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STATED INCOME / STATED ASSETS / NO INCOME LOANS

Do you find it difficult to verify your income?  Many mortgage lenders offer a number of programs for people who would rather state their income on a mortgage application without having to verify it through the normal channels of income documentation such as tax returns and pay stubs.  Lenders may require the borrower to meet certain credit score guidelines for the option of choosing to proceed with a stated income loan application but the scores are not as strict as they used to be.  To learn more the different income alternative programs available and what some credit score requirements are please view the chart below.

Credit Score Income Documentation Options
   
Above 720 Full Documentation
No Income / No Assets (NINA)
No Ratio
Stated Income
Stated Income / Stated Assets

- Maximum Loan Amounts may Apply to programs other than full documentation -
- Investment properties are limited to some of the products listed above -
- Contact a mortgage professional for more info -

   
   
Above 680 Full Documentation
No Income / No Assets (NINA)
No Ratio
Stated Income
Stated Income / Stated Assets

- Maximum Loan Amounts may Apply to programs other than full documentation -
- Investment properties are limited to some of the products listed above -
- Contact a mortgage professional for more info -
   
   
Between 660-680 Full Documentation
Stated Income
Stated Income / Stated Assets

- Maximum Loan Amounts may Apply to programs other than full documentation -
- Investment properties are limited to some of the products listed above -
- Contact a mortgage professional for more info -
   
   
Between 620-660 Full Documentation

- Maximum Loan Amounts may Apply to programs other than full documentation -
- Investment properties are limited to some of the products listed above -
- Contact a mortgage professional for more info -