Stated Income Mortgages
And No Doc Mortgages

It’s unfortunate that good borrowers are turned down for home loans they deserve simply because they take advantage of tax write offs from their business or can’t document their income due to having a cash-based business or a new business that has a lot of expenses they are allowed to write off.

This can be a frustrating process, especially if you need cash out of your home equity or need to borrow more than 75% of your property’s value. That’s where most banks or lenders stop. All of our Bank Statement and Stated Income Mortgage Programs are designed to go up to 100% of your property’s value and don’t require PMI (mortgage insurance).

Many couples have spouses who stay home, but generate income for the family that may be a cash-based business or be seasonal. However, that income combined with their spouse’s income, may generate enough income per month to qualify for one of our Bank Statement Programs or our Stated Income Mortgage Program.

We realize that you may have other income sources that may not show up on tax returns, a pay stub, or a W-2. Many people who start businesses need at least 3 years of filed tax returns on the business and have to show a profit in order to qualify with most banks or lenders. Other income sources may include second jobs, room rent, or income from hobbies or small outside or home-based businesses. Even if you started your business last month, we can help! *APPYLY HERE*

An advantage of our Stated Income Loan Program is that there are many ways we can get your home loan approved. If you received a 1099 for your income instead of a W-2, most mortgage lenders will require that you provide your tax returns, which after expenses, may not show enough income to qualify you for the home loan you need.

We can use the amount on your 1099 income statement as your actual income and won’t require copies of your tax returns. We simply take the amount on your 1099 and that’s what we use as your income to qualify you for the home loan. You will get the same mortgage rates as if you had W-2’s with the same amounts!

If you don’t receive a 1099 and may not want to show your bank statements, we can simply use any proof that you're in business by using a business license, city license, a letter from your accountant, or any professional license you may have.

We designed a home loan program that is specifically for borrowers who receive or earn alternative sources of income. Our bank statement program and our stated income mortgage program allows borrowers to use their personal or business bank statements to verify their cash flow. Many banks or lenders only look at what is left at the end of every month’s statement. Our program looks at the deposits only, regardless if you may have bounced some checks, or your business tax returns show a loss!

We can use a 12 or 24-month deposit average to give you the credit you deserve for the income that you receive. Another benefit of the program is that you would qualify and receive the same rates that you would receive if you had a W-2 and pay stub showing the same amount!

So, if your tax returns, W-2’s, or pay stubs show little income, but you have other income sources that will help you qualify, ask one of our Credit Managers about our bank statement programs or simply apply online today and reference this program and we’ll be happy to discuss with you the best options available to take advantage of these programs....