Stated Income Loan Assistance

Due to current mortgage market conditions, almost every mortgage investor in the industry has discontinued their stated income and reduced documentation programs.  Fannie Mae and Freddie Mac even had reduced documentation programs that were effectively stated income loans for the right scenario, however those are ending in December of 2008.  AAXA still has access to a limited number of programs for borrowers with good credit that allow for reduced documentation.  Unfortunately, the requirements can be fairly restrictive and subject to change.  The factors considered include credit scores, down payment or equity position, amount of assets, and employment status.  You will need to speak directly with an AAXA Loan Advisor to determine if you qualify.  The remaining stated income programs in the market are placing a higher risk premium (interest rate) on these loans than we have seen in the last few years.  Rest assured your AAXA loan advisor will seek the best program available.