Stated Income Home Loans from Pacific Crest Financial

STATED INCOME LOANS
We still have Stated Income loans!

WHAT HAPPENED TO ALL THE STATED INCOME LOANS? Did they disappear? Despite the recent turmoil in the financial markets, we still have many lenders offering Stated Income Mortgages. With a wide variety of programs available, we can satisfy both the self-employed and the wage earner. Please call for up-to-date pricing.

"Thank you for your service. You treated us just like an old friend."

Ron & Darleen
Tulare, Calif.

WHAT IS A STATED INCOME LOAN?
A stated income loan qualifies a borrower using the income the borrower states on the loan application, as opposed to the income the borrower can document. With a stated income loan, the lender agrees not to attempt to verify the income the borrower states on the application. While lenders don't check income on a stated income loan, they do check the source of the income. Ordinarily, they require that you have held the same job for two years.

ALTERNATIVE INCOME DOCUMENTATION
There are other ways to document your income to the satisfaction of many lenders. Here are a few alternative options:

No Income Documentation (No-Doc)
With this type of loan, no income at all is stated on the loan application. Also know as a No-Doc loan, you can qualify for this loan up to a 65% LTV. Rates and fees may be a little bit higher than a fully income documented loan.
Bank Statements
This is a form of income documentation that can help you avoid the higher fees of a No-Doc loan while making it easier to qualify for a loan. The lender will require 12 to 24 months of your bank statements and calculate your income based on the deposits made.