There Is no Better Time Than Now to Benefit From a Stated Income Commercial Real Estate Loan
Have you recently been told that your credit history does not qualify you for a loan? Or maybe you don’t want to go through the lengthy process that comes with a standard loan application. In either case, you may be a good candidate for a stated income commercial real estate loan, which is based on the property value in question rather than your credit score. A stated income loan is frequently used to improve or purchase property, refinance, consolidate date and build working capital.
Benefits of a Stated Income Loan
In order to obtain a stated income real estate loan, the value of the property you are purchasing must be high enough to sufficiently cover insurance, mortgage, taxes and other property-related fees. Stated income loans can be obtained more quickly than traditional loans because they do not require as much documentation. Additional benefits and highlights of our program include:
- Up to 75% loan-to-value (LTV) possible with a qualifying credit score of 700 or higher for mixed use or multifamily properties composed of five or more units
- Non-owner occupied investment properties with one to four units may qualify for up to 70% LTV
- Up to 65% LTV available for qualifying warehouses, auto service properties, self-storage facilities and other properties
- Qualifying credit score of 600 or higher is required
- Funding available for practically any type of property
- Self-employment documentation or W-2 required
- Loan amounts up to $500,000
- Funds can be used for a variety of purposes, including debt consolidation, refinancing or purchasing property
Whether your business is in real estate, warehouses, apartments, restaurants or some other type of property, you may qualify for a generous loan through our stated income program.
Are you interested in applying for our stated income commercial real estate program? Give us a call today at (404) 433-7931 and you could close in a matter of weeks!