CAN I GET A STATED INCOME/VERIFIED ASSETS LOAN WITH 10% DOWN WITH COUNTRYWIDE?
I’m in escrow right right away and we have been only waitting on the loan docs. The lender is Countrywide. We’ve attempted with alternative lenders prior to which would not do the loan since they were asking for some-more support which we propvide to determine the income. Countrywide is the final resort. We have been putting 10% down. Purchase cost is $255k
My father is self- in use and I get tips, that’s the reason because we can’t infer the income.
Related posts:
- COUNTRYWIDE HOME LOANS – MORTGAGE FORGIVENESS DEBT RELIEF ACT OF 2007?
- CAN WE STILL GET A LOW-DOC OR STATED INCOME LOAN?
- 5% DOWN STATED INCOME??
- CAN ANY ONE SUGGEST LENDER IN SOUTHERN CALIFORNIA WHO COULD DO A STATED INCOME LOAN.?
- HOW IS STATED INCOME VERIFIED FOR A HOME LOAN?
Tagged as:
Assets,
Countrywide,
Down,
Escrow,
income/verified,
Last Resort,
Lenders,
Loan,
Loan Docs,
Loan Lender,
Reason,
Self Employed,
stated,
Stated Income
{ 3 comments… read them below or add one }
I doubt it, they are going to need some documentation regarding where the income comes from.
Good luck.
If you’re borrowing from the sole lender that’ll extend you credit, all the others are telling you you are not credit worthy. Perhaps that should give you pause as to acquiring this real estate at all.
Are you not providing documentation on your income because this is a “ninja” loan? No income, no job or assets. If you have documentation and can obtain a better rate by providing it you’d be foolish not to hand it to the lender.
I bought a condo through CW. It was called the fast and easy loan. It’s basically a no-doc loan with full doc pricing. I got a 30 year fixed for 5.875% with .75 points in December 2007. I put down 5% and pay tax advantage mortgage insurance (bump up rate an extra .5%). Honestly, CW is the best lender out there in terms of programs. I shopped around also but in the end Countrywide met my needs. You will be approved if you have a credit score above 720 and have 10% down with no documentation and will still get full documentation rates (ask for the fast and easy loan).