stated stated

Don · #1 (**permalink**) 09-03-2007, 07:09 AM

i know this is non existent these days but i need a stated loan stated assets or a stated income verified assets if the assets don't need to be seasoned for a property in Virginia with a loan amount of 600k they are self employed with a 670 mid and takers? oh we are trying to stay around 5500 per month...don't laugh

florida man · #2 (**permalink**) 09-03-2007, 09:58 PM

hey don
i dont know about stated fico , stated value, stated whatever, but you forgot to say what the LTV is.

You wont find a stated product with no seasoning.

Don · #3 (**permalink**) 09-03-2007, 10:59 PM

sorry we need 95% if possible i know its hard to find these days

Jhinton · #4 (**permalink**) 09-04-2007, 12:42 PM

if it is a one unit , you can get sisa or siva with Vertice (wachovia/world savings). also try to get a full voe and run it do/du as full doc

florida man · #5 (**permalink**) 09-09-2007, 07:07 PM

stated WITHOUT seasoning????? for CASHOUT ???

I dont know for R/T in this climate, but certainly cashout would be out of the question stated without seasoning at that ltv.

Secret! · #6 (**permalink**) 09-10-2007, 03:55 PM

Don, use BANK STATEMENTS or Turn it Down! Anybody here enabling you by providing access to a foolish wholesaler to do that clearly less than desirable loan is one thing that got the industry in the condition it is in today.

You all do understand that, right?

florida man · #7 (**permalink**) 09-11-2007, 12:38 AM

Peter

I have to agree with u on this one. Use the bank statements.

Stated income is really only for very specialized and bizarre situations. Few need to go 'stated' .

Unless they dont really qualify for the loan that is.

Secret! · #8 (**permalink**) 09-11-2007, 09:17 AM

Quote:

Originally Posted by florida man

Peter

I have to agree with u on this one. Use the bank statements.

Stated income is really only for very specialized and bizarre situations. Few need to go 'stated' .

Unless they dont really qualify for the loan that is.

Thanks florida-dude

bush4499 · #9 (**permalink**) 09-12-2007, 09:14 AM

i can possibly get him an unsecured business line of credt, his fico is a little low. What is his experian fico? i've gotten business owners 300k in some instances. call me if your interested. This will get your LTV down to a managable one.

Anthony Busciglio
JB Capital
201-703-8444
anthony_busciglio@hotmail.com

quick2close1 · #10 (**permalink**) 09-14-2007, 10:35 AM

do you use the business line of credit to pay down the principle balance, or how do you use the business line of credit to lower the LTV?