Huh? Stated Income Verified Assets?

Yes, that’s right, Stated Income Verified Assets… but it’s not a program for ALL like we’ve had during the subprime “glorious” days.  This one is more calculated and has been designed to be a better fit for some sophisticated borrowers.

Let me start with what it’s NOT:

  • No marginal credit score
  • No First time Buyers
  • No Assets that cannot be verified
  • No Investment properties

If you’ve eliminated all of the above then you can go on and read the rest, since you may be a qualified candidate:

  • Primary Residence or Second Home
  • Minimum Credit Score 720+
  • Loan amounts $420K – $1.5M
  • Maximum LTV 60%
  • There is NO Limit of how many properties you own/have financed
  • The sweet part: Assets Verification verifying that you have enough for the down payment and in addition you have sufficient Reserves to prove 12 -24 months on all properties you own
  • Refinance with Cash Out is OK but no more than $250K in cash out
  • Foreign National?  You’re OK
  • Where is available?  Nationwide
  • And No Seasoning is required

Let me not forget about Terms: 3/1 ARM, 5/1 ARM; 7/1 ARM, 10/1 ARM, Rates today starting in the 3’s all the way to 5’s.

Ready to see if you qualify?  Complete Carmen’s short form and I’ll be sure to respond within 24 hours.

What?  You’re not the Borrower but you know one that could certainly use this program?  Why not refer him/her to me and I make sure you get a nice Referral Fee? Just click the Tab to Contact me and fill in your info.  I’ll be responding within 24 hours.

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3 thoughts on “Huh? Stated Income Verified Assets?

    • Debbie, this particular SIVA program is available nationwide, I have other SIVA for California ONLY with different guidelines. I presume you’re inquiring about the SIVA residential program. If not, let me know if you’re inquiring about commercial loans.

  1. Hello – I have a client in Athens, GA with a multi-family apartment complex (164 units), currently under renovation and leasing process. 65 units are renovated and 42 units are leased. Mostly cosmetic upgrades. They need to refinance out of the private notes which have high interest rates. Would like a bridge loan for 12 months until they meet the requirements for HUD refinancing. Could be two loans if you can do both. Loan amount requested is $3.75MM against $7.1MM value (ARV).

    Please reply to: Joe Andahazy joe@fairmarketfunding.com or 703-980-1569

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