Stated Income Loans CA
Are you Self Employed or a Business Owner?
Tax returns preventing you from getting a good rate?
Not anymore, Provide your 12-24 months (business or personal) bank statements with a CPA letter for income qualification!!
Our San Diego Stated Income Loans allow self employed borrowers to qualify based on the amount of deposits into their bank account, where the cash flow is sufficient to cover the new mortgage payment and all other debts.
Stated Income loans are best for investors and business owners who write off a majority of their income on yearly taxes (as we all do) and need an alternate way of qualifying their income to purchase an investment or owner occupied 1-4 unit property.
Stated Income Program Highlights:
- 12 and 24 month Bank Statement options available.
- Up to 90% LTV (on Purchases & R/T Refinances)
- Borrower and Lender paid points available.
- Must have 2 years verifiable self employment income.
- No Tax Returns
- No 4506T
What you would need for submission
- 12-24 Months Bank Statements (business or personal)
- Copy of Business License (3 years)
- CPA Letter (stating you are 100% owner, you have been in business for 2 years and they have done your taxes for two years | Also list your current expense ratio and the CPA License Number)
- Purchase Contract (for purchase)
- Current Mortgage Statement (for refinance)
- Hazard Insurance Dec Page or New Quote for purchase
- Driver License (front and back)
Valor is FUNDING Stated Income Loans for California residential properties. We are Non QM Specialists! No tax returns! We use 12-24 months bank statement cash flow for self employed borrowers and business owners.
Call me now for immediate attention to your scenario.
For the most up to date mortgage new visit: Mortgage news daily
