About Carteret Mortgage      Apply Online          

Welcome
to Carteret Mortgage!
 Your source for consumer information  

 

Live chat by Boldchat

Option Arms

Construction/Perm

Interest Only Mortgage


Commercial Loans

   
Real Estate Investor


Refinance

Stated Income Home Equity Loans                                                                                                                             

Stated income home equity loans have 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 verification is not required. You incur interest costs only on the money taken out. Interest only Home Equity Loans will lower your payment. For difficult to verify income, stated income Home Equity Loans are available. Home Equity Loans with no closing costs are available as well. I also offer stated income business equipment leasing to business owners.

A major advantage of stated income home equity loans are that your interest costs are generally tax deductible. A comparison between the after tax costs of home equity loans 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 loan 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 Stated Income Home Equity Loans

• Debt Consolidation Stated Income Home Equity Loans. 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 loans closing costs

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.

I hope the information on this page was useful to you. Please scroll down to view my Mortgage Market Guide. It is a weekly publication explaining the financial markets from a consumer's perspective that is available on this website or by email subscription. I have nearly 8,000 subscribers today and would be happy to have you as well. Your email address will never be used for any other purpose.

Prequalify for your Stated Income Home Equity Loans