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Stated Income Home Equity Line of Credit                                                                                                                             

A stated income home equity line of credit has a floating interest rate tied to the Prime Rate and allow you to take home equity out of a property with reduced documentation. We verify employment and assets but traditional income is simply stated on the application and verification is not required. You incur interest costs only on the money taken out. An interest only Stated Income Home Equity Line of credit will lower your payment. Stated Income Home Equity Line of Credit with no closing costs are available as well. I also offer stated income business equipment leasing to business owners.

A major advantage of a stated income home equity line of credit is that your interest costs are generally tax deductible. A comparison between the after tax costs of a home equity line of credit and any consumer loans should be done before any major purchase. Please give me a call if you need help with the calculation.

We can lend up to 100% of the value of your home but understand that the interest rate will be somewhat higher if your stated income home equity line of credit is over 90%(combined first trust and home equity loans) of the value of the property. We will allow up to a 50% Debt to Income ratio (DTI) with good credit.

Common uses of a Stated Income Home Equity Line of Credit

  • Debt Consolidation Stated Income Home Equity Line of Credit. If your consumer debt is too much you may dramatically reduce your monthly payments. See the calculator below for an idea of how much you could save.

  • Finance a Major Purchase. If a new car or boat is in your future, you may want to compare payments.

  • Children's Education. Many people find home equity loans the most logical way to pay for their children's education. Exactly what I did when my son went to college and I saved a lot of money compared to any other option.

  • Property Purchase. If you are considering either an investment in income producing real estate or a vacation home, it may make more sense to unlock the equity in your home rather than move the cash from other investments which are doing well for you. Please see my pages on Investment Property or Vacation Homes for more information.

Learn more about stated income home equity line of credit closing costs

Learn about the differences between home equity loans and lines

I have included a page on how to calculate your qualification ratios.

I have included a page on documentation requirements.

Wet offer you the ability to qualify and close into several stated income home equity loans which accommodate borrowers with non traditional income or asset situations. 

* I have included a section on the new Cash Flow ARMS. A LIBOR based product which gives you complete flexibility in managing your mortgage.

The new Asset Manager is a creative product which gives you complete control over your mortgage as well.

As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your consumer and mortgage debt is structured today can have a life changing effect in the years to come.  Read more about this free, no obligation service.

Stated Income Home Equity Line of CreditPrequalify for your Stated Income Home Equity Line of Credit


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Extensive consumer information on construction,remodeling, first time homebuyer,and no documentation mortgages.