Stated income mortgage loans, also known as “no-doc” or “low-doc” loans, are not as widely available as they were before the 2008 financial crisis, as stricter lending standards have been put in place to prevent fraud and protect lenders from default. Some smaller banks and alternative lenders may still offer stated income mortgage loans, but they are typically more difficult to obtain and come with higher interest rates.
It is important to note that stated income mortgage loans are not legal in many states and most of the big banks stopped offering them. Furthermore, the use of these types of loans were a significant factor in the 2008 financial crisis, and as a result of this, many banks have completely stopped offering them. It is best to consult with a mortgage professional to understand the current regulations and who are legally offering these types of loans, if any.