TYPES OF LOANS WE FUND FOR OUR BORROWERS
Prior to offering a loan to a Borrower, we take into consideration the Borrower’s income. The income is divided into two sources:
This is the easiest type of income to consider when providing a loan. We requires the these two:
- Two year W2’s
- A recent Paycheck Stub
We calculate the monthly income of the Borrower on the basis of two year W2’s and paycheck stub. The Borrower should borne in mind that there is no necessity to provide a two years full history of income to qualify if some part of the income is from overtime payment, commission or bonus.
We ask for 2 years tax returns and Profit & Loss statement to calculate the income. Unlike the Big Banks where the Borrower is constrained by government regulation, we make the loan approval process simpler. We only demand from our Borrower to ‘’State their income’’. Then we approve their loan as ‘’Stated Income’’ loan. We are, however, aware that our Borrower’s income documentation does not show up the total amount of income generated and received by our Borrowers.
Talk to our credit counsellors by calling at (888) 797-7970 to know how the income will be calculated on the basis of the loan that you seek from us.
Do you have a credit history? Do you have current credit issues? You are at the right doorstep to seek loans despite the credit problems you are dealing with. Our Hard Money Borrowers Program underlines the easy processes and steps of seeking loan from us irrespective of credit setbacks, foreclosure situations or bankruptcy issues.