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.