Checking Out True Stated Income Loans
Are you interested in checking out true stated income loan programs?
Valor Lending Group has got you covered!
What is a True Stated Income Loan?
The new age 2023 “True Stated Income” loan is different from the early 2000s. In the past, a borrower could just state their income with no verification process of any kind, using lower credit scores, higher LTV’s. In addition the previous loans were option ARMs with balloon payments on a short term making them much higher risk loans.
The True Stated loans available for borrowers today require higher credit scores, lower LTV’s and proof of asset reserves, and are now 30 year fixed programs.
True Stated loans do not require your tax returns, the lender uses an alternative way of verifying your 6-12 month asset reserves using 1 month bank statement, that’s it. You can use either your personal and/or business bank statement.
TRUE Stated Income Loan Program Highlights:
- Owner Occupied and 2nd Home Only
- 1 month Bank Statement
- Up to 80% LTV on Purchases & R/T Refinances (700+ FICO for 20% Down)
- Up to 70% Cash-Out
- Maximum Loan Amount $3M
- No Tax Returns
- No Employment
- No Income
- Credit worthiness is based on LTV, credit score and current liquidity
VALOR LENDING GROUP OFFERS EVERY MORTGAGE LOAN IN THE BOOK!
We look forward to serving you!
Recap of our Loan Products
- Hard Money Loans (20% down / minimal documentation) Typically Fund in 7-10 days.
- Stated Income Loans (Great for business owners and self employed ) No tax returns!
- 100% financing is available (we can cross collateralize other properties if there is enough equity)
- Valor VA Home Loan 100% financing up to $1.5MM
- Rental Property Loan – No tax returns or DTI calculation! Based on subject property cash flow – No DSCR Coverage needed!
- Flipper & Rehab Loans (Flip a property with one of our many options)
- 2nd Position Loans up to $5mm
- Raw Land & Lot Loans
- Ground up Construction for spec homes, custom homes and commercial ground up.
- Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)
- 10% down Jumbo’s up to $1.5mm
- Manufactured Housing / Mobile Homes (20% down / 600+ credit score)
- Acreage Properties
- Commercial Loans up to $500mm
- 3% & 5% down Conventional Loans– LPMI (Lender paid mortgage insurance)
- Foreign Nationals Loans (no social security or residency required)
We Also Offer:
- Conventional Conforming Loans
- High Balance Conforming
- Jumbo Loan Financing | 10% down Jumbo to $1.5mm
- FHA, USDA
- Reverse mortgages up to $1 Million Value
- Cash Out Refinancing
**Rates and terms subject to change without notice
We are never too busy for your referrals!
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