Work Hard Mortgage

Stated Income & Stated Asset Loans

To 75% LTV

A stated income loan is a mortgage where the lender does not verify the borrower’s income by looking at their pay stubs, W-2 (employee income) forms, income tax returns, or other records. Instead, borrowers are simply asked to state their income, and taken at their word. This loan is traditionally used for self-employed borrowers or borrowers who have trouble providing full documentation.

Who Can Qualify

Must be 18 years or older
U.S. Citizens
Green Card Holders (non U.S. Citizen)
H-1B Visa & EAD Card Holders (non U.S. Citizen)

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LOAN DETAILS:

When the banks say “No”, the hard money lenders can still say “Yes”.

CRITERIA	PORTFOLIO 1	PORTFOLIO 2	PORTFOLIO 3
TERM	7/1 ARM	7/1 ARM	NO U.S. CREDIT SCORE REQUIRED
CREDIT SCORE	700 FICO	680 FICO	NO DTI RATIO
LTV	60% MAX LTV	70% MAX LTV	UP TO 75% LTV
EMPLOYMENT	W2 / SELF EMPLOYED	W2 / SELF EMPLOYED	W2 / SELF EMPLOYED
PROPERTY TYPE	PRIMARY/ 2ND HOME / INVESTMENT / 2-4 UNITS	PRIMARY/ 2ND HOME / INVESTMENT / 2-4 UNITS	PRIMARY/ 2ND HOME / INVESTMENT / 2-4 UNITS
LOAN AMOUNT	MIN LOAN : $100,000 MAX LOAN: $2.5 MILLION	MIN LOAN : $100,000 MAX LOAN: $2.5 MILLION	MIN LOAN : $100,000 MAX LOAN: $5 MILLION
LOAN PURPOSE	PURCHASE / REFI / CASHOUT	PURCHASE /REFI / CASHOUT	PURCHASE / REFI / CASHOUT
DTI	43% MAX DTI	43% MAX DTI	45% MAX DTI
RESERVES	12 MONTHS RESERVES	12 MONTHS RESERVES	12 MONTHS RESERVES
PRE-PAY PENALTY	PRE-PAY PENALTY - 24 MONTHS	PRE-PAY PENALTY - 24 MONTHS	PRE-PAY PENALTY - 48 MONTHS
STATES	CA ONLY	CA ONLY	CA, FL, TX, OR, CO

Ready to Apply? Let’s Get Started.

If you’re ready to take the next step, you can start your application now. It’s quick, secure, and gives us the info we need to help you move forward.

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