Searching for a stated income loan in Texas? The old 'just state your income' loans disappeared after 2008 — but what replaced them is better: programs that verify income from real documents you already have, without tax returns.
Why stated income loans vanished
Post-2008 rules require lenders to verify a borrower's ability to repay. Pure stated-income lending didn't survive that. What did survive is a family of non-QM programs that verify income through alternative documents.
The modern replacements
Bank statement loans qualify you on deposits. 1099 loans count 90-100% of gross 1099 earnings. P&L loans use a CPA-prepared statement. DSCR loans skip personal income entirely and qualify the property's rent. Each is fully legal, verified, and built for the self-employed.
Which one fits you
Steady deposits? Bank statement. Contractor income on 1099s? 1099 loan. Complex books but a clean P&L? P&L loan. Buying a rental? DSCR. A specialist can match your income shape to the right program in one conversation.
What to expect on rates
These programs price a bit above conventional — usually 0.5%-2% — because they're held by private investors. There's no monthly PMI, and refinancing later is always on the table.
See what you qualify for in 60 seconds — free and no credit check. Use the eligibility check at the top of this page.