A Stated Income Loan is when a mortgage in which the lender does not verify the borrower’s income and instead takes them at their word. These loans are a step above hard money loans and offer a quick loan process.

Typical Items Needed for a Stated Income Loan:

  • Loan Application
  • Borrower Authorization
  • Bank Statements
  • Picture ID
  • Proof of Income Form W2
  • Income Tax
  • Loan Submission Form
  • Home Owners Insurance
  • Mortgage Statement for Payoff Information
  • Purchase Agreement (Contract)

If Property is Leased/Rented:

  • Lease agreement

If Corporation:

  • Articles of Incorporation
  • Bylaws
  • Statement of Information
  • Form W9


  • Articles of Organization
  • Statement of Information
  • Form W9

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