Stated income loans have a bad rap and were abused during pre-recession as lenders and loan officers mis-used the product for borrowers that couldn’t really afford the payments.  It doesn’t make sense a maid or cab driver can afford an $800k home, right?!?  It caused some drama that’s for sure.  
In this healthy economy, the “stated income” and “bank statement” loans have resurfaced.   They are not like they used to be though and the criteria is different.  They aren’t just giving anyone with a high FICO score a stated income loan just because…  It’s a non-QM, outside Dodd-Frank product for specific needs. 
In a nutshell, you’ll need good credit, 25% or more to put down, reserves, and be able to verify and source all assets. It can be great for tip earners of all types, entertainers, commission only earners, independent contractors, etc…
Give me a call 702-326-7866 if you want to learn more or see if you fit the criteria. 
Otherwise you can apply online at
Aundrea Beach-Greco 
NMLS 333739