Stated Income Commercial Real Estate
How Can a Stated Income Commercial Real Estate Loan Grow Your Business?
If your business has trouble qualifying for a conventional loan due to a poor or limited credit history, a stated income commercial real estate loan could be the solution. Maimonides Capital Group offers this type of financing with generous terms to provide your company with the flexible financing it needs to be successful in the competitive business world.
Benefits of a Stated Income Loan
Stated income loans are usually easier to qualify for than traditional loans, and they also come with significant advantages and benefits. Along with loan amounts of up to $500,000, you will have access to the following benefits if you have a credit score of at least 600.
- Retail properties qualify for 65% LTV.
- Owner-occupied and investment properties qualify for 70% LTV.
- Multi-use properties qualify for 75% LTV.
- W-2 and self-employment documentation is provided.
- Loans periods last for 25 year and have fixed terms and full amortization.
Differences Between Stated Income and Conventional Loans
Traditional loans focus primarily on credit history to determine if a borrower qualifies. If you are suffering from a poor credit history, you may not qualify for a conventional loan, and even if you do, you will probably need to complete a significant amount of paperwork. Stated income loans, however, typically require much less paperwork and focus on the value of your property rather than credit history. If your property’s value is greater than the cost of its expenses, including the insurance, mortgage and taxes, it qualifies for this type of loan regardless of which type of property it is.
Get Started Today
If you want to grow your business but have less-than-perfect credit, a stated income commercial real estate loan could be the solution you are looking for. Contact Maimonides Capital Group today to discuss your loan options and apply for the funding you need to build a better business. We can provide you with the best possible loan so you can get the money you need quickly.