,000+.
Larger rental portfolio transactions, with similar guidelines and loans ranging from $500,000 - $30,000,000+ should review under our residential blanket mortgage program.
New for 2020...Now closing the first few rounds of financing with over 1.5 billion under management. We are proud to be providing the first wave by providing a much-needed product for investors with sensible underwriting. Rate range between 5 - 7%!
No limitation on the number of properties that can be financed for a single borrower. This is not a hard money loan. Common since underwriting is used to determine loan amount and rate.
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Stated Investor
Rental Home Financing
9465 Counselors Way
Suite #200,
Indianapolis, IN 46240
About Rental Home Financing:
Rental Home Financing, as the best mortgage lenders we originate rental home loan products and cash out refinance investment property loans as the best investment property refinance lenders. Commercial blanket loans are available with a commercial purpose to suit your needs.
Also, as DSCR loan specialists, we are currently authorized to make such loans in most all areas of the United States. Specific circumstances will determine whether we have the ability approve/close portfolio rental home loans in your state(s). When you are ready to get a mortgage for rental property, we are ready to serve you.