I am self in use and wish to get a debt for 612k on brand new home! i have gotten loans inthe past the lender did them as settled can i still find loans over 500k which will possibly do settled income similar to i had finished before. my association creates copiousness of income is it possible!
Direct!
Thanks I didnt know they could still be done!
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{ 3 comments… read them below or add one }
yes there are lenders that will do this type of loan still. the guidelies have tightened but they are possible if you have a good strong income! and can show it even if you dont pay yourself a check!
As far as the loans over 400k yes they are ealsily done! there are few places to go with loans over 400k but a few lenders are still doing them.
go to the lenders directly dont pay a middleman for these high amount loans why pay the middleman!
both purchases and refinancing is still avalible its finding someone that still has acess to this type
typically your talking about a jumbo loan with a stated borrower!
They are commonly done here!
They can be done, but they are becoming much tougher to come by, you better have outstanding credit and outstanding income, even that may not be enough, it’s going to be a lender by lender decision. The other item you need to watch for is that loan amount, while it’s true that recent congressional action has raised the amount for jumbo loans, I do not believe that it has gone into effect yet. if it has not, then you’ll be dealing with the 417k limit and getting a home equity for the rest, make sure you ask about the jumbo loan amount increase as well
If you are the owner of the company and it shows a good profit, then you shouldn’t have to do a stated income loan. You just need to get a copy of your business tax returns to go along with your personal tax returns. It may be a little additional work, but it will save you a small fortune in interest expense.