It was not too long ago when self employed borrowers were able to qualify for mortgage financing with stated income and no documentation loans. With stated income mortgages, lenders simply asked borrowers to "state their income". If their credit was ...
Business And Finance business finance income borrowers employed mortgage statedMortgage financing for self-employed borrowers can be a daunting task. It is common knowledge that the lending industry is still feeling the effects of the economic collapse almost a decade ago, and as a result, the rules for obtaining a mortgage hav...
Business And Finance business finance income borrowers employed mortgage statedLenders are interested in mainly 3 things – the borrowers’ income, employment and assets. If the borrower can document those items and the lender can verify them, the loan is considered relatively low risk. This type of full documentation loan is...
Business And Finance business finance income stated assets verified employment loan types