Homeplus Mortgages Re-introduces the Stated Income Loan
San Diego, CA (PRWEB) June 30, 2014
Remember when it was easy to get a mortgage? For several years now mortgage lenders have been cracking down on applicants making it extremely difficult for aspiring homeowners to acquire loans in order to purchase a home. For individuals with fluid monthly incomes, new job placements or unique financial circumstances it has become nearly impossible to acquire home loans because of new legislation that was introduced in 2007 restricting Stated Income lending. During the most recent recession and recovery period banks and other lenders have become skeptical about lending money to anyone without verified pay stubs, income tax returns, and duplicate records. This has added to the frustration that many people experience when attempting to purchase a house in the San Diego Area.
Homeplus Mortgage, one of the leading mortgage lenders in San Diego and surrounding regions recognized this problem and have been advocating return Stated Income Loans to the selection of services that they offer. This is because in certain situations clients do not have the ability to verify their income using these traditional means. For instance clients who are purchasing their home using money that they have received through inheritance, new immigrants, or home buyers who are self employed will not have the paperwork that is required to verify their income qualifications. However, in most cases this does not reflect the homebuyer’s ability to make regular mortgage payments.
After looking at extensive track record evidence the experts at Homeplus Mortgages have confirmed that Stated Income Lending is no higher risk then other lending methods. In fact, Homeplus Mortgage feels confident that when handled by their knowledgeable mortgage brokers stated income lending is an appropriate solution for clients who are looking into purchasing a home and have not been able to find financing through their own bank.
Stated Income Loans, typically do not require a letter of employment or the delivery of pay stubs. Making it an ideal lending solution for clients who cannot produce these papers.
By making Stated Income Loans available once more, Homeplus Mortgages in San Diego are doing their part to help families stop renting and become homeowners. With the assistance of their experienced brokers Homeplus carefully examines each clients portfolio in order to make sure that they are appropriate candidates for a mortgage loan. They also provide competitive interest rates and fair fees to guarantee that homeowners are satisfied with their lending rate and customer service. It comes to no surprise that Homeplus continues to be one of the leading alternative mortgage lenders in the United States because of their dedication to customer satisfaction and no-hassle mortgage lending.
As of July 2014, Stated Income Loans will once again be available through Homeplus Mortgages for new clients who are unable to produce proof-of-income when they apply for a mortgage in San Diego.