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Old Today, 07:27 AM
 
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Are these still available?
I am in Los Angeles, self employed for 10 years, bring home $250,000+/year, have a 750 FICO, 20% down, and 12 months reserves.
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Old Today, 07:40 AM
 
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Quote:
Originally Posted by D91355 View Post
Are these still available?
I am in Los Angeles, self employed for 10 years, bring home $250,000+/year, have a 750 FICO, 20% down, and 12 months reserves.
Yes, but not for a consumer loan like before. YMMV
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Old Today, 07:54 AM
 
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few and far between but a mortgage broker might be able to help with finding niche/alternative lenders with a wider range of mortgage products.

most "stated" loans today will require 12 months of bank statements (proving steady deposits) and a CPA letter to prove business ownership interest. Many of these loan options won't allow for W2 workers to provide bank statements - you'll need to have some sort of ownership interest in some sort of business for these bank statement loans. Rates are usually slightly better if you can show 24 months of bank statements with steady deposits.

Hard Money loans are more classically "stated" income, but most won't go over 75% loan-to-value
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Old Today, 10:09 AM
 
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Quote:
Originally Posted by D91355 View Post
Are these still available?
I am in Los Angeles, self employed for 10 years, bring home $250,000+/year, have a 750 FICO, 20% down, and 12 months reserves.
Yes, anything from a 1-month Bank Statement Program with zero proof of S/E, up to the traditional Business Licence or CPA letter asserting Self employment. Fully stated income.

You might get better terms with an Alt-Doc program (bank statements or business bank statements.)

Also Declining Assets if your liquid assets are sufficient.

I'm seeing quite a few options with reasonable terms. Lots of programs similar to ten years ago, but not with the low-fico options.
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