Understand the Advantages of a Stated Income Commercial Real Estate Loan

When you need to borrow money for your property, consider a stated income commercial real estate loan rather than a traditional type. If you have been turned down before due to your credit history or if you like the idea of less paperwork, ROCBILT Commercial Lending may be the perfect company to take care of your loan needs.

Fundamentals

Stated income loans can be used to purchase or improve property, consolidate debt, or refinance and build capital. Any property type may qualify. Decide if this solution is right for you:

  • Loan amounts up to $500,000
  • Funds may be used for various purposes
  • Minimum credit score of 600
  • Loan-to-value ratio between 65 percent and 75 percent depending on your business type and purpose

If you have a credit score of at least 600, could a loan as high as $500,000 benefit your business? You may use your funds in many ways to improve your company and its finances.

If you own or are purchasing an office, retail store, auto service, or storage or warehouse property, you could receive up to 65 percent loan-to-value. LTV is the ratio of the mortgage a lender is willing to offer in relation to the property value. For investment properties consisting of one to four units and not occupied by the owner, the LTV may be as high as 70 percent. Get up to 75 percent LTV if your credit score is at least 700 and you own a multifamily, mixed-use property with more than four units.

Stated Income Loan Versus Traditional Loan

Stated income loans can be approved more quickly than traditional loans because they focus more on the property than credit history. With less need for qualifying documentation, borrowers can get the money they need for their businesses with little trouble. To secure a stated income loan, the borrower simply shows that the value of the property can cover the mortgage, insurance, and taxes.

Contact ROCBILT Commercial Lending now to get a stated income commercial real estate loan for your current or future property. Improve your business today.