Stated Income

Definition of "Stated Income"

A documentation rule where the borrower discloses income and its source but the lender does not verify the amount.

Search Real Estate Glossary

Related Real Estate Glossary terms

Catastrophe Loss

High severity loss that does not lend itself to accurate prediction and thus should be transferred b ...

Social Security Adjustment Option

Choice an employee can make of receiving higher private pension benefits prior to eligibility for So ...

Tax Lien

Claim against property for payment of taxes. Life insurance proceeds and annuity benefits are protec ...

Closed-end Lease

Involves monthly payments over a given time period. There is no charge when the lease expires. At th ...

Original Age

Insured's age at the date a term life insurance policy is issued. An original age or retroactive con ...

Dower Interest

Wife's interest in her husband's property upon his death. The wife has an insurable interest in that ...

Related Real Estate FAQ

What Do I Need To Know About Motorcycle Insurance?

You need an insurance policy that is tailored in your needs in mind. Take liability for example. Gue ...

What Is A Proration?

A proration is the division of certain fees. If the sellers have paid the taxes six months in advanc ...

What Is A Title?

A title is the right of property ownership. ...

What Is Long Term Care Insurance?

Long-term care refers to a broad range of medical and personal care services designed to assist indi ...

What Is Freddie Mac?

Freddie Mac is a name for the Federal Home Loan Mortgage Corp., which is a financial corporation cha ...

What Is An Appraised Value?

An opinion of a properties fair market value, based on an appraisers inspection and analysis of the ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

Build or Buy? That’s the Big Question How Does The Home Loan Underwriting Process Work? Should you Buy a Home with Cash? 3 tips to ensure your sale goes through Foreclosure - The Pros and Cons of Buying

FAQ

What is a lease purchase mortgage? What are prepayment penalties? What are the benefits of Commercial Auto Insurance? What is an index? What is the difference between a real estate broker and a real estate agent?