Hello! Javier's answer below was pretty accurate. There is virtully no form of "stated" income loans still in existance. Nowadays borrowers must be capable of passing 3 major tests: (1) Income to qualify. borrowers must show they have adequate & stable income to be able to repay the loan requested. Generally a minimum 2 year history of stable employment is required, but if you have recently graduated and now work in the field of your degree, your school history counts towards that 2 year history being looked for, (2) Credit history. In simple terms, the lender is looking to see that you have honored your obligations owed. They look for a history of obligations being paid as agreed. The amount of your debts owed can impact your ability to borrower, so as Javier mentioned, always paying on-time, but having a lot of debt could be worse than having a lower credit score but owing less...and (3) Assets. Lenders are looking at how much you are investing into the transaction yourself. Are you making a minimum down payment of 0% (allowed by VA Mortgages), 3.5% (allowed by FHA Mortgages) or 5% or more (required by Conventional Mortgages). I have been a Mortgage Banker for over 36 years now, so feel free to contact me and I can answer any specific questions you may have about qualifying.