Offering Owner Occupied Stated Income Loans

Looking for an owner occupied stated income loan in Arizona, California, or Florida?

In mortgage lending, the term “owner-occupied” means a residence primarily used by its buyer. A primary residence is the house that you call “home,” meaning it’s the dwelling in which you actually live. Most mortgage lenders also differentiate between mortgage loans for primary residences and those for second homes or rental properties. Mortgage lenders tend to give generally favorable loan interest rates and lending terms for primary residence mortgages. Homebuyers’ mortgage loans come with various requirements, especially when borrowers use the loans to buy primary residences.Because your primary residence will be owned and occupied by you, your mortgage lender assumes it will be better cared for than it would be as a rental residence or investment property.

An owner occupied stated income loan is a mortgage where the lender does not require W-2’s or tax returns to prove income. Rather, these lenders will ask for other means of documentation like 12-24 months bank statements either business or personal. Stated income loan programs for owner occupied properties are available in Arizona, California, and Florida. Contact us today to find out how we can make getting an owner occupied stated income loan easier for you! Already have a specific property already in mind? Check out our loan application for a fast detailed response under our borrower tab by clicking here.

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