Non-QM Loans :  1-858-997-9135
VA & Conv Loans :  1-855-537-6969
Non-QM Loans :  1-858-997-9135
VA & Conv Loans :  1-855-537-6969

Find Out if You Qualify


Stated Income Loans is a different type of loan which is provided by the lenders in California. This loan comes with different characteristics than traditional loans. Traditional loans require proof of employment, tax returns, and pay stub documentation but this is not the case with the stated income loans.

In the case of stated income loans which were popular in early 2000, the person borrowing the loan only has to provide the bank statements of their account. This has become the alternative to stated income loans. The bank statements show proof of the amount of cash flow coming into the bank account of the borrower. This ensures the lender that the borrower can pay back the loan in time.

The Soft Requirements of Stated Income Loans Present in California

The requirements in the State of California to borrow stated income loans are very normal. The lender demands a simple bank statements proof instead of asking for the W-2 forms. Moreover, the interest rates in California are also different from the other states.

The borrower is required to have a good credit score to get the loan so that the lender would have the surety that the person has a good track record of cash flow and can pay back the loan in time.

Stated Income Loans California
Stated Income Loans California

People Benefitting from Stated Income Loans


Self-employed people are the ones who reap the benefits of stated income loans. They only have to show the bank statements. There is no compulsion on them to provide employment verification proofs. Moreover, even if they have their tax returns which usually show write-offs to minimize tax liability on paper, bank statements show top line revenue to get max loan approval.


People who are entrepreneurs, gig works, and consultant businesses can benefit from these loans as they only have to show their bank statements. However, the above conditions must be met such as a good credit score which should be at least 660 FICO.

People with low Salary

People who do not have that high salary but live their lives on commissions that they make while selling different things. These people do not have that much in their bank statements but they do have certain other documents that can ensure that they can pay back the loan in time such as stock investment accounts, rental income, and other forms of income.

People who just started their Job

These loans are great for those people who just started their new company. They only need to provide proof of 1 year of bank statements and 2 years of working history..

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