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Stated Income

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Stated Income

A documentation rule where the borrower discloses income and its source but the lender does not verify the amount.

SeeDocumentation Requirements/Stated Income-Verified Assets.



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For commercial borrowers seeking stated income commercial loans and commercial mortgages, there have been dramatic changes during the past year These changes have resulted in more restrictive availability and terms for small business loans based upon stated income underwriting For commercial borrowers seeking stated income commercial loans and commercial mortgages, there have been dramatic changes during the past year.
Many business owners wonder how to get the loans they need from a mortgage provider they can trust when 100 percent financing is harder to find, downpayments are required for most loans, stated income loans are less available and many lenders are closing their doors after suffering the consequences of poor lending practices.
These loans are called stated income loans and do not require the borrower to prove their income, only that they have income.
 
 
 
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