Home Loan Mortgage

What Is Stated Income Mortgage Loans

The coming Public Service Loan Forgiveness bonanza – The federal government is making more data available about the performance of the Public Service Loan Forgiveness (PSLF. from the adjusted gross income stated on his federal tax return. Adjusted.

Stated income loan – Wikipedia – A stated income loan is a mortgage where the lender does not verify the borrower’s income by looking at their pay stubs, W-2 (employee income) forms, income tax returns, or other records. Instead, borrowers are simply asked to state their income, and taken at their word. These loans are sometimes called liar loans or liar’s loans.

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Stated income loans make comeback as mortgage lenders seek clients – (Reuters) – Mortgage applicants who can’t provide tax returns or pay stubs to show their income are getting stated income loans again as companies such as Unity West Lending and Westport Mortgage.

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Mortgage rates jump to highest level since February 2011 – Within this expanded credit market (which is outside of the conventional Fannie and Freddie box) is the re-emerging stated-income world. Easier standards and easier qualifying await self-employed.

Stated Income Loans California – Mortgage Broker, Company – Stated Income Loans California What Are stated income loans? This is a type of loan where the borrower is not required to provide W-2 forms or similar records in order to verify their income. The borrower simply states their income. Also known as no income documentation (or no doc) loans, stated income loans are available in most areas of California.

A stated income-stated asset mortgage (sisa) loan application allows the borrower to declare their income without verification by the lender. These loans were designed to ease the application.

A SIVA loan, or stated income/verified asset loan, allows you to state your monthly gross income on the loan application and requires you to verify your assets by furnishing bank statements or a similar asset document. By state, I mean just inputting a gross monthly income figure on the loan application.

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Stated income loan financial definition of Stated income loan – A loan made to a person who has not been truthful about some aspect of the loan application. For example, if the borrower overstates his/her income, he/she is said to take out a liar’s loan.In most jurisdictions, it is a crime to make false statements on a loan application.