How a Stated Income Commercial Real Estate Loan Could Benefit Your Company
If your business is having trouble securing a loan due to poor or limited credit history, a stated income commercial real estate loan could be the solution. Simplicity Capital Finance offers this type of financing with excellent terms, and because stated income loans are different from traditional ones, they are easier to qualify for.
Basics for a Stated Income Loan
Stated income loans from Simplicity Capital Finance give you the freedom to use the funding you receive in a variety of ways. Not only does this type of loan allow you to build working capital, but it also gives you the ability to purchase and improve property, refinance, or consolidate debt. Our stated income loans come with the following terms.
- Loan amounts up to $500,000
- Warehouse, retail, and office properties qualify for up to 65 percent LTV
- Investment properties qualify for up to 70 percent LTV
- Multi-use properties qualify for up to 75 percent LTV
- Borrowers with a credit score of 600 or more qualify
- 25-year, amortized loans with fixed rates
- W-2 and self-employment documentation
- Nearly any property type qualifies
Differences Between Stated Income and Traditional Loans
A traditional loan requires a significant amount of paperwork and typically focuses on the credit history of the borrower, so if you have poor or limited credit history, you may have trouble securing the funding you need.
In contrast, a stated income commercial real estate loan focuses solely on the value of the property in question. If the value exceeds the cost of the property’s taxes, mortgage, and insurance, it qualifies for a stated income loan, regardless of which type of property it is.
Get the Funding You Need Today
If you want to grow your business, whether it is a small startup or a large corporation, you need the right funding. Simplicity Capital Finance can supply you with the stated income commercial real estate loans you need, so contact us today to get started.