Stated Income Home Equity Loans 2022

2020 stated income home equity loans. That is right we have this hard to find Stated Income Home Equity Loan. Right now it is only available in California. This loan can be in first position “1st”or in 2nd position on your property. Yes it is true you can get a stated income home equity loan on an owner occupied property.

Stated income home equity loans are structured to assist self-employed consumers and business owners. Perhaps the key for the self-employed individual seeking to qualify for a home equity loan or secured line of credit process is the self-employed business persons debt service ratio. Stated Income Home Equity Loans

The self-employed have a myriad of legitimate tax write-offs that affect their income stream. Lenders accordingly want to look at the revenue stream that the self-employed have to service their existing debt load. With this loan product we do not look at the income stream.

Additionally, even consumers with a fixed salary or other income streams may have additional business income that could qualify them for either additional home equity funds. In today’s economy it is more and more common for borrowers to have multiple income streams.

To find out more see our “Hot Loan Products” for rates and guidelines.

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