Comments on: WHAT BANKS/MORTGAGE LENDERS STILL OFFER ‘NO INCOME VERIFICATION LOANS’ (NIV) OR ‘STATED INCOME LOANS’? http://www.statedincomeloans.info/what-banksmortgage-lenders-still-offer-no-income-verification-loans-niv-or-stated-income-loans/ Information on Stated Income Loans Thu, 09 Feb 2012 13:01:59 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: RM http://www.statedincomeloans.info/what-banksmortgage-lenders-still-offer-no-income-verification-loans-niv-or-stated-income-loans/comment-page-1/#comment-341 RM Sat, 03 Apr 2010 16:50:09 +0000 http://www.statedincomeloans.info/what-banksmortgage-lenders-still-offer-no-income-verification-loans-niv-or-stated-income-loans/#comment-341 Yikes, as a self-employed borrower you are naturally higher risk. If you've been self-employed less than 3 years, odds are you're not making a profit and reporting losses to the IRS. Another strike. Any lender who would give you a loan is probably about to go out of business or is very shady. Your best bet is to pay cash and then take out a HELOC once you have enough history to show that you're making a profit. Yikes, as a self-employed borrower you are naturally higher risk. If you’ve been self-employed less than 3 years, odds are you’re not making a profit and reporting losses to the IRS. Another strike.

Any lender who would give you a loan is probably about to go out of business or is very shady. Your best bet is to pay cash and then take out a HELOC once you have enough history to show that you’re making a profit.

]]> By: golferwhoworks http://www.statedincomeloans.info/what-banksmortgage-lenders-still-offer-no-income-verification-loans-niv-or-stated-income-loans/comment-page-1/#comment-340 golferwhoworks Sat, 03 Apr 2010 16:45:01 +0000 http://www.statedincomeloans.info/what-banksmortgage-lenders-still-offer-no-income-verification-loans-niv-or-stated-income-loans/#comment-340 conforming but only to a 75% loan on the sales price and with a 720 or higher score conforming but only to a 75% loan on the sales price and with a 720 or higher score

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