Stated Income Loans are back! Just in time for Halloween

Stated Income Loans are back! Just in time for Halloween

Well, just in time for Halloween – something scary for all of you who remember our recent history – Sated Income Loans are back!  You may remember that a stated income loan allows one to qualify by simply “stating” their income on a loan application rather than actually proving their income.  This is extremely useful for self employed or business owners as their total income isn’t always accurately reflected on things like paystubs and tax returns.  So in a way, this loan product is not scary on it’s own.

However, it does easily lend itself to abuse.  For example, when one uses a Stated Income Loan to qualify for more than they can realistically afford.  To see implications of that we only need to go back about 5-6 years.  Artificially qualification helped spark a huge run up in home values.  These values and payments were not realistic.  So people lost their homes and values plummeted.

Assuming that banks have learned their lesson, I hope that this wouldn’t happen again.  The use of this loan can be very beneficial when used responsibly.  If you’d like to learn more about Stated Income loans, their uses, and whether it might be right for you – Click Here to email me.  I’ll Send you the 5 most important things you need to know about today’s Stated Income Loans.


Jeremy Beck | Mortgage Planner / Co-Founder

GreenHouse Group – 858-863-0262


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