Stated Income Mortgages

With a traditional, full documentation loan program for a residential or commercial property, the borrower is required to provide various documents that prove their income. This may include everything from pay stubs to tax returns and bank statements. However, there are instances when it is not feasible for the borrower to provide these documents or when the income may not be fully documented through these items. At MortgageDepot, we understand that a full documentation loan request is not always ideal for all loan requests. When you contact our New York based mortgage brokerage firm, you can inquire about our stated income mortgage for both commercial and residential properties.

Some highlights

• No Tax Returns / No W2’s / No Pay stubs
• Loan amounts up to $3 Million
• 1-4 residential Units and Condos (must be investment property) ( NY available for primary residence)
• 5+ Unit Multifamily and Mixed-Use Properties
• Office, Retail, Warehouse, Self-Storage, Automotive Service.
• No limit on how many properties owned
• Call for Terms and Pricing

Our Commercial Stated Income Program
Through our commercial stated income mortgage program, we can lend up to 75 percent loan-to-value with loan amounts from $200,000 to $6 million. This competitive loan program is suited for a wide range of commercial property types, and this includes multifamily, office, retail, self-storage, warehouse, mixed use and industrial. We strive to close our loans quickly, and this program has a 30-day closing time on average from the commitment period until closing. This is a full recourse program for the borrower, and this means that the borrower will be personally responsible for the loan.

Our Residential Stated Income Program
In addition to our commercial stated income program, we also have a stated income program that is ideal for residential property types. With this stated income program, we can lend up to 70 percent loan-to-value on residential properties with between one and four units, including condos. This program is intended for investor properties rather than for owner-occupied properties. We can provide loan amounts from $75,000 to $2 million for residential properties. As with the commercial stated income program, we can close these loans in approximately 60 days after the commitment stage, and this is a full recourse loan for the borrower as well.

If you have been struggling to find a stated income mortgage program for a commercial or residential property or if you are unsure of your ability to qualify for a full documentation loan program, you can reach out to MortgageDepot today. When you speak with one of our friendly lending representatives, you will learn more about the program and the qualifications and requirements for it. Through this initial phone call, you can determine if this is the stated income loan program that you have been searching for.

*This product is not regulated by the New York State Department of Financial Services