Requirements For Cash Out Refinance Cash-Out Refinance Explained: Benefits, Uses, & Requirements – A cash-out mortgage refinance is a great option if you can get a good interest rate on your new loan and you have plans to spend the money wisely (debt consolidation or home improvement). learn more about this program, and other refinance options, by making a 10-minute call to one of our salary-based mortgage consultants.
Rates may vary depending on property type, credit scores & loan program, so contact us today so we can provide you with a quote and explain just how simple it is to make your investing dreams come true! 800-917-1595 Stated Income – It’s that Simple!
Stated Income HELOC For those borrowers who have taken fairly good care of their credit you can get a home equity line of credit without income verification. That’s right no tax returns, no W2’s and no pay stubs.
Chase Refinance No Closing Costs A no closing cost refinance will usually come with a higher interest rate to make up for the lost costs. That rate could be as much as a half a percent higher than if you were to pay closing costs. A half a percentage point over the course of a loan will cost you tens of thousands of dollars over the life of the loan making it more expensive in.
While a home equity loan will have an interest rate greater than that of a home equity line of credit, it its tax deductible up to $100,000, and is paid back in fixed monthly payments. Ideal for single large expenses, these loans are perfect when an unexpected cost interrupts your budget.
Low-doc/no-doc loan programs are used for purchase loans, fixed rate home equity loans and home equity credit lines (helocs), but no stated income for mortgages above 100%. Typically, there is more equity required on no doc loans. Whether you are looking for a stated income loan in California, New York, or any of the other 48 states, we can help.
The borrower was qualifying for a home loan almost entirely on their credit history, and the no doc mortgage lender used that to decide whether to approve or reject. As you can guess, many of the failed mortgages from this era were no doc loans, also known as a stated income mortgage. As loan as the borrower had average or better credit, they.
Stated-Income HELOC With any HELOC or home-equity line of credit, you will be able to gain access to your home-equity whenever you need it. You will be able to access it with a checkbook or a debit card as needs present themselves.
No Collateral or equity, NO PERSONAL GUARANTEE No W2’s Use Funds to buy real estate Use for down payment Use for construction. business unsecured Line of Credit – Stated Income $250,000+ Up to $250k+ lines of credit down to 680+ credit score! All Business: LLC, LLP, C or S Corp even Sole Proprietorship (aka DBA) Can be Start Up Business