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True Stated Loans: Do They Exist?

· stated,income verification,no tax returns

Self employed business owners have a lot of write offs.  So much so that tax returns a solid majority of the time will not allow them to qualify for a loan, even though they've got plenty of money in the bank.  If this is you, don't worry, there is a bank statement program we can help with here.  Bank statements don't show income you say?  In that case, you need a true no income verification loan.  But does that even exist anymore?  Weren't they a staple of the housing bubble era?  The good news is there are some private equity firms that still can get it done.  Here's what you're going to need:

* 650 FICO score

* 25% equity or down payment

* Business license or letter from accountant showing two years self employment

* Investment properties only

* 620 FICO okay with 50% equity

* BK: Okay 1 day after discharge

Hope that helps. Feel free to contact me if you have any questions at 949.667.2887 or info@hightouchlending.com.

- Brian Nguyen is a senior loan consultant (NMLS 659743) who learned more about this stuff than he ever intended to. The opinions expressed here are solely his own.

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