What’s the Truth about Stated Income Loans?
If you are reading this post, then for sure, you are also the one of them who is curious to know about the real truth of stated income commercial loans and their lenders. To get to the bottom of the matter of stated income loans, we have to understand it from the beginning. So, without chewing more long fat, let first start with what are stated income loans. What Are Stated Income Loans? Stated income loans are mortgages for borrowers who want or need to qualify without any standard paperwork like an income certificate. The following categories might have enjoyed the stated income loans: • People with irregular or seasonal income. • People who work with their family members. • Low taxable income self-employees. • Businesses that have been proven profitable beneath two years. • Salaried employee who got an appraisal. Any of these people can fully enjoy the s