Stated Income Commercial Real Estate
Purchase, Improve or Refinance With a Stated Income Commercial Real Estate Loan
Traditional real estate loans carry many advantages, but some borrowers may seek alternatives. If you wish to avoid stacks of paperwork and a lengthy application process, or if you have been turned down by other lenders, a stated income commercial real estate loan may be right for you. Resource Capital Solutions offers these loans to qualified applicants and delivers them with exceptional customer service. Our simplified application and quick approval process mean you may be closing on your loan in as little as two to three weeks.
Terms and Benefits of Stated Income Commercial Real Estate Loans
Review the following benefits and terms to see if this product is a good fit for you.
- Loan amounts up to $500,000
- Minimum credit score of 600
- Up to 25 years to repay
- Significantly less paperwork than traditional loans
- Amortized loans with fixed rates
- Up to 65% loan-to-value (LTV) for self-storage, auto service, office, warehouse and retail properties
- Non-owner-occupied properties with one to four units qualify for up to 70% LTV.
- 75% LTV on mixed use or multifamily properties with five or more units for applicants with credit scores of 700 or higher
Self-employment documentation or W-2 forms will be needed to complete the application. If approved, you may use the funds to increase your working capital, refinance or consolidate existing debt, and purchase or improve properties. We weight the value of your property more heavily than your credit score, meaning you may qualify despite past financial difficulties. As long as the value of the property covers the mortgage, taxes and insurance, and you meet the minimum credit score standards, you may qualify.
Contact Resource Capital Solutions for additional details about our stated income commercial real estate loans. One of our commercial finance experts will speak with you to answer your questions and help you determine if this is the right product for you.