Secure Flexible Financing With a Stated Income Commercial Real Estate Loan
Every business needs access to flexible financing to grow sustainably. A stated income commercial real estate loan is a wonderful solution because the funding you receive from it can be used in any way to improve your business. The stated income loans offered by help businesses of all sizes flourish in the competitive marketplace.
What Is a Stated Income Loan?
While traditional loans are often approved based on credit history, stated income loans focus on property value to determine eligibility. If your company owns property with a value that is greater than the total cost of its expenses, including mortgage, taxes and insurance, it is eligible for a stated income loan. Any type of property can qualify. The secondary difference between stated income and traditional loans is that the former option typically requires less paperwork and documentation so it is usually approved more quickly than other financial solutions. These two differences make stated income loans ideal for new companies.
What Are the Advantages of a Stated Income Loan?
Flexibility is the primary benefit of stated income loans. You are free to use the money you receive in any way you deem fit, from consolidation debt to purchasing inventory. A qualifying credit score of at least 600 gives you the following advantages:
- Fixed rates
- 25-year terms
- W-2 and self-employment documentation
- Up to 75% LTV for mixed-use and multi-family properties
- Up to 70% LTV for investment and owner-occupied properties
- Up to 65% LTV for commercial properties such as warehouses, retail buildings, storage facilities and office spaces
Contact Us Today
A stated income commercial real estate loan could be a wonderful investment for your business. If you are interested in securing this avenue of financing, contact today. We can tailor a loan solution to meet your needs and in most cases, get you the money you need in as little as 24 hours.