Stated Income Lends You Benefits

If you are looking for a quick and easy way to access equity in your commercial properties, stated income commercial real estate loans are a handy and expedient way to:

  • Purchase and refinance property
  • Consolidate debt
  • Make property improvements
  • Build working capital

Advantages of This Loan Type

The advantages of a stated income loan are:

  • Less emphasis on the borrower’s credit history
  • Much quicker approval than traditional loans
  • Less paperwork required to apply
  • Up to $500,000 available

How it Works

This type of loan uses the property that you own to determine the amount of stated income commercial real estate loan you qualify for. The value of your property must be sufficient to cover the mortgage, insurance, and taxes of the stated income loan. With this approach, you need to produce much less documentation than a traditional commercial loan and the loan can usually close within two to three weeks. Properties that qualify for this type of loan include:

  • Apartments
  • Restaurants
  • Warehouses
  • General commercial real estate

Requirements

In order to qualify for a stated income loan, these requirements need to be satisfied:

  • Self-employment or W-2 Documentation
  • Credit score of at least 600
  • Retail, office, warehouse, and self-storage properties qualify with up to a 65 percent loan-to-value ratio
  • Up to a 70 percent loan to value ratio is allowed for occupied investment property of four units or less
  • Mixed use or multifamily properties of five units or more with up to a 75 percent loan to value ratio can qualify with a credit score of at least 700

Contact Us

A variety of properties can qualify for a stated income commercial real estate loan. Contact us today to find out how you can benefit from a fixed rate loan that unleashes the power of your commercial property equity. At Grow Thrive Commercial Capital, we are committed to helping you be successful in your business endeavors.