Stated Income Loan
“Stated Income ” has different terms and qualifications by different lenders.
Here at Storehouse Lending, we do Stated Loans the correct way.
We simply require something showing income: A CPA letter, Letter from Employer, Paystub, etc.
We also require proof that the Borrower can repay the loan with income from stable and available source.
While others require mountains of documentation to prove that the borrower does not go over their debt-to-income ratios,
we accept a simple form of proof that verifies your ability to repay the loan.
And No, We do not have set DTI ratio.
Because of how simple our Stated Income program is the whole lending process is less painful
and allows the loan to move through approvals much faster.
For this reason, one can state their income, provide proof of such income
and we can then often close a loan in less than 2 weeks!