Bank wants income tax forms, is this still a stated income Mortgage?

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I am applying for a stated income mortgage. The bank wants my tax return for 2006 because now I am self-employed. Is this loan stated or now full doc? I will be charged 2% more in interest for a comparible full doc loan. For 2006, I lived abroad and had a part time job while I went to school. My other income comes from renting a multi-unit building which I am looking for refinancing and also yearly gift money. Also, how long do I have to live in this building for it to be eligible for a stated income or full doc mortgage? I've own the place for 5 yrs but last year was in another country. It is still my residence in the states during this time. I have no other apartment or home that I live in. Thanks for any help.

Bank wants income tax forms, is this still a stated income Mortgage?

That's a full doc loan. They are probably asking for it, because 680 is the normal cut off for stated income conforming loans, but check with your lender.

Bank wants income tax forms, is this still a stated income Mortgage?

no it is not a stated income loan any proof of income presented to the bank will reject your loan as stated and change it to full doc. change bank my friend you are getting the run around and theywill close under their conditions if you cotinue getanother bank and start again

Bank wants income tax forms, is this still a stated income Mortgage?

More than likely your credit record doesn't support a stated income loan. That's why they're asking for proof of income.

BTW, a full doc loan will be LESS expenseive than a no-doc loan as it is LESS risky for the lender.

Bank wants income tax forms, is this still a stated income Mortgage?

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