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A stated-income loan, also known as a no-doc loan, is a type of mortgage where the borrower doesn't have to provide proof of their income, making it easier for self-employed or freelance workers to qualify for a home loan.
31 Ιαν 2023 · A stated income loan is a type of loan where the borrower is only required to state their income rather, than providing actual pay stubs or tax returns as proof. This makes the loan application process much simpler and quicker, when compared to traditional loans.
3 Μαΐ 2024 · What are stated income loans? Stated income loans are mortgages that don’t require borrowers to provide traditional income verification, such as pay stubs, W-2s, or tax returns.
18 Δεκ 2023 · A stated income loan is a loan program that allows you to secure a home loan without verifying your income. Instead, borrowers declare their income, and lenders take at their word rather than presenting their tax returns, W-2s, or pay stubs.
13 Αυγ 2024 · Unlike traditional mortgages that rely on documented income through pay stubs and tax returns, stated income loans take a different approach. Here’s a breakdown of the process: You’ll directly state your income on the mortgage application.
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.
With a stated income loan in L.A., you can simply state how much money you make, decide for yourself what you can afford, and enjoy swift approval on a home loan with competitive rates and friendly terms. Call 310-478-5005 today and let us help you apply for a Los Angeles stated income loan.
