Give Your Business a Boost With a Stated Income Commercial Real Estate Loan
How do you like the sound of a quick loan approval process that doesn’t involve a ton of paperwork and time-intensive credit history checks? If you want to consolidate debt, remodel property or refinance, a stated income commercial real estate loan from Commercial Capital Lending, LLC can help you achieve your goals.
What Makes a Stated Income Loan Different Than a Traditional Loan?
A stated income loan shifts the focus from the credit history of the borrower to the value of the piece of property. The value of the property is required to cover the mortgage, taxes and insurance of the stated income loan. Approval is much quicker with a stated income loan than a traditional loan because the borrower doesn’t have to submit as much paperwork to qualify.
It doesn’t matter if you work with apartments, real estate, restaurants or anything else. As long as your property meets the requirements, you can get access to a stated income commercial real estate loan.
What Are the General Loan Guidelines?
These loans have a number of features that make them ideal for many businesses, large and small:
- Qualifying credit score of 600
- Fixed rates, 25-year amortized loans
- Almost any property type allowed
- Freedom to apply the funds to different uses, such as purchasing, debt consolidation, or refinancing
- W-2 or self-employment documentation
- Substantial loan amounts of up to $500,000
- Up to 65% loan-to-value ratio for office, retail, auto service, self-storage and warehouse properties
- Up to 70% LTV ratio for non-owner-occupied investment properties (1 to 4 units)
- Up to 75% LTV ratio for multifamily and mixed-use properties with 5 or more units (credit score of 700 and above usually required)
Contact Us Today
Reach out to us today to learn more about the benefits of a stated income commercial real estate loan. Closing and boosting your business is possible within two to three weeks.