Get Approved for a Stated Income Commercial Real Estate Loan
Loan Details
If you’re trying to buy a property that qualifies for a stated income commercial real estate loan, here are some of the loan details you should know about:
- You could receive as much as 75% loan-to-value for certain properties with a qualifying credit score
- Our loans are amortized, have fixed rates, and come with up to 25-year terms
- You can get a loan that’s as high as $500,000 if needed
- All property types are welcome to apply
You do need a minimum credit score of 600, but most people have no problem with that. Additionally, you’ll need to provide us with self-employment or W-2 documentation. Once you finish the application process successfully and receive your funds, we give you the freedom to use them to refinance, purchase a property or various other purposes.
How Stated Income Loans Differ From Traditional Loans
Before you apply for a stated income loan, you need to make sure you understand it and how it’s different from a regular loan. A stated income loan can only be received if the real estate you’re buying has a high enough value. As long as its value is higher than the mortgage and all other associated property costs (such as taxes and insurance), you’re in good shape. If you qualify, you’ll receive approval for your stated income commercial real estate loan much quicker than you would receive traditional loan approval.
