Stated-Income Loans in Georgia

Georgia has one of the most entrepreneurially active workforces in the Southeast. Business owners, independent contractors, real estate investors, hospitality professionals, commission earners, and cash-intensive business operators make up a significant share of the state's economy. Many of these borrowers earn well. Some earn very well. But their tax returns, by design, often tell a different story.

Conventional mortgage underwriting requires two years of tax returns and calculates qualifying income from net taxable figures after every deduction has been applied. For a Georgia business owner generating $300,000 in annual revenue but showing $65,000 in net income after legitimate write-offs, that qualification method produces a denial that has nothing to do with their actual ability to repay a loan.

Stated income loan programs, in their modern form, offer an alternative framework. Rather than submitting two years of tax returns and IRS transcripts, borrowers can qualify through alternative documentation approaches that more accurately reflect their financial reality. Bank statements. Profit and loss statements. Asset verification. Stated income combined with verified assets. The exact structure depends on the program, the borrower profile, and the property type.

Truss Financial Group offers Georgia borrowers access to the full spectrum of stated income and alternative documentation programs, from SIVA and SISA structures to bank statement loans, P&L-only programs, and NonQM hybrid qualification pathways. No W-2s required. No IRS transcripts. No tax return dependency.

What Are Stated Income Loans? A Modern Perspective

The term "stated income loan" carries historical baggage from the pre-2008 era when lenders accepted borrower-reported income figures with virtually no verification. Those original products, sometimes called liar loans, contributed to the housing crisis because there was no discipline built into the income assessment process.

Today's stated income programs are fundamentally different. The Dodd-Frank Act of 2010 and the CFPB's Ability to Repay Rule require lenders to make a reasonable determination that a borrower can repay the loan. Modern stated income programs comply with this requirement, not by eliminating documentation, but by substituting more relevant documentation for tax returns. The program names have evolved, the documentation standards have tightened, and the underwriting is genuinely rigorous. What has remained is the core benefit: the ability for borrowers with unconventional income structures to qualify without submitting two years of tax returns as the primary proof of earnings.

There are four main structures that fall under the stated income umbrella in 2026, each with a different documentation requirement and risk profile. Understanding which structure fits your situation is the first step toward the right program.

SIVA: Stated Income, Verified Assets The borrower states their gross monthly income on the loan application without providing tax returns to verify it. The lender then verifies assets through bank statements and financial account documentation. Also commonly referred to as a bank statement loan, this is the most widely used stated income structure in the current market. The asset verification requirement means the lender has objective evidence of financial capacity even without tax return income confirmation.

SISA: Stated Income, Stated Assets The borrower states both income and assets without full third-party verification of either. This structure is available primarily for investment properties rather than primary residences, reflecting the ability-to-repay regulatory framework that applies differently to non-owner-occupied transactions. Minimal bank statements may still be required to establish general cash flow plausibility, but the documentation burden is substantially lower than SIVA or conventional programs.

NIVA: No Income, Verified Assets Income is not included on the application at all. Loan approval is based on verified asset holdings. This is closely related to the asset depletion loan structure: the lender evaluates whether the borrower's verified liquid assets demonstrate sufficient repayment capacity without requiring any income statement or figure. Well-suited for retirees and high-net-worth borrowers who have no active income to document.

NINA: No Income, No Assets Neither income nor assets are verified. Qualification is based on the property itself, specifically the rental income it generates relative to the proposed debt service. This is essentially the DSCR loan structure: a Georgia real estate investor purchasing a rental property qualifies because the property covers its own debt service, without the borrower's personal income or asset profile entering the equation.

The Modern Stated Income Toolkit for Georgia Borrowers

In practice, Georgia borrowers searching for stated income programs have access to several specific products that each address a different documentation challenge. Truss Financial Group works across all of them.

Bank Statement Loans (SIVA Structure) The workhorse of the stated income category. Georgia borrowers qualify on 12 or 24 months of personal or business bank deposits rather than tax returns. Income is calculated from actual deposit history, producing a figure that reflects real cash flow rather than tax-optimized net income. For self-employed Georgians, this almost always produces a significantly higher qualifying income than the tax return would show.

Profit and Loss Statement Loans (P&L Only) For borrowers who have not yet filed recent tax returns or whose filed returns reflect aggressive deduction strategies, a CPA-prepared or accountant-verified profit and loss statement can serve as the primary income documentation. NQM Funding notes that P&L only loan programs allow self-employed borrowers to present actual business performance data rather than tax-driven net income figures, producing a more accurate picture of earning capacity. Loan amounts from $150,000 to $3,000,000 are available on most programs. LTV ratios up to 80% on qualified borrowers.

No Tax Return Loans (Broader NonQM Framework) An umbrella structure that allows various forms of alternative income documentation to satisfy the ability-to-repay requirement without any tax return submission. This can include combinations of bank statements, P&L statements, 1099 documentation, asset statements, and rental income verification depending on what the borrower can provide and what the program requires. Particularly effective for borrowers who have complex income from multiple sources that no single documentation type can fully capture.

DSCR Loans (NINA Structure for Investors) For Georgia real estate investors, the DSCR loan eliminates all personal income documentation from the qualification process. The rental income generated by the investment property is used to calculate the debt service coverage ratio. If the property covers its own debt service at or above a 1.0 ratio, the loan qualifies regardless of the borrower's personal income, employment status, or tax returns. No income stated. No income verified. The deal qualifies on its own merits.

Asset Depletion (NIVA Structure) For retirees and high-net-worth Georgia borrowers with significant liquid assets but limited or no current income, total eligible assets are divided by a depletion period to generate a synthetic qualifying monthly income. No income documentation is required. Asset statements serve as the complete income verification substitute.

Who Uses Stated Income Programs in Georgia

The population of Georgia borrowers who benefit from stated income structures is large, economically diverse, and underserved by conventional lending.

Restaurant and Hospitality Owners Georgia's restaurant industry is one of the largest in the Southeast. Restaurant owners operate businesses with strong gross revenue but highly variable net income depending on reinvestment cycles, staffing decisions, and equipment costs. Their tax returns often understate operating profitability significantly. Bank statement or P&L programs qualify them on business performance rather than tax return AGI.

Cash-Intensive Business Operators Laundromat owners, car wash operators, convenience store owners, nail salons, barbershops, and similar businesses in Georgia generate substantial cash income that may not be fully captured in tax return documentation even when properly reported. SIVA and bank statement programs provide a documentation pathway that accommodates this income structure.

Commission-Based Professionals Georgia real estate agents, insurance producers, financial advisors, and sales professionals earn commission income that fluctuates year to year based on volume, market conditions, and deal timing. A strong year followed by a slower year can produce a two-year average that severely understates current earning capacity. Bank statement and P&L programs can be calibrated to more recent performance periods.

Technology and Consulting Contractors Atlanta's fintech and technology ecosystem supports a large population of independent contractors and consultants who earn substantial 1099 income. Their tax returns, after legitimate business expense deductions, frequently show income below their actual capacity. NonQM stated income programs qualify them on bank deposits or 1099 gross income rather than deduction-adjusted net figures.

Real Estate Investors Georgia investors who own multiple rental properties often have complex tax situations with depreciation, pass-through losses, and entity structures that make personal tax returns misleading as income documentation. DSCR programs eliminate personal income from the equation entirely, qualifying each property on its own rental income. SISA programs offer another pathway for investors who need to qualify investment property purchases with minimal personal documentation.

Film and Entertainment Industry Professionals Georgia is the number one state for film production. Producers, directors, production company owners, and specialized crew members earn project-based income that is inherently irregular. A 24-month bank statement average or a CPA-prepared P&L accurately represents their earning capacity in ways that a tax return averaging two calendar years of income cannot.

Business Owners Pursuing Aggressive Tax Strategies The largest single category of stated income program users: Georgia business owners who work closely with tax professionals to minimize taxable income through entirely legal deductions. Depreciation, pass-through losses, retirement contributions, home office deductions, and business expense write-offs can reduce a $400,000 gross earner to $80,000 in net taxable income on paper. Bank statement and P&L programs bypass this entirely.

Stated Income Program Requirements in Georgia

Requirements vary meaningfully across stated income program types. The table below provides a side-by-side comparison of the major program structures available through Truss Financial Group for Georgia borrowers.

Stated Income Program Comparison Table

Stated Income Loans vs. Conventional Loans: The Core Difference

The fundamental distinction between a stated income program and a conventional loan is not the amount of documentation required but the type of documentation used. Conventional loans use tax-return AGI as the income baseline. Stated income programs substitute a documentation source that more accurately reflects the borrower's real financial position.

For Georgia's self-employed borrowers, this distinction has enormous practical consequences. A borrower showing $90,000 in net taxable income on their 1040 after deductions does not qualify for a $600,000 mortgage under conventional guidelines. The same borrower qualifying on $250,000 in annual bank deposits through a SIVA program qualifies comfortably. The property is the same. The borrower is the same. The only thing that changed is which income figure the lender used.

Stated income programs carry higher interest rates than conventional equivalents, typically between 0.5% and 1.5% above comparable conventional rates, reflecting the alternative documentation structure. For most self-employed Georgia borrowers, this premium is not a relevant comparison because they do not qualify for the conventional rate regardless. The practical comparison is between qualifying at a stated income rate versus not qualifying at all.

What Modern Stated Income Lenders Actually Look At

Understanding what underwriters focus on in a stated income file helps Georgia borrowers prepare more effectively. The absence of tax returns does not mean the absence of underwriting rigor. It means the rigor is applied to different evidence.

Deposit consistency: For bank statement programs, underwriters look for consistent deposit patterns across the statement period. Erratic deposits, large unexplained transfers, or significant volatility month to month require explanation and may reduce the qualifying income calculation.

Business legitimacy: Most stated income programs require some evidence of ongoing business activity. A business license, CPA letter, professional membership, client contracts, or entity formation documents establish that the income is from a real operating enterprise rather than a one-time event.

Credit profile: In the absence of full income documentation, credit score plays a larger-than-normal role. A strong credit history demonstrates consistent debt management discipline across years of obligation, which is the most direct evidence available of repayment behavior when income cannot be fully verified.

Asset depth: Reserve requirements on stated income programs are typically higher than conventional equivalents. Most programs require six to twelve months of PITIA in liquid reserves after closing, and some require up to twenty-four months for larger loan amounts. Deep reserves provide the lender with evidence of financial resilience that partially offsets the reduced income documentation.

Equity position: Higher down payments and lower loan-to-value ratios are consistently associated with better stated income program terms. A larger equity stake reduces lender exposure and makes the overall risk profile more manageable despite the reduced income documentation. Many Georgia borrowers find that increasing the down payment from 10% to 20% opens access to significantly better stated income program pricing.

What to Prepare Before Applying

The documentation requirements for stated income programs depend on the specific program type chosen. The following outlines what to prepare for each major category.

For a bank statement loan, you will need 12 or 24 consecutive months of business or personal bank statements immediately prior to application, all pages of each statement included, a business license or CPA letter confirming self-employment, a credit authorization, down payment asset statements, and property details. A CPA letter documenting actual business expense ratios lower than the standard 50% applied to business accounts will increase the qualifying income figure.

For a P&L only loan, you will need a CPA-prepared or enrolled agent-prepared profit and loss statement covering 12 or 24 months of business activity, a business license, credit authorization, down payment documentation, and reserve statements. The P&L must be prepared by a licensed professional to meet lender requirements. Self-prepared P&L statements are not accepted.

For a DSCR loan, you will need the executed lease agreement or market rent analysis for the subject property, credit authorization, entity documentation if closing in an LLC, and post-closing reserve statements. No personal income documentation of any kind is required.

For an asset depletion loan, you will need 60 to 90 days of statements for all eligible asset accounts, credit authorization, down payment documentation, and property details. The lender calculates qualifying income from the verified asset balance using the program's depletion period formula.

How the Process Works

Step 1: Rate Quote (Same Day) Submit basic borrower information and the program type you are interested in through our online rate quote tool. Receive indicative rates and program options across both conventional and NonQM stated income programs without a hard credit pull. No income documentation needed to start.

Step 2: Program Selection and Document Collection (1 to 3 Days) Our team reviews your borrower profile and income documentation situation to identify which stated income structure produces the highest qualifying income with the most favorable terms. Once the optimal program is confirmed, you upload the relevant documentation through our secure digital portal.

Step 3: Underwriting (7 to 14 Business Days) Underwriting focuses on the alternative income documentation, credit review, and property appraisal. For bank statement programs, the income calculation is completed during this phase. For P&L programs, the lender reviews the CPA-prepared statement. For DSCR programs, the rental income analysis is completed. No IRS transcript requests on any stated income program.

Step 4: Approval and Closing (2 to 4 Weeks Total) Most Georgia stated income loan transactions close within two to four weeks of a complete application. Bank statement and P&L programs close faster than conventional loans because the IRS transcript bottleneck is eliminated. DSCR programs are the fastest, often funding within ten business days for well-prepared files. E-notary and remote closing are available statewide.

Georgia Cities and Markets We Serve

Truss Financial Group is licensed to originate stated income loans across the entire state of Georgia. We serve self-employed borrowers, business owners, real estate investors, and cash-intensive business operators in every major market, including:

Atlanta Metro: Atlanta, Buckhead, Midtown, Sandy Springs, Alpharetta, Marietta, Dunwoody, Roswell, Decatur, Smyrna, Kennesaw, Duluth, Norcross, Lawrenceville, Peachtree City, Fayetteville, Newnan, Woodstock, Canton, Johns Creek, East Cobb, Vinings

Coastal Georgia: Savannah, Tybee Island, Brunswick, St. Simons Island, Jekyll Island, Darien, Hinesville, Pooler

Northeast Georgia: Athens, Gainesville, Dahlonega, Cumming, Buford, Braselton, Blue Ridge, Ellijay

Central and West Georgia: Macon, Columbus, Warner Robins, Valdosta, Albany, LaGrange, Carrollton

East Georgia: Augusta, Evans, Martinez, Statesboro, Milledgeville

Frequently Asked Questions

What is a stated income loan and is it legal in 2026?

A stated income loan is a mortgage that qualifies the borrower through alternative documentation methods rather than traditional tax returns. The original pre-2008 stated income loans, which had no verification requirements at all, are no longer available for owner-occupied properties. Modern stated income programs comply with the Dodd-Frank Ability to Repay Rule by substituting more relevant documentation for tax returns rather than eliminating the assessment of repayment capacity. They are legal, regulated NonQM products available through specialized lenders.

What is the difference between a SIVA loan and a SISA loan?

A SIVA loan allows the borrower to state their gross income figure without tax return verification, while the lender verifies assets through bank statements or financial account documentation. A SISA loan allows the borrower to state both income and assets without full third-party verification of either. SIVA programs are more widely available and carry lower rates because the asset verification reduces lender risk. SISA programs are primarily available for investment properties.

Do stated income loans require bank statements?

It depends on the program. SIVA programs require bank statements to verify assets, and many lenders use those same statements to calculate a qualifying income figure through the bank statement loan methodology. P&L programs use an accountant-prepared statement rather than raw bank deposits. SISA programs may require limited bank statements for basic cash flow plausibility. DSCR programs require no personal bank statements at all.

Can I get a stated income loan on a primary residence in Georgia?

Yes. Bank statement loans and P&L programs are available for primary residences in Georgia for self-employed borrowers who can demonstrate self-employment history of at least one to two years. True SISA structures with no income or asset verification are generally restricted to investment properties under current regulatory guidelines. Asset depletion and NIVA programs are also available for primary residences for borrowers with significant liquid assets.

What credit score do I need for a stated income loan in Georgia?

Most stated income programs start at a minimum FICO score of 620. P&L only programs generally require 660 to 680. SISA programs for investment properties typically require 660 to 680 as well. Higher credit scores unlock better loan-to-value ratios and more favorable pricing across all stated income program types.

How much do I need to put down for a stated income loan in Georgia?

Down payment requirements vary by program and property type. Bank statement loans for primary residences start at 10% for strong credit profiles. P&L programs typically require 15 to 20%. SISA investment programs generally require 20 to 30%. Asset depletion programs for primary residences typically require 20 to 25%. Larger down payments consistently produce better pricing and higher approval probability across all stated income program types.

Can a stated income loan be used for a refinance in Georgia?

Yes. Both rate-and-term refinances and cash-out refinances are available through stated income and alternative documentation programs. A Georgia business owner who wants to access equity without submitting full tax returns can refinance through a bank statement or P&L program. A real estate investor can refinance rental properties through a DSCR program without any personal income documentation.

How is the income calculated on a bank statement program?

For business accounts, lenders total all deposits over the 12 or 24 month statement period and apply an expense ratio, typically 50%, to account for business operating costs. For personal accounts, deposits are counted at 100%. A CPA letter documenting actual business expense ratios lower than 50% can increase the qualifying income figure. The resulting average monthly income is used to calculate the debt-to-income ratio and maximum loan amount.

Are stated income loans available for self-employed borrowers who have not filed recent tax returns?

Yes. P&L only programs specifically accommodate borrowers who have not filed their most recent year's tax returns. The CPA-prepared profit and loss statement serves as the income documentation without requiring filed returns. For borrowers in the process of completing their returns, this can bridge the gap between current financial performance and what the IRS has on file.

What is the maximum loan amount for a stated income loan in Georgia?

Most bank statement, P&L, and stated income programs offer loan amounts up to $3,000,000 for qualified borrowers. Jumbo stated income programs are available above this threshold on select NonQM products.

How do stated income loans compare in rate to conventional loans?

Stated income program rates typically run 0.5% to 1.5% above comparable conventional rates, reflecting the alternative documentation structure. For most self-employed Georgia borrowers, this premium is the relevant cost of access to any financing at all rather than a comparison against a conventional program they could also qualify for. Our team runs the comparison for each borrower to identify the optimal program across all available options.

Why Truss Financial Group for Your Georgia Stated Income Loan

Truss Financial Group is a specialist NonQM mortgage broker whose entire focus is on alternative documentation programs: bank statement loans, P&L loans, DSCR, SIVA, SISA, asset depletion, no-doc, and 1099 income programs. These are not side products we offer alongside conventional lending. They are the entirety of what we do, which means our team understands them at a depth that conventional lenders simply cannot match.

Founded by Jeff Miller, a 25-year mortgage industry veteran who built Truss around the insight that Georgia's self-employed and income-complex borrowers deserved better than blanket denials, we approach every stated income file with the experience of having seen every variation of the documentation challenge these borrowers face. We know which programs qualify which borrower profiles, which lenders in our network have the strongest stated income underwriting, and how to structure a file to maximize qualifying income while satisfying program requirements.

For Georgia stated income borrowers specifically, Truss offers access to a curated network of NonQM lenders competing for your file, same-day rate quotes without a hard credit pull, loan amounts up to $3,000,000 and above, bank statement and P&L programs for primary residences and investment properties, DSCR programs with no personal income documentation, remote closing and e-notary services statewide, and a team that specializes in exactly the borrower profile the conventional market has always struggled to serve.

NMLS #2006915, licensed to lend in Georgia.

Ready to Move Forward?

You have built real income. You deserve real financing options that reflect it. Truss Financial Group offers Georgia's self-employed borrowers, business owners, and investors the stated income programs, the lender access, and the process expertise to qualify based on financial reality rather than tax-return fiction.

Get a same-day rate quote. No tax returns needed to start.

Truss Financial Group | NMLS #2006915 | Licensed to lend in Georgia All loan approvals subject to underwriting review. Stated income and NonQM loan programs are non-conforming and not eligible for purchase by Fannie Mae or Freddie Mac. Program terms, availability, and rates subject to change without notice. True SISA structures are generally available for investment properties only under current regulatory guidelines.

Sources: The Mortgage Reports: Stated Income Loans Alternatives and Options 2026 · LendingTree: No-Doc Mortgages Guide 2025 · U.S. News: What Is a No-Doc Mortgage 2025 · RefiGuide: How to Get a Stated Income Mortgage 2025 · NQM Funding: P&L Only Loans in Georgia 2025 · Truss Financial Group Blog: SIVA Loan vs. SISA Loan · Private Capital Investors: Understanding Stated Income Commercial Loans · U.S. Census Bureau 2024 ACS · Georgia Association of Realtors 2025 Annual Housing Market Report