Stated Income Loans in 2016: Yes, They Are Coming Back

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Just a few years ago, stated income loans were very popular and there were plenty of stated income lenders who had flexible guidelines and low stated income rates. Then the credit crisis hit and lenders began pulling their stated income mortgage programs. As lenders began to stop offering stated income loans, many small business owners… [Read More]

Reasons for stated income loans

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These loans are nominally intended for self-employed borrowers, or other borrowers who might have difficulty documenting their income. Stated income loans have been extended to customers with a wide range of credit histories, including subprime borrowers. Stated income loans fill a gap of situations which normal loan standards would not approve. For example, a standard… [Read More]