|
Are you struggling to get refinanced because you own a business and have trouble proving your income? Maybe you are trying to refinance so you can use the cash out to grow your business. If this is the case, then you really need the cash and you need to be able to do this with a stated income refinance mortgage. Here is what you need to know. This type of loan was built for small business owners. Mortgage companies came to the understanding that they could not force a business owner to try to prove what they really make because it is very difficult to do so. This is what caused them to introduce stated income programs. The stated income program basically works with no income documents. You will not need your tax forms or anything proving your income. Just write on a piece of paper how much you make and sign it. That is all they will need and that is what they will go off of. Now you will need to have a pretty strong credit score to make this program wor for you. This is a requirement and a credit score of over 650 will usually get you done. The higher the better because you will get a better mortgage with a higher credit score. Expect your rate to be a bit higher than a normal mortgage, but it will not be drastic. You should also know that this mortgage is usually a bit quicker because there is not messing around with documents. You just get your credit pulled, qualify, have an appraisal done, and sign the papers. It can be done within about 10 days. The stated income refinance mortgage will probably be the only way you will get what you need out of a mortage if you are a business owner or work for cash. Use it to your advantage and make sure you get a good deal. Discover the companies that do Mortgage loans withStated Income Refinance Mortgage. Go here for more info: Stated Income Refinance Mortgage
Related Articles -
Stated Income Refinance Mortgage, Stated Income Refinance Mortgages,
| 
