what lender still does 100% stated purchase W/a fico above 700 in california?

Answer 1

There are many lenders that will do a 100% stated income, but now you might have to verify assests in order to qualify.

You have to know what you are qualified to purchase.

So the first thing you should do is contact a mortgage broker so you can complete a loan application, after which he will run your credit report.

This credit report will give him your credit score. Get a cup of coffee or your favorite beverage when filling out the loan application this is not a 15 minute chore.
Your credit score will tell him what loan programs you are qualified for as well as the interest rate you can expect. This credit score will tell if you are able to get a 100% loan and if not how much cash you have to bring to the table as your down payment.

There are lots of documents and information the mortgage broker will need. I will give you a few to get you started.

#1 Six months of all bank statements you use currently, as well as any statements from your 401k at your place of employment

#2 One months of pay stubs from all that are going on the mortgage.

#3 Two years of federal income taxes and W-2s

After discussing the best loan program for you and agreeing on the program you want, the mortgage broker will issue you a pre-approval letter.

Now once this has been established you should connect up with a real estate agent to find you a home. Upon finding a home you like the real estate agent will then prepare a sales contract for you and the seller to sign.

The mortgage broker will order an appraisal of the house to prove the value.

Once all the documents necessary has been collected the mortgage broker will order loan docs for the program that you agreed to earlier. Again don't plan on spending a lunch hour there to sign loan docs this is a process so be prepared to be there for awhile.

Don't sign the loan docs if anything change from what the mortgage broker explained to you. Call and get an explanation.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 2

Hello,
It depends on how long you have been employed(stated w2 at least 2 years continuous employment or change of jobs same craft) or self employed(with two years business license). What your profession/craft is deemed reasonable to be stated income and what the purchase price of the property you are looking at. Now my company can easily do it, but everything will be verified to make sure that a quality loan is in favor of all parties involved. Will the seller/builder of the property for sale willing to pay your closing costs? If so you will have to verify reserves in the bank to make sure that you have some payments set aside so that you do not get foreclosed upon early into the loan. If you can answer these questions and are able to demonstrate that you can handle the loan, you have a loan on our side. Thank you and have a blessed & productive day. I hope that I was helpful.

Answer 3

I do. But if you're looking for Wholesale direct lender, email me and I'll give you some names.