California True Stated Income Financing

/ / Published in Mortgage News, Stephan Prescher

California True Stated Income Financing

Valor Lending Group has your California True Stated Income Financing.

Valor Lending Group understands that your 2 previous year tax returns or 2 year s of bank statements don’t always show your real financial picture.  That is why we are devoted to assisting you with true stated income financing options from investment properties and NOW owner occupied properties for primary residences and second homes. In addition, we are not talking about a bank statement program, 1099 or W-2 only program. We are talking about a true stated income program!

Income Verification

Firstly, the income verification is as simple as it gets. We do not require a DTI calculation or statement of income of any kind.  All we need for this program is two years verification of income in addition to an accountants letter, if self employed. Furthermore, a wage earner, W-2 employee, requires a verification of employment. See details below.

  • No DTI Calculating required
  • No statement of income is required!
  • We require a 2 year employment verification
  • Self-employed borrowers only require an Accountant’s Letter
  • Wage-earner require a Verification of Employment with NO income request
  • No tax returns or W2s required.
  • This is not a bank statement Loan program.

Asset Verification

Secondly, we require minimal asset verification in addition to allowing gift funds. In addition to these borrower friendly attributes, Cash out funds can be used for reserves.

  • We only need 1 Month bank statement that covering at least 30 days.
  • 100% Gifts allowed for down payment, closing costs, reserves
  • Cash-out proceeds may be used towards reserves

Other Program Highlights

Finally, Take a look at the additional aspects of this amazing program built for you.

  • Loan amounts up to $3,000,000
  • Purchase or rate/term refinance up to 75% Loan to Value
  • Cash-out refinance up to 65% Loan to Value with unlimited cash-out funds allowed
  • Eligible properties are 1-4 Units, condos, coops, PUDs
  • Second homes are allowed
  • Minimum FICO score 680
  • We can finance with a 5/6m ARM, 7/6m ARM, 15 or 30 year fixed
  • Interest only option available on all loan terms except 15 year fixed
  • First-time homebuyers eligible (Max 70% LTV)

Bottom line

When it is all said and done, We have worked very hard to provide the best and most diverse financing options for all different types of borrowers across the country.  Let us put our hard work to work for you.  We are here to assist you in any way we can.  If you want clarity and transparency in your search for financing, Valor lending Group is your one stop shop.  Give me a call!

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