This program is essentially a variation of the No Income Verification loan. With the stated income loan, the applicant merely states an income, and the lender will accept (or ignore) it as the qualification income. Such programs place the greatest underwriting weight on the applicant's credit and lowered LTV. Also see the No Income Verification and No Documentation Loan entries. For more information, see the "No Income Verification Loans" article in the "Loan Programs" section.
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