Stated Income Mortgage Loans

Ask your mortgage lenders about stated income loans and no income home loan options that require less documentation for self-employed and salaried borrowers. There are more self-employed and independent contracting borrowers than ever before. Therefore, the need for second mortgages with reduced income documentation is also greater than ever. Nationwide works with mortgage lenders that offer stated income mortgages, no doc home refinance loans, and streamlined credit lines with no ratios required for qualified borrowers. Since the "stated loans" require less paperwork, the process is streamlined and typically they will close a week earlier than full-documentation programs will.

Stated Income Mortgage Lenders for Limited Doc Home Loans

Consider taking out a quick and easy no income verified 2nd mortgage or refinance loan online and take advantage of a streamlined loan process for faster loan closings. Getting a no income mortgage is easier than you think. Compare reduced documentation options and stated income loan options for borrowers who meet the underwriter's qualification requirements. Get a free quote today from our stated income mortgage lenders with no obligation.

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No Documentation Mortgage

Stated Income Home Loan Options

Second Mortgage Lines to 90%

No Income Home Loans (see lender)

Cash Out for Debt Consolidation

Limited Doc 2nd Mortgages

Interest Only Mortgage Options

No Mortgage Insurance Required!

Credit Line with Prime Rates for Life

2nd Mortgage with No Documentation
No Income Verified Loans (see lender)

No income mortgage loans are difficult to qualify for these days. You need excellent credit and typically a lot of equity in order for a lender to approve you for a stated income mortgage. *See lender for eligibility for programs and program availability because many no income loans have been placed on hold.

Stated Income Mortgage

Are you concerned about the application process because you are self-employed or on some type of commission, or tip position employment? A Stated Income Second Mortgage with no income verification could be the perfect loan for you!

What type of credit scores do I need for a "Stated Income" second mortgage?
"Stated Income" Loans require less income documentation than traditional loans, so credit scores become the major compensating factor when no income verification is required. Typically more equity is required for limited or stated income 2nd mortgages.

How long do I need to be self-employed to qualify for a no income verification loan?
Most lenders have set underwriting guidelines at 2 years as a minimum for self-employed borrowers in the same line of work. Check with our no income mortgage lenders for the latest requirements.

At Nationwide, we understand that people who own a business have a variety of reasons that verified income would prove difficult. A Stated Income Mortgage doesn't require the same level of verification. Interest rates are on the way up, so don't wait too long to apply for a low rate 2nd mortgage, because of income verification concerns. Our experienced team of professionals can help you find the right loan that requires a limited amount of documentation. Apply for a Stated Income Second Mortgage!

Linda's Helpful Hints about a Stated Income Mortgage Loans
Ask Linda?

There are several different types of reduced income documentation loans. If you are applying for a stated income program, ask your loan consultant if you need to verify assets. If you are required to verify assets, then you will need to document 3-6 months of reserves depending upon the lender. The reserves are measured by month and they are looking for funds that total p.i.t.i (principal+ interest+ taxes & insurance) so if your p.i.t.i. totals $2,500 a month and the lender requires reserves of 3 months, and then you will need at least $7,500 in liquid assets.


When Is The Best Time For A Home Equity Loan?

2nd mortgages can be efficient tools for financing home improvements, investments and consolidating credit card debt. Home equity lines of credit can improve cash flow, and provide flexibility for investing. Having an equity line of credit can provide a safety net of cash reserves for family emergencies and investment opportunities. Second mortgage loans are not for everyone but, we suggest getting approved for a home equity loan when you need it least.

Take advantage of today's low rates, and consider a 2nd mortgage that allows you to keep your existing low rate 1st mortgage. Nationwide works with some of the few loan companies to offer No income No assets loans. This stated income mortgage allows you to maximize your home financing. Find lenders that still offer "No Doc" second mortgage loans that require No Income documentation & no verification of reserves.

Find Out Today's Updated Mortgage Rates

Get an accurate quote for a second mortgage, refinance or home purchase. Our professional team will help you discover the reality of today's interest rates. We will help you understand the different loan options and how they apply to your credit qualification.

For a Free Quote for Current Second Mortgage Rates

 

Resource Tools

Loan Comparison Calculator
This calculator will help you to compare the total mortgage interest charges of four types of stated income loans.

Refinancing Calculator
Analyze the benefits of refinancing. Get help calculating the monthly payment and discover the net interest savings. It will also calculate how many months it will take to get a return on investments for the mortgage loan costs.


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Free Loan Guides & Helpful Consumer Reports

Take advantage of our no cost mortgage guides and that help consumers better understand interest rates & requirements for stated income mortgage programs.

ARM Rate Mortgage- Guide
Consumer Guide -Rate Locks

Are you concerned about the application process because you are self-employed or on some type of commission, or tip position employment?

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.

* Second Mortgages for All Types of Credit

Related Second Mortgage Pages:
No Documentation Mortgage | Low Closing Cost Options | Preferred Second Mortgage Loans | Bad Credit Mortgage | Home Mortgage Refinance | Low Rate Second Mortgage | Refinancing Second Mortgage | 125 Mortgage Piggyback | FHA home mortgage loan | No Income Mortgage | Mortgage Refinancing | Bad Credit Refinance | Home Equity Mortgage Loan Demand Soars
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BD Nationwide Mortgage, 515 Encinitas Blvd. Ste 100, Encinitas, California 92024
Please note that this is not an advertisement for credit as defined by paragraph 226.24 of regulation Z. Nothing on this site contains an offer to make a specific home loan for any purpose with any specific terms. This is a web-site and no loans can be guaranteed as loans and rates are subject to change. BDNationwideMortgage.com does not make loans or promise approvals on no income mortgage loans. Nationwide is affiliated with national lenders and a federally chartered bank located in Maryland licensed to offer home loans in all 50 states. Copyright 2001-2013 and Beyond, Nationwide Mortgage Loans All rights reserved.