Stated Income Loans

No income verification investor loans in 40 states

A "Stated Income Loan" is a loan program that does not require borrowers to document their source of income with pay stubs, 1099s, or 1040 tax returns to the lender although they declare it on their application.

Borrowers simply state their income on the loan application and underwriters will review the file based on the borrower's credit score, assets, bank statements, and occupation type. Some lenders refer to this loan type as a No Income Verification Loan (NIV).

stated income loan california

EXAMPLE - let's say an owner-occupant applies for this "low doc" loan. They can purchase a $1,000,000 home with 25-percent down or refinance a $1.3 million single family residence with 30-percent equity and subject to approval by underwriting.

loan availability   Are These Loans Available in My State?
  This loan is available for primary residences in major metropolitan areas such as Los Angeles, Orange County, San Diego, Santa Barbara, San Jose, Sacramento, and San Francisco as well as Orange and Riverside counties. California and also in Colorado, Florida, and Texas.

BORROWER MUST BE:

ADDITIONAL REQUIREMENTS:

CREDIT Requirements:
— In summary, you need to have great credit for the last 5 years which includes a mortgage for 2 years.

Owner Occupied Property Transactions:

75% financing on Purchases

70% financing on Refinancing

LOAN Terms

Apply Now


Last updated Dec. 2023. Under this program the borrower(s) does not submit IRS form 4506-T to the lender so no copies of your filed tax returns or transcripts are provided.


Alternatives to Stated Income

If you are NOT eligible for the program above, see if you qualify for the 12- or 24-months of bank statements mortgage program where no tax returns and no 4506-T forms are needed.

If your income is low on your 1040's 2 years ago, but this past year it is higher, see if you qualify for the 1 Year Tax Return where the lender only reviews a copy of your most recent filed tax year. (click here)

Finance your 1-4 unit Investment Property without your job or income disclosed.
Qualify based on income of subject property
(click here and go to "investors" tab)


no tax return mortgage


 

NOTE: The terms and conditions are not flexible. If you dont'meet these conditions, you should look into the bank statement program.

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* NOTE: Loan programs are subject to change without notice. We are not a lender. We simply display popular loan programs that mortgage companies are utilizing in the ALT-A market.

Related Information
Fed’s statement on Subprime Mortgage Lending and the impending problems it creates.

find a commercial mortgage
Find a Commercial Mortgage without income documentation for your cash flow generating property such as an apartment building, office building, and retail properties.

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