A Stated Income Commercial Real Estate Loan Provides Many Benefits for Your Business
Rather than focusing on the borrower’s credit history, a stated income commercial real estate loan shifts the focus to the real estate property. This means you don’t have to have perfect credit to qualify. Here are some additional benefits of this type of loan:
- Faster loan approval process than a traditional loan
- Minimal documentation necessary to qualify
- As long as the property value can cover the insurance, taxes and mortgage of the loan, your business is eligible for this type of loan
A loan like this can get your business the capital it needs without the hassle of a traditional loan.
Facts To Know
Use these facts to decide if this type of loan could make a difference for your business:
- Almost all types of property are eligible
- Credit score of 600 to qualify
- Impressive loan amounts up to $500,000
- Self-employment or W2 documents are necessary
- Flexible use of funds
- Loans amortized for 25 years with fixed rates
- One to four unit investment non-owner occupied properties can receive as much as a 70 percent loan-to-value ratio
- A mixed use or multi-family property with at least five units can qualify for as high as a 75 percent LTV
- Most properties occupied by a business can get an LTV of up to 65 percent
When you want a fast, easy financing option for your business, a loan like this could be the answer.
Boost Your Business
Whatever you need the funds for, a stated income commercial real estate loan from Loan Wolf Financial Services can help. Whether you’re looking to purchase or improve a property, consolidate debt or refinance to access working capital, our knowledgeable employees are ready to help you begin the loan process and answer whatever questions you may have. Contact us today to get the answers you need and take the next step toward growing your business.