Stated Income Loans | MyMortgageBanker

MyMortgageBanker.com specializes in fast closings, mortgages for the self-employed and super jumbo loans.

Testimonials

I didn't think I could still get a super jumbo loan until I called your company...Thanks for the great loan…without any problems.
Chris J. Walnut Creek, CA

Thanks again for another terrific transaction. I was skeptical the first time I used your company since my local broker told me I couldn't get that kind of rate...you have come through exactly as planned again. I will be back.
Bill K. Sarasota, FL

Your service and expertise should be used as the standard for your industry. I have purchased and refinanced many times over the years and I have never had a lender set me as ease so quickly that there was a solution for my situation and then close the loan when and how you said you would. Thank You.
Glenn R. Arlington, VA

I was uneasy at first because your company was not local to me and my real estate broker told me horror stories about internet mortgage companies, but you told me not to worry and even though I did anyway it couldn't have turned out better. I appreciate the reassurances along the way and for coming through and having everything go exactly as you said it would. You will be hearing from me again.
Sarah L. Gaithersburg, MD

A+ from start to finish. I did not realize that I could get such a great rate...and such great service. Best experience I have received getting a mortgage.
John S. Portland,OR

As a real estate agent I have been to a lot of closings over the years and this was one of the smoothest transaction I have ever been involved in and (thankfully) it was mine.
Laura M. Cherry Hill, NJ

Just returned from closing on the refi and wanted to thank you and your staff for the efficient handling of this process. It's incredible to me that in a couple weeks you could accomplish what the original local group I had been working with was unable to accomplish in over two and one-half months. I will be pleased to recommend you and your bank to all of my friends and business associates when they have similar financing needs.
Ray H . Virginia

Stated Income Loans

Stated Income Loan Facts - Updated July 2008

Stated income loans are still available, but the rates are quite a bit higher than they were a few months ago.
Stated income loans are available with at least 20% down for the purchase of a primary residence or second home.*
Jumbo Stated Income loans are available with credit scores of 680 or higher and 30% down/30% equity or 20% down and higher FICO scores.*
Stated Income loans are NOT available for Investment Properties.
Stated Income Loans are not available in all states.**

Stated income loans were designed for the self-employed individual with stable income and employment, excellent credit and assets and a proven ability to handle their financial obligations. They are not for those with spotty work or credit histories or for those who are obviously in an occupation where they cannot make enough to afford the mortgage payment for which they have applied.

This loan is similar to the No Income Verification Loan program except in this case your income is "stated."

Stated income loan minimum requirements:

Stated income has to be reasonable and consistent for your profession, years of experience and credit profile.
You must have a lengthly credit history and high FICO credit scores.
You must have assets that are consistent with your occupation and credit profile and enough cash reserves.
You must have the financial capacity to repay the mortgage.

Please contact us at 1-800-414-5285 if you feel a stated income loan may be right for you. We only lend direct to the consumer...no brokers please.

Related Article: Stated Income Loans - The New (Old) Rules - a brief overview of stated income loans of the past and current day.

*Down payment or loan to value may be adjusted if property is in a Declining Market.

**Our stated loan programs are not available in CA, MD, NY, ME, IL, Dade County, FL and there may be additional areas where we will not originate these loans. Please contact us for details.