Stated Income 2nd Mortgage


You must be self-employed to be eligible for this program using personal bank statements and own at least 25% of the company to qualify.


Who Would Benefit from a Stated Income 2nd Mortgage?

Stated Income 2nd Mortgages are ideal for self-employed individuals and small business owners who cannot provide adequate income documentation in the forms of paystubs, W-2s and/or income tax returns but who can show sufficient deposits in their business and/or personal bank statements.


How It Works

With a Stated Income Loan, your income is calculated by adding up all the deposits in your business and/or personal account for either a 12 or 24-month period, and then dividing the total by the same number of months.  Any transfers between accounts are not considered.  This method is very effective for business owners because it allows their income to be calculated based on gross deposits for the business rather than on profit or personal income.


Program Highlights

  • Stand-Alone 2nd Mortgage (Cash Out Equity Loan)
  • Income Verification: 24-Months’ Bank Statements (Business or Personal)
  • Maximum Loan Amount: $500,000
  • Minimum Loan Amount: $150,000
  • Maximum CLTV: 85%
  • Minimum FICO Score: 700
  • Start Rate: 7.75%
  • Term: 20-Year Fixed
  • Occupancy: Owner-Occupied


Getting Started

To help you determine if a Stated Income 2nd Mortgage is right for you, please contact one of our licensed Loan Specialists by calling us directly at 844-574-LOAN (5626), by submitting the form on the right or by completing an application directly on our website.


Schedule a Loan Officer Consultation

To determine the right loan program with you, schedule some time with a loan officer to discuss your options. Choose the best day and time for us to call you.


Call Us 844-574-LOAN (5626)





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