Stated Income Is Back

   I spoke with Michael Gillett of MN Capital, Inc. and I was suppressed to here that stated income mortgages are once again available.  Gillett indicated that the stated program is only available to self-employed borrowers but does offer reasonable terms when compared to a traditional Fannie Mae or Freddie Mac mortgage.  Gillett went on to say the program is only offered as an adjustable rate mortgage with 5 and 7 year fixed terms with loan amounts up to 2 million.  Gillett also indicated that they offer other borrower friendly mortgage programs such as 12 month bank statement and asset depletion programs.  These programs are available for both wage earners and self-employed borrowers.  For additional information Michael Gillett and be reached at 800-961-6123 

   

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