Stated Income Loans Texas for Self-employed Borrowers
Stated Income Loans in Texas is one of the most relaxed and flexible lending options as it can be offered without income verification, documents, and tax returns. As a borrower doesn’t need to provide employment proof or income verification so that they won’t need to invest their time in filing document after document. They are basically approached to express their income and taken at their word.
Isn’t it great news for all the self-employed borrowers and other borrowers who face difficulties in the past to be eligible for a mortgage? Yes, they can now take advantage of this loan program according to their requirements. And Lending of America comes with such flexible lending options of Stated Income Loans in Texas to meet your needs.
The Lending of America has been serving this loan industry for over many years and connected with some of the top lenders in our network. You can ask our professional experts any queries that you have in your mind.
Why You Need Texas Stated Income Loans:
These loan programs are specially designed for self-employed borrowers or other borrowers with low credit as well as candidates who don't need their income documents to be audited by financiers. People having an unbalanced income source or have decreased self-employed income can apply for it. It is approved dependent on your money reserves and monthly payment capability.
It can fill the gap of your financial assistance that you cannot receive from the normal loan standards. These loan programs can likewise help borrowers where fully documented loans normally would not think about the source of income as being dependable and constant. You won’t need to worry about your potential income in the future in the case of fully documented loans.
Major Considerations for Texas Stated Income Loans?
- You must supply the personal or business bank statement copies
- Borrowers need to give the bank statement of your work/li>
- You should have a minimum of 2 years of business background with a reliable income
- You need to meet the minimum down payment requirement
- You need to meet the requirement of good credit scores and good reserves. Also, it depends on the equity position of the property.
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