The No Income Verification/Stated Income Program is sometimes preferred by the self-employed since it can be a complicated and time consuming process to show their income. In this program, borrower does not need to show proof of his/her income but must be a self employed for atleast last two years.
At this time, although most of the banks and lenders have cancelled this program but we are still offering this program. It is for prime residence and second home only.
To qualify for this program, there is a 35% minimum down payment requirement. Three months’ personal (not business) banks statements (checking, savings, CD’s, money market) are required to show liquid assets which should cover down payment, closing cost and 6 months of PITI (principal, interest, taxes and insurance). Assets must be seasoned in atleast two months bank statements.
If you have any question, please contact us at (908) 279-7878 or e-mail: info@equitynj.com