Yes, believe it or not, we still have a Stated Income program available. This is one of the only Stated Income programs available.

Stated Income loans to $3,000,000 and 70% loan to value. That is unbelievable. The loan program can either be a 3 or 5 year fixed, and interest only payment are possible. This program is not for a "wage earner" or someone employed in the real estate industry. (That even leaves me out.) To qualify, a borrower must have a FICO score of at least 700 and be self employed. They also must have 6 months of their "stated" income in the bank after the close of escrow. Another words, this program is possible only for a very solid borrower, which is what "Stated Income" loans were always meant for anyway.

The program does allow cross collateralization, which means that if it will make the deal more solid, the loan can be recorded against more than one property in order to get it closed.

This is a great program for a move up buyer purchasing a home in Orange County, especially cities like, Newport Beach, Irvine, Laguna Beach, Huntington Beach, Corona Del Mar, Balboa, Yorba Linda, Laguna Niguel, Aliso Viejo, San Juan Capistrano, or San Clemente. We can even close within 30 days.

For more information on this program, please contact Tim Storm at (877) 786-4243 x 7. My office is located in Irvine, CA near the airport. We offer a few other portfolio Jumbo Loan products as well.