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Home
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Programs > Stated
Income Loan Program
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Stated Income Loan Program
F&M Mortgage Group’s
Stated Income Loan Program is ideal for those borrowers
who have verifiable assets employment income (even self
employment earnings). We provide a variety of stated income
loan programs, including:
Basic Stated Income – Also known
as the No Income Verification Loan (NIV), with this mortgage
type, you’ll be asked for bank statements and proof
of assets. If you are self-employed, you may be asked
to provide a business license, incorporation papers, or
DBA listing you as sole proprietor. Persons filing W-2
tax status do not typically qualify for this program.
Stated Income with No Bank Statements
– While you are not required to provide business
or personal bank statements for this type of loan, you
must demonstrate that you have money available to meet
at least two month’s worth of mortgage payments.
Stated Income/Stated assets – This
flexible program requires no verification of borrower
income or assets. This type of loan requires exceptional
credit scores.
Wage Earner (W-2) program – This
program is ideal for borrowers who receive W-2s and have
no self-employment documentation. You state your income
(which is not verified) and assets. Your loan rate is
dependent on if these assets are verified or not.
No income/No asset (NINA) – As
the program’s name states, there is no income or
asset verification for this loan program. To qualify for
this program, you must have a top-notch credit score.
This program is popular with borrowers who do not wish
to disclose what assets they own or their incomes.
Our F&M Mortgage Group consultants can provide you
with details regarding this or any of our variety of home
loan programs. Call us today to learn which one is the
right one for you. |
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