Many people have inquired about the ability to do Stated Income Loans in Nevada due to the recent Assembly Bill 440 that was passed and went into effect on October 1, 2007.
The answer is Yes I can still Stated Income Loans in Henderson, Las Vegas, and all of Nevada!
Just to clarify, Five Star Mortgage, a Henderson & Las Vegas, NV Mortgage Broker is still funding Stated Income Loans through several of our Mortgage Banks. We do have a couple of new procedures that we are required to go through in order to do so. These new procedures involve the same due diligence that any experienced Nevada Loan Officer did before Assembly Bill 440 was passed.
The fact remains that many Nevada residents, especially in the Las Vegas & Henderson area, rely on Stated Income Loans in order to purchase a home or refinance their existing mortgage.
If you have questions about Las Vegas Stated Income Loans or need assistance with any type of Nevada Mortgage feel free to contact me so I can help.
Your mortgage partner for life,
Rey "Steak Dinner" Gallegos
Las Vegas Home Loan Call me today at 702-808-8328 or visit my website www.4NevadaHomeLoans.com FHA Loans Las Vegas & VA Loans Las Vegas Conventional Loans, Purchase or Refinance Yo Hablo Espanol
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Thanks for this info Rey! Stated income loans here are very important! Hopefully I can bring you one to work soon. Also, not ignoring your e-mail...I've been out of town for a week. I think it's a good idea and will do some work on my website soon.
Glad to learn that the stated income loan is still a viable option. It was abused, but is still a great product if used responsibly. Best regards and happy Monday.
I talked to a friend in Phoenix and her husband is upset that he cannot orginate a stated income loan. We will leave this type of stuff to the real professionals such as yourself Rey! Just the same as Mary, not ignoring you, in-laws were in town this weekend! Had everything in draft mode :)
Mary: Stated Income done correctly is a good loan. The abuse of it is what has made it a target. I look forward to working one for you!
Keith: It is still a very viable option with a solid FICO score.
Renee: No problemo! Take care of the in-laws! I am not going anywhere!
Of ALL the place to get rid of stated income loans!!! Las Vegas DEPENDS on these loans....Dealers, waiters, waitresses, bartenders, dancers, valet...the list goes on and on there!!