Stated Income Loans from Sun Pacific Mortgage

[Ken and Ari Walker]

Experience has left a lot of us shuddering when we hear about mortgages based on “stated income.”  We remember the many Homeowners who fell into foreclosures and ended “upside down” in their mortgages largely because they were clearly unable to afford the mortgages they accepted.

Despite this, more recently one hears about the availability of “Stated Income” loans.  These can have multiple meanings and here at Sun Pacific, we want to be clear how our “stated loans financing” works:

Stated income loans from Private Investors are considerably more stable and credit worthy than the ones of a decade or so ago. We just require something showing income: this could be a CPA letter, employer letter, paystub, lease agreements, 3 months of bank statements, etc.  We also require proof that you, the Borrower, can repay the loan with income from available and stable source(s).

While other financial institutions require an excess of documentation to prove you do not exceed their debt-to-income ratios, need excess bank statements, tax return, etc. our company accepts a simple form of proof that verifies your ability to repay the proposed loan.  We do not have set debt-to-income ratios like majority of the other traditional and conventional entities.

Not having to provide boatloads of documentation makes the entire lending process less cumbersome and allows the loan to move through approvals much faster. For this reason, one can state their income, provide proof of such income and we can then often close a loan in less than a week.

If this sounds like a solution to your concerns, give us a call at 707-523-2099 to discuss a loan for your needs. Or visit our loan program page for Stated Income Loans by clicking here.

Click here to learn more about our company.

 

Best, Ken – The Guys in the White Hats
Hard Money Lead Loan Originator at Family owned and operated Sun Pacific Mortgage & Real Estate, serving all of California since 1988!  707-523-2099   www.Sunpacificmortgage.com
CA DRE License #01858042 and NMLS #1221130

 
Note:  Get our financing despite bad credit, difficult to prove income, property a fixer, etc.!  We finance Jumbo loans, Bridge and short-term loans, Owner Occupied purchases and refinances, investment purchases and commercial.

The content of this blog contains general advice only and does not consider individual financial circumstances, desired loan amounts or existing real estate or lending transactions. This information is intended for licensed Real Estate Agents and licensed Lenders/Mortgage Brokers and is posted on our company website and specific blog sites with the express purpose of reaching such licensed individuals.