True Stated Income Now Available

C. N. Hamilton

Mortgages just got easier! For the first time in years, True Stated Income is now available. Primarily, this means a) no income documentation, b) no 4506-T, and c) no written verification of employment.

Requirements

  1. Minimum FICO: 700
  2. 12 months reserves
  3. Loan amounts up to $2.5M
  4. 40% down payment requirement up to a loan amount of $1M
  5. 45% down payment requirement up to a loan amount of $1.5M
  6. 50% down payment requirement up to a loan amount of $2.5M
  7. Condo 55% up to $750K
  8. 2-4 units 50% up to $1.5M

Documentation

  1. CPA letter or two years business license
  2. Description of business and third party verification required
  3. Salaried: Employment verification must show on Credit Report.

If borrower opens and account with an Auto Payment Feature for the mortgage, there will be a 0.25% reduction in cost.

  • 1 unit, SFR, Condo, PUD, 2-4 units allowed
  • Primary, second home, and investment
  • Loan amount up to $2.5M
  • Self-employed and salary borrowers
  • Eligible states: California

Questions? Click here to message a mortgage expert, or talk to one live by calling (626) 316-7289.

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Metric Mortgage Corp, a California Corporation Entity #C3736579, Corporate NMLS # 1275482, Individual NMLS License # 322101, BRE License # 01967935. http://www.nmlsconsumeraccess.org/. Licensed for Mortgage, Consumer Finance, Commercial, and Real Estate Transactions in the state California. Metric Mortgage Corp is an Equal Opportunity Lender

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