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Stated Income Mortgage Loans
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 Mortgage Loans is a mortgage lender from San Diego, California who offers stated income mortgage loans, no doc home refinance loans, and streamlined credit lines with no ratios required. Consider taking out a quick and easy no income verified 2nd mortgage online and take advantage of a streamlined loan process for faster loan closings.
No Documentation Second Mortgage
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Stated Income Loan Options |
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Second Mortgage Lines to 100% |
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NO Income Verification Loans |
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Cash Out for Debt Consolidation |
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Limited Doc 2nd Mortgages |
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Low Interest Only Mortgage Payment |
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No Mortgage Insurance Required! |
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Credit Line with Prime Rates for Life |
Learn more about Second Mortgages |
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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. |
| 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. |
At Nationwide Mortgage Loans, we understand that people who own a business have a variety of reasons that verified income would prove difficult. A Stated Income Second 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 second mortgage
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? |
Home equity loans 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. We suggest getting approved for a home equity loan when you need it least.
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Take advantage of today's low rates, and consider a 2nd mortgage that allows you to keep your existing low rate 1st mortgage. Nationwide is one the few loan companies to offer No income No assets loans. This Stated second mortgage allows you to maximize your home financing. We 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.
Click Here for a Free Second Mortgages Rate Request |
- First-time Homeowners OK
- No Mortgage Insurance Required
- Second Mortgages for All Types of Credit
- 100% CLTV Behind a 1st mortgage with a Negative Amortization
Our underwriters do not gross up the mortgage balance!
We use existing loan balance so you can do a 2nd mortgage.
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Loan Comparison Calculator
This calculator will help you to compare the total mortgage interest charges of 4 types of 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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