| STATED INCOME MORTGAGE |
What Is A Stated Income Mortgage |
A Stated income mortgage loan is helpful when it is difficult to prove ones income. Either the income is derived seasonally as in the case of a business owner, or income is not distributed evenly. One must understand that this does not mean one can state their income incorrectly. It is a federal offense to incorrectly state ones income on an application for credit. A stated income loan generally holds a higher rate of interest than a full documentation mortgage loan. In many cases this is very beneficial to a person that does not have the documentation to support ones income. |
|
HOME NEWS ABOUT US PRODUCTS CALC CONTACT US LINKS APPLICATION RESIDENTIAL COMMERCIAL FIRST TIME BUYER HELOC |