What is stated income?

Posted June 14, 2020

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.

Joe Jelasic

Joe is the Director of IT at React Mortgage and a licensed Mortgage Loan Originator. He believes in a customer-centric business model with an emphasis on transparency and education. He strives to improve the lending process and empower borrowers to make informed decisions.