vision one Home Loans > Stated Income Loan

Stated Income Loan

Stated Income Loan

Applying for a mortgage can feel like running through a never-ending obstacle course. It’s challenging enough to qualify for mortgage on your own, and self employment adds even more uncertainty to the task of proving your income. However, there is something that you can do to save yourself a lot of time and effort. Borrowers can seek stated income loans even without proof of income to support their declarations. 
 
With a stated income loan, the lending institution does not need to examine the borrower’s financial documents, bank records, forms or proof of work salary, income tax returns, or other evidence typically required to verify their cash flow. There’s no need to check or request any proof of income for this type of loan, either. Instead, banks and other commercial lenders just need to know the borrower’s “stated income,” which drastically cuts down on the necessary paperwork. 
 
While stated income loans got some bad press during the financial crisis of 2008 due to lenient approval standards, the newest iteration of this kind of mortgage is still accessible for borrowers looking to acquire investment homes. Because of this, home owners and real estate owners can still apply for a stated income mortgage even if they don’t have a lot of evidence to prove their income.

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Although stated income loans are not easily accessible to self-employed property buyers, there are still some options available. After all, these loans were originally designed to assist self-employed individuals who have had a difficult time obtaining conventional mortgages because of their unpredictable earnings. 
 
At Vision One Home Loans, we work to ensure that all of our clients can make their real estate dreams into a reality, whether they work a 9-5, run a family business, or are otherwise self-employed. Our finance experts and mortgage brokers are well-equipped with the knowledge needed to negotiate with financial institutions, which means less stress and better chances of success on your end. If you don’t have all the necessary financial documents, don’t worry — we will do our best to get your mortgage approved. Contact us today to find out how. 

  • The president of the company has been in the mortgage industry over 16 years and decided to open Vision One Home Loans in 2019 in order to offer tailored and exclusive mortgage loan programs to his clients.

  • We take a wholesale approach to retail lending. We offer different type of loan program that work for you. in many cases better loan options and programs with better rates. We stay competitive and monitor the markets on a daily basis.

  • We speak fluently in Spanish and English

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$1000 $40000
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