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Stated Income Loans

Stated Income LoansStated income loans still available, or a law to stop them now?

I want to Barrow some equity in my home and enjoy an excellent credit. But self-employed. Have they still stated income loans today, or the law has changed now?

Yes, the self can still get loans. However, with most lenders, the maximum loan amount is 75% of the value of the house.

If you can prove your income using tax returns (the average of the last two years to adjust federal increase will be used for the qualification), then you can go full documentation and get a better rate as well.

self-employed still get a loan, I am independent.

Just make your statement with your federal income tax records.

Posted on February 20, 2010.
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