Stated Income Verified Asset Investor Loans
LENDERLINE® is currently offering stated income verified asset investor mortgages, under the following guidelines:
- Property must be located in the State of California.
- Income is stated but not verified (see underwriting guidelines).
- Wage earners or self-employed borrowers allowed.
- Verbal verification of employment with no reference to income required for wage earners.
- Current plus past 2 years’ business or professional license required for self-employed.
- CPA letter may be used to verify self-employment in lieu of business or professional license.
- No paycheck stubs.
- No W2s.
- No tax returns.
- No 4506-T.
- Up to 75% loan-to-value (see underwriting guidelines).
- US citizens and US permanent residents allowed.
- Foreign national allowed to a maximum of 70% loan-to-value.
- Credit scores as low as 500 allowed.
- $100,000 minimum loan amount.
- $5,000,000 maximum loan amount.
- Non-owner-occupied or business purpose properties only.
- Primary residence or second homes are not allowed on this program.
- Purchase, rate and term, or cash-out refinance.
- SFR, PUDs, condos, townhouses, and 2-4 unit properties.
- For sale by owner transactions are not allowed.
- Maximum debt-to-income ratio is 50%.
- No reserves required.
- Gift funds allowed for down payment and closing costs.
- Impounding of property taxes and hazard insurance is required.
- Available only as a 5/1 ARM or 7/1 ARM, with a term of 30 years.
- All loans require impounding of property taxes and hazard insurance.
- Interest-only option available (see underwriting guidelines and pricing adjustment).
- No prepayment penalty.
LENDERLINE® is your stated income verified asset lender of choice. We offer stated income loans in California. Get a stated income mortgage, also known as a SIVA loan, today.
Questions? To get today’s interest rates or to receive a FREE mortgage consultation, call LENDERLINE® toll-free at 1-888-661-7888, or complete this form to schedule an appointment.