Believe Lending

Stated Income & Stated Asset Loans

To 75% LTV

A stated income loan is a mortgage where the lender does not verify the borrower’s income by looking at their pay stubs, W-2 (employee income) forms, income tax returns, or other records. Instead, borrowers are simply asked to state their income, and taken at their word. This loan is traditionally used for self-employed borrowers or borrowers who have trouble providing full documentation.

WHO QUALIFIES??

Must be 18 years or older
U.S. Citizens
Green Card Holders (non U.S. Citizen)
H-1B Visa & EAD Card Holders (non U.S. Citizen)

Apply Online Today!

LOAN DETAILS:

When the banks say “No”, the hard money lenders can still say “Yes”.

CRITERIA	PORTFOLIO 1	PORTFOLIO 2	PORTFOLIO 3
TERM	7/1 ARM	7/1 ARM	NO U.S. CREDIT SCORE REQUIRED
CREDIT SCORE	700 FICO	680 FICO	NO DTI RATIO
LTV	60% MAX LTV	70% MAX LTV	UP TO 75% LTV
EMPLOYMENT	W2 / SELF EMPLOYED	W2 / SELF EMPLOYED	W2 / SELF EMPLOYED
PROPERTY TYPE	PRIMARY/ 2ND HOME / INVESTMENT / 2-4 UNITS	PRIMARY/ 2ND HOME / INVESTMENT / 2-4 UNITS	PRIMARY/ 2ND HOME / INVESTMENT / 2-4 UNITS
LOAN AMOUNT	MIN LOAN : $100,000 MAX LOAN: $2.5 MILLION	MIN LOAN : $100,000 MAX LOAN: $2.5 MILLION	MIN LOAN : $100,000 MAX LOAN: $5 MILLION
LOAN PURPOSE	PURCHASE / REFI / CASHOUT	PURCHASE /REFI / CASHOUT	PURCHASE / REFI / CASHOUT
DTI	43% MAX DTI	43% MAX DTI	45% MAX DTI
RESERVES	12 MONTHS RESERVES	12 MONTHS RESERVES	12 MONTHS RESERVES
PRE-PAY PENALTY	PRE-PAY PENALTY - 24 MONTHS	PRE-PAY PENALTY - 24 MONTHS	PRE-PAY PENALTY - 48 MONTHS
STATES	CA ONLY	CA ONLY	CA, FL, TX, OR, CO

PROS		CONS
Quicker Application Process – Less Due Diligence		Higher interest – Has a higher cost for less hassle
Self-Employed Borrowers – No Income Docs Required		Higher chance of Default – Ability to Repay is not verified

If you have any questions, Call or Text Andrew Ojeisekhoba At 949-232-9569

Apply Online Today!