Stated Income Mortgage Loans

Stated Income Mortgage Loans are for people who work but don't draw regular wages or salary from an employer, self employed business owners or those who make a living off commissions or tips.  It is a great loan product for those borrowers that don't draw a steady paycheck and/or simply do not want to divulge their earnings.   Stated Income Programs do require that you list your job or if self employed, your business or source of self employment.  You must have a continuous work history of at least 2 years.  With Stated Income Loans you can purchase a home,  even if you are a first time home buyer, a condominium or a vacation property and you can borrow up to 100% financing with a minimum credit score of at least 600.  The interest rate on a Stated Income Mortgage is generally about a half-point above the comparable rate for a conventional mortgage.  Stated Income Loans are available online or you can call our 24 hour loan line to determine your eligibility for a Stated Income Mortgage to purchase a home.