Finance the Right Property With a Stated Income Commercial Real Estate Loan
If you are looking to build working capital, consolidate debt, purchase and improve property, or refinance to better your business, a stated income commercial real estate loan is an excellent option. At Commercial Capital Finance Group, we offer generous terms for this type of flexible funding.
Terms for Stated Income Loans
If you think a stated income commercial real estate loan could benefit your business, apply for one with Commercial Capital Finance Group. We offer the following terms for this type of loan.
- W-2 and self-employment documentation
- Up to 65 percent LTV for retail, office, and warehouse properties
- Up to 70 percent LTV for investment properties
- Up to 75 percent LTV for mixed use properties
- Qualifying credit score of 600
- Loan amount up to $500,000
- Funding can be used for numerous purposes
- 25-year amortized terms
- Fixed interest rates
Differences Between Traditional and Stated Income Loans
When you apply for a traditional bank loan, your credit history is taken into account. If you have a poor credit history, you most likely will not qualify for the loan. If you do, you will be required to show a lot of documentation, so applying for and receiving the funds could be a lengthy process.
A stated income loan focuses more on the piece of property in question. If the property meets loan criteria, meaning its value exceeds the cost of its insurance, taxes, and mortgage, then it qualifies for the loan regardless of your personal credit history. Less documentation is required, so it is also a faster process.
Nearly any type of property can qualify for a stated income loan. As long as the piece of real estate meets the right criteria, any property from warehouses to offices can qualify.
At Commercial Capital Finance Group, we specialize in providing you with excellent financing options to help you grow your business. Contact us today to learn more about how stated income commercial real estate loans can be beneficial.