A stated income loan is a mortgage where the lender does not verify the borrower’s income by looking at their pay stubs, W-2 (employee income) forms, income tax returns, or other records. Instead, borrowers are simply asked to state their income, and taken at their word. These loans are sometimes called liar loans.
These loans are not currently available, however Bank Statement Loans are. Call Steve today at: (719) 266-5500 to discover what kind of loan is perfect for you!