SoCal Mortgage is now offering Stated Income Loans  for purchase and refinance. Almost any commercial property is eligable, including apartments, retail, industrial, auto repair (no gas stations). Also Stated Income can be used for Investor 1 to 4's.

Stated Income is very useful for borrowers that cannot verify their income. No Tax Returns are required. This is a fully amortized loan over 30 years. The interest rate is fixed for a period of 3 to 5 years.

In addition to no Tax Returns, there is also no employment verification and no bank deposits verified. Minimum FICO credit scores and minimum loan-to-values are required. This is an excellent loan for some self-employed property owners.

Loan Amounts: $150,000 up to $2,000,000

Term: 30 years fully amortized

Rate: Fixed for 3 to 5 years, remainder of the term loan becomes adjustable

start at 6.99%