Posted by Nate(DC) on March 23, 2003 at 21:22:56:
Greenpoint or Chevy Chase can do it on their Alt A programs. However be prepared for a substantial risk premium based on the high LTV, stated income, and N/O/O, as well as PMI since you’re above 80% LTV.
NT
Need Stated Income 90-100% Great Credit!!! - Posted by bricla
Posted by bricla on March 22, 2003 at 22:53:40:
I would like to know if anyone knows of a mortgage co. that offers a stated income N/O/O loan @ 90-100% ltv.
I am in Michigan, 750’s credit score, I’m self employed so even if a lender has a product that only requires W-2’s, etc. ~ no problem ~ just can’t use tax returns.
I know I posted “Stated Income”, but any other suggestions will be helpful. Needs to be N/O/O
Any help would be appreciated.
Re: Need Stated Income 90-100% Great Credit!!! - Posted by Dee Patel
Posted by Dee Patel on March 24, 2003 at 10:40:53:
I’m a mortgage consultant and have sourced out several lenders that will likely work for you. I’m also an investor and had to get really creative on financing a couple of my own properties, therefore, I think I can help. If interested, you can contact me at candiddp@attbi.com.
Re: Need Stated Income 90-100% Great Credit!!! - Posted by Charles Clark
Posted by Charles Clark on March 24, 2003 at 09:42:17:
You can also get a 80/10 combo in the Alt-A programs. I arrange those types most of the time as the blended rate is lower, and if you can accelerate the payments a little, you pay off the higher interest rate “Piggy back second” and lower your net rate as you do so.
As long as you have been on your own for 2 years or longer, you can get a stated income loan, if not, you might be better served with a NO DOC loan, which you qualify for.
Also, there are lenders that will use 12-24 months bank statements in lieu of tax return income.
Charles