What Stated Programs are left?: Many times most clients believe that Stated Programs are gone but thats not true, we are still doing 80% LTV Stated Loans with a minimum fico score of 720. This product is called the Mortgage Express.
What If I need more than 80% LTV?: This question gets asked alot. If you need more than 80% LTV then prove your income on your tax returns, this will allow you to revert back to full documentation type of loan which is fine.
The reason why most self employed borrowers want to do Stated Loans is because their tax returns either show a negative loss or not enough income claimed.
Well heres the thing, Claim your income, If you need to do a Tax Amendment then do it. If you need to weigh out your options what is more important buying a house or claiming more on your taxes, you do the math. I have had most clients who got a free amendment check and most of the time got out scotch free without paying any more and BAM they got a full doc loan, something to think about I say.
Your other option is using Bank Statements using 25% of all income deposited each month, if you have enough income to support then go with this option.