Stated Income Program
Stated Income Loan ProgramThe Stated Income Loan Program is designed for borrowers who have non-traditional, variable, or complex income and may not qualify using standard full documentation. Instead of providing full tax returns or W-2s, borrowers state their income, which is evaluated alongside other key factors such as credit profile, assets, reserves, and overall financial strength.This program is commonly used by self-employed individuals, business owners, consultants, and investors.
Who Is a Stated Income Loan For? This program may be a good fit if you: Are self-employed or a business owner. Earn income through 1099s or multiple sources. Have strong cash flow but significant tax deductions. Prefer a simplified documentation process. Have solid credit and financial reserves
How Stated Income Loans
Work Income is stated by the borrower rather than fully documented Lenders focus on: Credit score and credit history Assets and reserves Property type and loan structure No W-2s or full tax returns required (program dependent)Available for purchase and refinance
Key Benefits
Reduced income documentation. Faster and simpler qualification process. Flexible underwriting guidelines. Available for primary residences, second homes, and investment properties. Ideal for borrowers with complex income structures
What to Expect Stated Income loans typically: Require higher down payment. Require strong credit and reserves. Have different rates and terms compared to conventional loans. Are offered through specialized lenders. These programs are designed to provide financing solutions when traditional loans are not the right fit.