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what is stated income mortgage loans

If you can show proof of your income for a full-documentation loan, you’ll get more competitive rates and terms than other loan types for self-employed borrowers, such as a no-documentation loan or.

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A SIVA loan, or stated income/verified asset loan, allows you to state your monthly gross income on the loan application and requires you to verify your assets by furnishing bank statements or a similar asset document. By state, I mean just inputting a gross monthly income figure on the loan application.

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What about stated income loans? | Yahoo Answers – A stated income loan is a mortgage whereby we do not verify the income of borrower by looking at their pay stub, employee income forms, other records or income tax returns but borrowers provide reduced documentation and qualify by using bank deposits as proof of income.

Stated Income, Bank Statement & Self Employed Home Loans. – Stated Income Loans. We also offer true Stated Income Loans & Asset Qualification Loans.. These programs require a greater down payment than our bank statement loan programs, higher credit scores and net worth.

Stated Income, Bank Statement & Self Employed Home Loans. – Stated Income Loans. We also offer true Stated Income Loans & Asset Qualification Loans.. These programs require a greater down payment than our bank statement loan programs, higher credit scores and net worth.

Another "setback" to a stated income loan is that a bank or lender can ask that you fill out an IRS Form 4506-T, which basically authorizes the lender to request your tax returns from the IRS for the previous two years.

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Stated Income Mortgage Loans – No Income Lenders – A Stated Income Mortgage with no income verification could be the perfect loan for you! * Reduced Documentation with Streamline Refinance * No Mortgage Insurance Required on Most Stated Income Loans in 1st or 2nd Position.

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A stated income-stated asset mortgage (sisa) loan application allows the borrower to declare their income without verification by the lender. These loans were designed to ease the application.