Stated income loans have a bad reputation due to their abuse that contributed to the housing crash. The backlash from the Dodd-Frank Act to do away with these alternative loan types left non-traditional homebuyers without any options, which is really unfair. Not everyone fits into cookie cutter guidelines. Hardworking self-employed people and investors who risk their own capital should not be penalized for the bad actions of a few! Recognizing the gap in the market, some banks and lenders decided to restructure the programs and provide these loan types again within Dodd-Frank rules. These are not the toxic “liar loans” from years past, they are fully compliant with federal law so that both the borrower and lender are protected.

Recent Posts
Call Now Button