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Stated-Income

Guidelines

Updated January 2018

All stated income loans are dependent on the lender. Not all lenders provide state income loans so it is important to search around for the best one that fits your needs.

Examples of Stated Income Guidelines

Some stated income guideline examples include no ratio, no documentation, no income no asset (NINA), and more. All of the examples can be grouped as “stated income loans”. They are in this group because they all have less than the full documentation that is required for a normal agency backed loan.

Feeling Frustrated by Stated Income Guideline?

If you are feeling frustrated or confused by the different requirements regarding stated income loans, it is okay. Each lender requires different guidelines; the key is to shop around and find what fits best for you. You can also speak with as many lenders who offer a stated income loan and make a comparison sheet on all the different information you’ve been given. This is a great way to find out who offers stated income loans even if the lender you spoke with does not offer these loans, ask them to refer you a lender who has a stated income program.

What To Remember

Just remember the more you shop around the better. Talk with a number of lenders and seek out as much information especially on guidelines and rates to make the right decision. It might come as a shock at how different one lender is from the next, some might be unhappy by your request while others are glad to help. Even though the variety in lenders can be surprising it could also be a great learning experience to get you to the right lender.

Start shopping around today for the right stated income loan lender and you will find the best one for you with a little time and patience.

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