1.
Stated Asset Loans
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2.
Stated Asset Loans Are Back
Stated asset loans were quite the popular mortgage
program a few short years ago and stated asset lenders
were much more commonly available than they are today.
The lenders offered flexible guidelines and low stated
asset rates, unfortunately after the credit crisis the
lenders were quick to get rid of the stated asset programs.
Stated asset loan programs has helped borrowers who had
unique situations or difficulties getting approved for
other loan programs. This loan program is highly popular
for small business owners.
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LENDER HOTLINE: 888-581-5008

3.
Stated Asset Loans are popular and a favorite loan option for
many. Here are a few examples of borrowers that may consider
getting a stated asset loan:
Someone who works primarily with commission based salaries.
These types of borrowers may have a low salary base in
general, but they make most of their earnings by commission.
Self-employed people or those who own a small business
Someone who is unable to provide income documentation for
the past 2 years.
Individuals who make a good amount of money but wish to not
disclose their income information.
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4.
In 2016, Guidelines Vary By Lender
Now that stated asset loans are being offered by lenders again,
borrowers can take advantage of the loan program by using it
to help get refinanced on their current home or to buy a new
home. The guidelines are always going to vary by lenders.
Usually lenders will establish a stated asset product and then
build their guidelines around it. Some of these stated asset
programs have been known as;
Low Doc
No Doc
SISA
NINA
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5.
Stated Asset Lenders
Every lender is different and not all lenders offer stated
asset loan programs. Majority of loan officers know that
stated asset loans can help small business owners get into
a home. Stated asset lenders are typically with smaller
companies and a stated asset loan is usually not offered by
the bigger lenders. Lenders who do offer this program
attract good business and in the long run creates a
beneficial result for both the lender and
borrower. Stated asset loan programs will vary based on
the guidelines set by the lenders. This is why it’s
important to shop around and compare lenders, so you can
find the best lender and deal to fit your specific situation.
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LENDER HOTLINE: 888-581-5008

6.
Stated Asset Interest Rates
Much like the guidelines, stated asset interest rates will
most likely vary depending on the lender. Usually stated
asset loans have higher interest rates than a more
traditional FHA home loan. Stated asset loans carry a
premium and they are usually quite competitive.
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LENDER HOTLINE: 888-581-5008

7.
Frequently Asked
Questions
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8.
What is a SIVA loan?
Stated Income Verified Asset or known by its
short name SIVA, is a type of loan that allows you
to state (rather than providing your pay stubs)
your gross monthly income. This loan will require
that the lender confirm your assets, which is
usually done by providing your lender with your
bank statements, or other documentation that
can efficiently verify your claimed assets on the
loan application.
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LENDER HOTLINE: 888-581-5008

9.
What is a SISA loan?
Stated Income Stated Assets or SISA, is a loan
that has some restrictions, but will allow you to
state (rather than provide documentation) your
income and assets. This means that you will not
have to verify assets or your income like you
would with a SIVA loan.
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LENDER HOTLINE: 888-581-5008

10.
What is a No Doc loan?
Depending on your lender, a “no doc” loan
program does not require you to verify any
asset or income information other than just
your citizenship.
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LENDER HOTLINE: 888-581-5008

11.
What if my income is too high, can I be declined?
Yes, it is a possibility that your loan could be declined due to
your income isn’t matching up to your job title and
description. For example, if you’re a waitress but claim you’re
making $60,000 monthly, the underwriter on the loan is
going to question and take another look at your file. Every
job has a median pay range depending on location and other
factors, Underwriters can use resources that allow them to
see the pay range for specific job titles and descriptions.
Even though they are not always exact or accurate,
underwriters are usually in the right ballpark.**There is a
possibility that an underwriter your lender may require you
to fill out an IRS Form 4506. This will allow the lender to
request from the IRS verification of your tax returns for
the most recent past 2 years.
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LENDER HOTLINE: 888-581-5008

12.
Is there a minimum credit score?
The minimum credit score requirement will depend on
your lender and will vary by lenders and by loan
programs, be sure to shop around to find the right
lender who can work with your situation.
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LENDER HOTLINE: 888-581-5008

13.
Is there a minimum down payment required?
The minimum down payment requirements will vary
depending on the lender and program, but keep in
mind stated asset programs usually require a higher
down payment than conventional loans.
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LENDER HOTLINE: 888-581-5008

14.
Getting the Best Deal
To find the best deal when looking into a stated asset loan
will require quite a bit of shopping around. Not all lenders
offer stated asset loans and the ones who do usually only
offer select products. You may find multiple lenders who
offer the same programs, but not always the right program
for your situation. Finding the right lender for you and your
situation can’t get much easier than starting right here. It’s
fast and easy, just submit your information and we do all the
hard work for you and find you the best lender that matches
your situation. Did we mention it’s free?
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15.
T O L E A R N M O R E
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C L IC K HE R E
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16.
Justin McHood is Americas Mortgage
Commentator and has been providing
Mortgage commentary for over 10 years.
Mortgage Commentator
INFORMATION PROVIDED BY:
Justin McHood
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17.
LEARN MORE ABOUT MORTGAGE COMMENTATOR:
MORTGAGECOMMENTATOR.COM
@MORTGAGECOM_
FACEBOOK.COM/MORTGAGECOMMENTATOR
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