A stated income loan is a mortgage loan that does not require you to provide documentation of your income. A stated income mortgage loan is most beneficial to individuals whose income is hard to document.  Stated Income Mortgage Loans are the most commonly used and least expensive product in the reduced or no doc loan programs. A Stated Income Mortgage Loan is suited for you if you have verifiable employment (self employment is fine) and assets. Income that is stated on the application must be reasonable in terms of your occupation and assets.  A stated income loan is available to borrowers in all credit grades. Qualification for these loans usually require the borrower to have a certain minimum credit score. The minimum credit score required for a stated income mortgage loan will vary from lender to lender but with most lenders you will need to have a fico score of at least 580. However we have a few programs available that will allow a lower score for a stated income mortgage.