Purchase the Ideal Property with a Stated Income Commercial Real Estate Loan
Do you need capital to close the deal on an amazing property that would be perfect for your business? We offer many financing options that can help you secure the real estate your company needs to grow, including stated income commercial real estate loans. How do these loans work?
What is Stated Income Commercial Real Estate Financing?
With this type of loan, lending institutions utilize the real estate you’re interested in buying as equity. In essence, the bank purchases the property desired, and your company makes mortgage payments against its value. Once payment is concluded, ownership is transferred completely to you.
What are the Requirements to Qualify for this Kind of Financing?
The most important factor considered in this type of loan is the value of the property itself, which must cover the entirety of the loan amount, including mortgage, insurance and applicable taxes. In addition, applicants should have a credit score of 600, basic employment records and information regarding the real estate in question. Qualifying is generally easy, since your personal credit history or business cash flow aren’t as important as the property being used as equity.
What can a Commercial Real Estate Loan be Used for?
- Renovation or remodeling of business property
- Purchase of real estate
- Refinancing of an existing loan
- Debt consolidation
- Access to capital for other business needs
There are few requirements regarding the type of property you can obtain a loan for. As long as its value fits the requested loan, it may be a good candidate for financing.
Enjoy Your New Property with Excellent Financing Rates and Terms
We’re invested in helping your business grow. That’s why we offer favorable terms that allow you to develop it comfortably, with the freedom to adapt to prime market conditions.
- Fixed-rate loans with 25-year repayment terms
- Financing of up to $500,000
- Maximum loan-to-value ratio of 65–75 percent depending on property
Contact our expert financial advisors to discover the range of options available.