CALIFORNIA STATED INCOME MORTGAGE LENDERS

CALIFORNIA SELF EMPLOYED MORTGAGE APPLICANTS HAVE A HARD TIME GETTING A MORTGAGE

Are you self-employed having a hard time proving your ability to repay a mortgage to your local bank? Someone told you a stated income mortgage might be the way to go because you will not have to your tax returns. Today there are many options for self-employed borrowers using bank statements only to verify the ability to make the mortgage payments.

CALIFORNIA STATED INCOME MORTGAGE LENDERS- SERVING ALL CALIFORNIA 

Stated income California mortgage lenders were dissolved for many years after the California mortgage crash. Stated income loans have made a comeback with a twist.  Today’s stated income California mortgage lenders slightly differ from California stated liar home loan programs that created the California mortgage crash.  New California ability to repay mortgage requirements put into play after the housing crash mean California mortgage lenders have verified the mortgage applicants ability to repay. Stated income California mortgage lenders must meet these requirements known as “qualified mortgages”.  Any Stated California mortgage loan that does not meet the benchmark is a non-qualified mortgage or non-QM mortgage loan.

HOW STATED INCOME CALIFORNIA MORTGAGE LENDERS QUALIFY STATED INCOME TODAY!

Currently, stated-income lenders offering stated loan offer them differently. In the past, a mortgage applicant could simply state their income with just evidence of any kind. Stated income mortgage program today require that mortgage applicants verify the ability to repay. The problem is for most self-employed is that if they are required to show tax returns they cannot prove the ability to repay if you are looking at the adjusted gross income after expenses. Alternatively, mortgage applicants can verify their income using an average of 12 or 24 months bank statement deposits. The new California stated income program is referred to as bank statement loans. With this new California mortgage loan program your using a different method of documenting you ability to repay than providing tax returns.

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