No Income Verification and Stated Income Mortgage Loans in New Jersey

July 2, 2012 - PRLog -- Many borrowers believe these programs are no longer available.  That is not the case.  Robert Bornstein of Absolute Home Mortgage Corp in NJ, has No Income Verification programs as well as Stated Income Mortgage loans in the State of New Jersey.  Robert can be reached in NJ directly at 732-207-8409 or via e-mail at rbornstein@ahmcloans.com.  More details are also available at his web site http://www.statedincomeloansnj.com .

Basically, these mortgage programs have one thing in common, they require significant equity in the property you are purchasing or refinancing.  The maximum Loan to Value (or LTV) on a Stated Income Loan is 65% depending on the loan amount.  The No Income Verification Mortgage Loan has a maximum Loan to Value of 60%.  The borrowers credit history should be adequate to justify this type of Loan and should be good to excellent.  

For Primary residences and 2nd Homes, the interest rates and APR's are only slightly higher than Full Income Documentation mortgages.  Visit http://www.statedincomeloansnj.com or call Robert Bornstein at 732-207-8409

Most program guidelines allow for the owner of a home to refinance and actually take cash-out of the new mortgage loan, up to the maximum LTV or cash-out limit..  Sometimes a borrower chooses to payoff higher interest debt.  The Stated Income loan is designed for & is very popular with Self-Employed borrowers.  The Stated Income program does require the borrower to have adequate reserves.   The No Income Verification program does have some more flexible requirements..  In either case, all funds must be the borrowers and not be derived from gifts etc.  

All programs are for qualified borrowers and terms and conditions may change with no advance notice.  Absolute Home Mortgage Corp  is NJ licensed lender 9826392, NMLS# 176743 and is based 279 Browertown Rd, West Paterson NJ 07424    Robert Bornstein, Licensed Mortgage Originator, NMLS# 228572 can be reached at 732-207-8409 or Robert@ahmcloans.com

The Stated Income program is not committed by Absolute Home Mortgage Corp, arranged through 3rd parties.  Contact our office for complete guidelines.