Consistent deposits can land you a stated income loan

Tight market conditions open up niche products for borrowers with high incomes that don’t want to use their personal taxes to obtain a loan.  In order to loosen the market, some lenders are now offering stated / low doc mortgage products to help these borrowers.  However, these programs contain other types of risk verification requirements to make sure the borrower has the ability to repay the loan.

The 12 months bank statement program, is one of three that we currently offer.  It requires self employed borrowers to provide 12 months of consistent personal bank statements in order to obtain a loan.  Of course there are other requirements as well,  such as verification in regards to credit, reserves, assets and income will be closely analyzed in order to qualify.

The best part in regards to our 12 personal bank statement stated income are the rates.  Most borrowers that are familiar with hard money loans, expect rates in the 8-9% range.  The rates in regards to these loans are much lower and seem to be closer to current market rates.

For more information in regards to our stated income alternate doc loans are please contact me directly.

Equal Housing Lender. Arcstone Financial Inc. is a California Corporation licensed by the Bureau of Real Estate, License # 01468445 NMLS #: 344236. Information is subject to change without notice. This is not an offer for extension of credit or a commitment to lend. All rates, fees and programs are subject to change and/or withdrawal from the lending practices without notice. Eligibility can vary based on meeting minimum credit score/trade line, documentation, Loan to Value and occupancy. Ask to speak with a home loan consultant for a pre-qualification/pre-approval or an approval. This is not a commitment to lend.