Navigating the World of Stated Income 2nd Mortgages: What You Need to Know
A stated income 2nd mortgage is a type of mortgage loan that allows borrowers to qualify based on their stated income, rather than their documented income. This type of loan is often used by borrowers who are self-employed, have a fluctuating income, or have difficulty proving their income through traditional documentation methods. In this blog, we'll discuss what you need to know about stated income 2nd mortgages.