For those buyers with complicated income statements -- for example, those with income coming through multiple sources, irregular income, rental income, or developing (not seasoned) income there is: -- "low-doc" or "no-doc" mortgages.  (Also call "stated income") These programs allow the borrower to "state" their income on the loan application.  That stated income is not verified by the lender.

Of course, the trade-off is that the less information provided, the higher the down payment or interest rate. However, those borrowers with credit scores above 680 and 720 will find the interest rates only slightly higher than conventional rates.

These types of loans work well for those who are self-employed and who may not have the 2-year track record required for conventional loans, active stock traders or Realtors who don't want to share their financial history, or those with a complicated tax return.

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