Stated Income - No Doc Loan - Purchase or Refinance

[MonFund]

Stated Income - No Doc Loan - Purchase or Refinance

Stated income loans, also known as DSCR (debt service coverage ratio) loans, are a type of commercial mortgage that allows borrowers to qualify for a loan based on their projected rental income rather than their personal income. This can be a great benefit for real estate investors, as it can make it easier to get approved for a loan and purchase an investment property.

Here are some of the benefits of stated income loans on rental properties:

Easier to qualify for a loan. If you have non-traditional income, such as self-employment income or commission income, you may have a hard time qualifying for a traditional mortgage. Stated income loans can make it easier to qualify for a loan, as lenders will only consider your projected rental income.

Faster loan approval process. The loan approval process for stated income loans is typically much faster than the process for traditional mortgages. This is because lenders do not need to verify your income with tax returns or pay stubs.

Higher loan amounts. Stated income loans typically allow for higher loan amounts than traditional mortgages. This can be helpful if you are looking to purchase a more expensive investment property.

No prepayment penalties. Stated income loans typically do not have prepayment penalties. This means that you can pay off your loan early without having to pay any additional fees.

No Doc DSCR NO RATIO LOANS FOR SINGLE FAMILY, MULTIFAMILY, APARTMENTS CONDOS OFFICE (RETAIL/OFFICE/WAREHOUSE)

Send us a message @ contact@monumentalfundingsolutions.com or JeremiahC@directcapitl.com

[jahleel]

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[stevemarkovick]

No doc and stated income loans can be useful for self-employed borrowers or those with unconventional income sources, but they definitely come with risks. Lenders usually offset the lack of documentation with higher interest rates or stricter terms. Personally, I think they make sense only if you really can’t qualify for traditional loans—otherwise, transparency and stability are worth the extra paperwork.