Stated Income Commercial Real Estate

Stated Income Commercial Real Estate Loans Offer Quick Funding

One of the hardest things in business is getting funding when you need it. Sure, you can apply for conventional loans at traditional financial institutions. However, the high standards and qualifications make it challenging to get approval, especially without an extensive history and outstanding credit score. Our stated income commercial real estate loan program offers all businesses the opportunity for approval by looking at the proposal and property merits.

Conventional Loans Provide Obstacles While Stated Income Provides Solutions

A conventional loan requires a significant amount of paperwork for approval; a stated income loan, however, does not. Because of less paperwork, a stated income loan provides a quicker, more time-efficient solution. Additionally, a stated income loan relies less on the borrower’s credit history and more on the value of the property in question.

Whether a borrower is looking to acquire a restaurant, apartment complex, warehouse, or another business property, they can qualify for approval based on that property’s value. Essentially, the property must cover the taxes, mortgage, and insurance of the stated income loan to be eligible for loan approval.

Understanding Stated Income Loans

While the advantages of a stated income loan seem apparent, the only way to tell if the loan is right for you is to understand the fundamentals. There are several factors to consider before applying for a stated income loan program.

  • A minimum credit score of 600
  • Any property type welcome
  • Up to $500,000
  • W2 and self-employment documentation required
  • 65% to 75% LTV, depending on the property
  • Funds available for purchasing, debt consolidation, and refinancing

Contact Us Today

If you’re tired of being denied conventional commercial real estate loans, don’t hesitate to call Right Commercial Lending, LLC. Any of our representatives will be happy to assist you in filling out the application. You’ll also be delighted to know that a loan can see approval within 24 hours and funding within a few weeks.