Commercial Stated Income Loans
The stated income commercial loan program is offered on a nationwide basis for loan amounts from $400,000 to $2,500,000 and is unlike any other. Most property types qualify including raw land and churches; we do not finance residential homes. We use a common sense underwriting approach to determine whether your loan will be approved or not.
Types of loans we are willing to consider:
- Borrowers with credit issues are
fine as long as the loan to value is 50% or less and the
property is in a good location and in good condition.
- Borrowers with excellent credit may
qualify for up to 80% financing provided the property is
in good condition and in a good location.
- Almost any property type is
acceptable including raw land, gas stations, churches,
just about anything. We do not offer loans on personal
residences.
Rates range from 11% to 14% and we charge between 1% and 3% at closing.
Loan amounts from $250,000 to $2,500,000
We will consider non recourse loans on a case by case basis provided the loan to value is 50% or below.
We almost never ask for tax returns or bank statements but we do verify assets.
To get started we need the following items: - Completed 1003
- Tri-merge credit report
- Digital photos of the property
- Explanation of the transaction
You may also fill out our brief loan info form.
