Self-Employed? You Have More Options Than You Think 

Being self-employed doesn’t have to make getting a mortgage feel impossible. In fact—there are lots of programs designed to help.

But there’s one in particular that’s pretty amazing (and not enough people talk about): the stated income program.

This option can offer the lowest rates available for those who are purchasing.

How Does it Work?

Lenders understand that self-employed people often claim plenty of legitimate business expenses—like your cell phone, vehicle costs, or a home office.

All of these write-offs reduce your declared income on paper. And for industries with a cash component, your stated income might look even lower.

That’s where the stated income program comes in. It lets us “state” your income at a level that’s reasonable for your line of work or industry. 

Important to Know..

We can’t say you’re making $300,000 if you’re usually only showing $50,000. But what if you need a realistic bump—like going from $50,000 to $75,000?

This program can make that adjustment. And that kind of increase can have a big impact on your pre-approval amount.