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• About Us  • View Testimonials  • Construction Programs  • Construction rates  • Comparing Options  - Loan offers from different    banks  -Construction cost estimates  -Building new or remodeling    VS buying an existing home  -Being my own contractor   VS using a general contractor  - Get Answers  • Educational Resources  - ABC's of Construction    Financing  - Stick-Frame Home    Information  - Log/Timber-Frame Home    Information  - Modular Home    Information  - Lending Dictionary  - Construction Dictionary  • Bank  - Refer a customer for a    construction loan  - Learn more about    construction loans  - Receive consultation on setting    up our own construction    loan program(s)  - Get added to the Construction     Advisors network of lenders  - Get Answers  • Contact US   Stated Income Mortgage Loans This resources provides basic information about Stated Income Mortgage Loans, including: What Is a Stated Income Mortgage Loan? How Does a Stated Mortgage Income Loan Work? Do Stated Mortgage Income Loans have Higher Rates? What Is a Stated Income Mortgage Loan? A stated income loan is for borrowers who do not wish to provide income documentation (W-2's, tax returns, etc.) to get approved for a loan. Stated Income Loans are typically used for small business owners, independent contractors, commissioned sales people and others who do not have the required two years of documented income to qualify for a new mortgage. How Does a Stated Mortgage Income Loan Work? The borrower simply states his or her income on the loan application for the current and previous years. The income is not verified by W-2's, tax returns or any other method. As long as you meet the loans criteria for credit score, debt to income ratio (DTI) and down payment, then the process is pretty quick and easy. Do Stated Mortgage Income Loans have Higher Rates? Not typically. As long as you meet the lenders minimum requirements for credit score, Debt-To-Income, down payment and other factors, you should not see any higher rate or fees for stated income loan programs. Experience the Construction Advisors difference today —Contact Us to get started!

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