stated income business loans

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stated income loan Program. We have several stated income business loans or No Income verification loan programs. listed below are two of our most common programs. Program A: We are a company that can provide small balance commercial loans from $100k to $5 million. No doc investment property loans are avaiable with the stated income loan program.

A stated income loan is a mortgage where the lender does not verify the borrower’s income by looking at their pay stubs, W-2 (employee income) forms, income tax returns, or other records. Instead, borrowers are simply asked to state their income, and taken at their word. These loans are sometimes called liar loans or liar’s loans.

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Stated Income Commercial Loan Document Requirements While personal tax returns or business tax returns aren’t required, a lender will still need to verify the property’s ability to service the debt through gathering the following documents.

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Even though the stated income loan is a SIVA loan (Stared Income Verified Assets), in some cases, qualifying criteria may be considered No Income/No Asset. (NINA). Each stated income loans borrower is looked at individually and case by case. Stated Income Loans for purchasing property requires a 35% down payment.

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With stated income business loans, entrepreneurs give a verbal or written statement for their amount of business revenue. The lender takes their word for it, using that amount to process the loan. If approved, the amount of the loan depends on what amount of revenue the business owner states.

Stated income loans are widely recognized as one of the primary factors that caused the housing market collapse between 2007 and 2010. These so-called "liar loans" didn’t require any form of income verification and ultimately allowed borrowers to take out loans they simply could not repay.

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