Stated Income Commercial Real Estate
Stated Income: The Better Commercial Real Estate Loan
Are you looking for commercial real estate financing? Have you had trouble getting approved by traditional banks? ClearView Capital Solutions stated income commercial real estate loans may be the answer you are looking for. This alternative to traditional mortgages can help you with purchasing, renovating or refinancing property as well as using equity to consolidate debt or build working capital.
How It Works
When you apply for a traditional commercial real estate loan, your creditworthiness is front and center. You have to supply significant documentation showing your credit and financial history. Conversely, the property itself is less of a focus. For a lot of borrowers, this means a long and drawn-out process with uncertain results.
Stated income loans work differently. When you apply for one of these loans, the property is the main emphasis. If it can generate enough income to cover the mortgages, taxes and insurance, it is likely that you will be approved. You don’t have to provide as much paperwork and the process is faster than a traditional approval process. Plus, applicants can be approved even with imperfect credit.
This is an option for almost every type of property, including offices, warehouses, apartments and restaurants. If the property can qualify, you likely can too.
Does a stated income commercial real estate loan sound like a good option for you? These are some of the details you need to know:
- Qualify Scores: 600 and up
- Rates: Fixed
- Amortization: Full
- Terms: Up to 25 years
- Loan-To-Value: Up to 75% for multiunit and mixed-use properties; 70% for smaller investment properties; 65% for owner-occupied properties
- Documentation: W2 or self-employment documentation
- Loan Amounts: Up to $500,000
- Funds Uses: Purchasing, refinancing, renovating, debt financing and more
Contact ClearView Capital Solutions today to learn more about stated income commercial real estate financing. We will get you started with a free consultation and analysis.