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Advantages Of The Stated Income Loans To Prospective Home Owners
Total Articles: 9
The housing crisis, the state of the economy, and your income affects the bank’s approval for your mortgage application. As a person earning little money, your chances of owning a home are lowered with every application rejected by a home mortgage brokerage firm.
Fortunately, there is a mortgage broker Vancouver who understands your status and they will take your word for it. With the high number of rejected and discontinued home ownership options for low income households, the stated income loans are important and effective in the following ways:
1. You will get a home loan
This is obvious since we are talking of stated incomes. With the help of a mortgage specialist Vancouver, you will be taken through the available loan options, you will give out information about your income, and the bank will use the information gathered to underwrite a loan. Mortgage rates Vancouver are reasonable.
2. Online applications
Vancouver home mortgage applications can be done online. You can send several applications once, and you will get different loan offers and by different private lenders Vancouver. These lenders will help you change your application.
Wondering how secure your information will be online. Well, the mortgage brokers in Vancouver have involved developers and security analysts that keep the servers safe always.
3. No Paperwork
Home equity loan Vancouver is different because you are exempted by filling in mountains of paper work before review of the mortgage application. Stated income loans do not require documents to verify. Basically, you don’t need bank statements, tax returns, or to pay stubs to prove your income. Your word is your bond and you can easily get the best mortgage rates Vancouver.
4. Safety of your property
The stated income loan is trusted by the mortgage firm. Once you contact them, they will help you refinance the mortgage. Besides refinancing, you may also apply for a debt consolidation loan facility from leading debt consolidation Vancouver firms. This can increase your cash flows by managing your debt.
5. You can apply any time
There are no restrictions to when you can apply for the stated income loan. A second mortgage broker Vancouver is a few clicks away or a call away. Anyone in your family can apply for the free stated income loan.
In conclusion, this loan facility allows you to state your income and a loan facility will be availed to you. There are other financial products for persons who find themselves under water on their mortgages.
The author has been working as an experienced mortgage broker in Vancouver. In this article, he speaks about the advantages of the stated income loans to prospective home owners. For more details, visit http://mortgagebrokerbc.com
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