Stated Income Loans - Nationwide Home Loans

Stated Income Loans

Mortgage Solutions for Self-Employed & Business Owners

Skip the hassle of W-2s and tax returns—simply state your income and qualify with easy alternatives like bank statements. Available nationwide in all 50 states!

Named us "The Best All-In-One Lender for Refinancing."

Get Your Stated Income Loan! Call Our Team

What is a Stated Income Loan?

Are you self-employed, a business owner, or have non-traditional income? Our Stated Income Mortgage Loans are now available nationwide—serving clients in all 50 states. Skip the hassle of W-2s and tax returns—simply state your income and qualify with easy alternatives like bank statements.

Unlike traditional lenders, we focus on your true financial picture, making it possible for self-employed professionals, freelancers, and investors to buy a home—even if you've been denied elsewhere.

Our fast closings mean you can move in as little as 14 days. We consider low credit scores and offer flexible verification options including bank statements or financial statements. Whether you need financing for an owner-occupied home, second home, or investment property, we have backup options including lease-to-own and owner financing.

Eligibility Requirements

What you need to qualify for a Stated Income Loan

Now Available in All 50 States

Our Stated Income Loan program is available nationwide, serving self-employed borrowers, business owners, and investors in every state across the country.

Fast Closings—Move in as Little as 14 Days

Our streamlined approval process enables rapid closings, with many borrowers moving into their new home in just two weeks from application to funding.

Low Credit Scores Considered

We work with borrowers who have lower credit scores. While a minimum of 620 is typically required, we evaluate your entire financial profile, not just your credit score.

Proof of Self-Employment or Non-Traditional Income

Documentation showing you are self-employed, own a business, or have non-traditional income sources such as freelance work, contract income, or investment revenue.

Bank Statements or Financial Statements

Verify your stated income using bank statements or financial statements instead of W-2s or tax returns. This alternative verification simplifies the process for self-employed borrowers.

Sufficient Assets for Down Payment and Closing Costs

Proof of adequate liquid assets to cover your down payment, closing costs, and reserves demonstrates financial readiness and stability.

Debt-to-Income Ratio Within Acceptable Limits

Your total monthly debt obligations should fall within acceptable debt-to-income ratio guidelines to ensure you can comfortably afford the mortgage payment.

No Significant Recent Financial Issues

Clean financial history with no recent bankruptcies, foreclosures, or major delinquencies demonstrates creditworthiness and financial responsibility.

Owner Occupied, Second Homes, and Investment Properties

Financing available for primary residences, second homes, and non-owner-occupied investment properties. Multiple property types qualify under our Stated Income program.

Backup Options: Lease-to-Own and Owner Financing

If traditional Stated Income financing doesn't fit your situation, we offer alternative solutions including lease-to-own arrangements and owner financing options.

Frequently Asked Questions

Get answers to common questions about Stated Income Loans

What documentation is needed for a Stated Income Loan?

Typically, you'll need bank statements or financial statements to verify your stated income. Rather than providing W-2s or tax returns, we use your bank statement deposits or financial statements to substantiate your income. The simplified documentation process makes it easier for self-employed individuals, freelancers, and business owners to qualify without the extensive paperwork required by traditional lenders.

How does the approval process for a Stated Income Loan differ from traditional loans?

The process focuses on stated income and alternative verification methods, which may be simpler and faster. Instead of requiring extensive tax returns and employment verification letters, we streamline the approval by reviewing your bank statements and financial documentation. This alternative approach allows for faster closings—many borrowers can move in as little as 14 days. We evaluate your true financial picture rather than just traditional income metrics.

Can I use a Stated Income Loan to refinance my existing mortgage?

Yes, Stated Income Loans can be used for both purchasing a new home and refinancing an existing mortgage. Whether you want to lower your interest rate, access equity through a cash-out refinance, or eliminate mortgage insurance, our Stated Income refinance options provide flexible solutions for self-employed borrowers. The same alternative income verification process applies to refinance transactions, making it easier to qualify without traditional income documentation.

Are there any restrictions on the types of properties that can be financed with a Stated Income Loan?

These loans can be used to finance a variety of property types, including primary residences, second homes, and investment properties. Whether you're buying an owner-occupied home, purchasing a vacation property, or investing in rental real estate, our Stated Income program offers flexible financing options. Single-family homes, condominiums, townhomes, and multi-unit properties typically qualify. We also offer backup options including lease-to-own and owner financing for unique situations.

What is the minimum credit score needed for a Stated Income Loan?

While requirements vary, a minimum credit score of 620 is typically needed to qualify. However, we consider low credit scores and evaluate your entire financial profile, not just your credit score. Borrowers with higher credit scores (680+) will receive more competitive interest rates and terms. We focus on your true financial picture—including bank statement deposits, assets, and overall financial stability—which allows us to work with borrowers who have been denied by traditional lenders.

Reviews From Past Clients

Don't take our word for it, here is what some of our past clients have to say about us!

"David Helped me secure financing for my very first home purchase. Other lenders would only pre-qualify me for amounts that were so much lower than I needed. I'll never forget, David said to me, "Don't worry, Jeff... we'll get you financed for the home you want." He was true to his word and so kind and understanding in dealing with my first-time home buyer's fears, concerns and questions."

Jeff Nelson First-Time Homebuyer

"Nationwide Home Loans Inc is absolutely the best lender I've ever done business with. They are extremely friendly and take the time to listen to your needs. They are also very creative and helped us in a purchase and a refinance. With all of their experience, they will find a way to get your loan through. Call Nationwide, you'll be glad you did!"

Damon Gillette Refinance & Purchase Client

Ready to Get Started?

Not sure which type of loan is right for you?

Click to Call David Ruch!

(805) 235-8575

NMLS # 309022
42 Years of Lending Experience!

Loan terms and credit approval may vary depending upon loan amount. In determining your actual loan amount, we will consider your ability to repay by looking at your income, debts, credit history, and other financial obligations. Nationwide Home Loans, Inc. is licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act.

Click to call David Ruch,
guiding Homebuyers for over 42 years! (805) 235-8575 NMLS # 331347