Stated income loans are the perfect solution for business owners, sales professionals, and 1099 contractors wanting to invest. Business owners, commission employees and full-time investors sometimes struggle to document the strength of their income with conventional lenders. PBFS’ stated income loans do not require documentation of your income, only a “stated” amount provided on the application.
This stated earnings amount will need to be combined with a strong credit score, and the property being purchased (asset) must be a solid investment. Because stated income loans focus on the asset being purchased, the property will also need to be valued with an official appraisal. However, this valuation, and the knowledge that the property is for investment purposes only, are the primary hurdles necessary to obtain your loan. Feel free to contact us if you would like to learn more about stated income financing opportunities.
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