Stated Income Loan Options

Self-Employed Mortgage Help


One of the first questions that potential borrowers ask when they call a mortgage company or a bank is, “Do you offer stated income loans?” Although there are a few lenders offering stated income loans, the answer to this question is almost always NO. With stated income loans having all but disappeared in recent years, more and more stated income borrowers are looking to private money lenders and are seeking hard money loans for badly needed credit.


Small Business Owners, Entrepreneurs & Mortgages

Sadly, it’s actually the stated income borrowers who are making most of the money churn in the economy, and not the W-2 wage earners. This group of stated income borrowers includes small business owners, realtors, doctors, attorneys, business consultants, and the list goes on. But the irony is it was NOT the stated income loans that got us into the financial crisis, it was the sub-prime loans that were the culprit. Yes the abuses of the house flippers and straw buyers who took out stated income loans were a major contributor to the meltdown of 2008. But this does not mean that stated income loans were bad loans, just that they were badly misused.


Until stated income loans are again being offered by banks, stated income borrowers will continue to demand private money loans and hard money loans to tap into badly needed credit. Call us at California Private Money Lenders to explore the options available to small business owners, self-employed individuals, and entrepreneurs for home and commercial lenders options.

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