Stated Income Commercial Real Estate
Choose a Stated Income Loan for Your Next Commercial Investment
Do you have less than optimal credit, or are you tired of the scrutiny and mounds of paperwork that comes with applying for a conventional loan? Our stated income commercial real estate loans require far fewer redundancies and focus primarily on property value. With the Buffalo Commercial Solutions stated income program, you can fund debt consolidation, property improvement or purchase, refinancing, etc.
Why a Stated Income Loan Is Preferable To a Traditional Loan
A conventional loan program requires a lot of the borrower. It is up to you to prove that you are not a risk to the lender and that repayment is realistic. It is not uncommon for an applicant to feel like they are being interrogated through the process. Unfortunately, throughout the long process, most applicants will be denied. That denial is of no fault of their own, the regulations and rules that traditional Banks must abide by severely limit their flexibility.
Because we are a private lender, we have more flexibility when it comes to paperwork and decisions. Our primary concern is that the property that you are interested in maintains value. The property must be able to match the loan value. Since we focus more on property value, we can concentrate Less on credit scores and history.
Another significant benefit of a stated income loan is the rapid approval. Because we focus on property value over creditworthiness, we can approve loans within 24 hours and fund them within a few weeks. You will no longer have to risk losing out on an investment because your loan is caught in a constant back and forth between the bank and yourself.
Stated Income Loan Fundamentals
Before applying for any type of loan, it is crucial to understand what you are getting into. Having a clear understanding of the limits and terms of a stated income loan, reduce the potential risk of loan default. They’re at least a few things you should understand about this type of loan:
- Fixed interest rate
- $500,000 Max loan limit
- 25-year amortized loan
- 65% to 75% LTV, depending on property type
Contact Us Today
Are you in need of funding for your next commercial real estate purchase? Do not hesitate to contact a <company name> representative to begin your application.