Stated Income SFR Investment Property – Update
At Velocity Commercial Funding, we are constantly looking for ways to expand our Staten Income program guidelines and most of our partners know that lending on SFR ( single family residences) is almost impossible.
With that being said we have an update on ONE of our stated income programs which is that a potential buyer must own a primary residence and one other property. Also, the subject property can’t be worth significantly more than primary residence. This gives us the ability to make sure that the property in question is an investment property and not a primary residence since lending on primary residence is prohibited.
For more information contact us at 800–984-6830 or email us here.