You are self employed, congratulations! That is one of the principal requirements of stated income loans.
Many self employed have complicated tax situations and stated income loans are a way to show you have
the means to make payments on a mortgage outside of traditional income.
The main item lenders review are 12-24 months of businesses bank statements to see the flow of
money in and out of your accounts.
If you are not self-employed there is still a chance to qualify for a stated income loan based on your assets.
Lenders will review your liquid assets and determine the amount you would qualify to borrow.
However if you are a W-2 employee with no other income or liquid assets, a stated income loan may not be the
best fit for you.