Your Guide to a Stated Income Commercial Real Estate Loan

Have you applied for loans in the recent past and been turned down due to your credit history? Do you need significant capital upfront but don’t want to deal with the paperwork and hassle that comes with a traditional loan? If so, talk to Ascent Business Capital about stated income commercial real estate loans. If approved, you can use this type of loan for any business purpose, including but not limited to purchasing property, consolidating debt, refinancing, improving property, or even building working capital.

The Difference Between a Stated Income Loan and Traditional Loan

A stated income loan is a loan pulled out against a piece of property that an aspiring borrower wishes to purchase, remodel, refinance, or improve. For this reason, approval is not dependent upon the applicant’s credit score, but rather, the property’s value. The value of the piece of real estate in question must be able to cover the taxes, mortgage, and insurance of the loan. Because the only documentation a person need present at the time of application is in regard to the property, approval for this type of loan is fairly quick and easy.

The Basics of a Stated Income Real Estate Loan

This type of financing is not for everyone. To determine whether it’s right for you, consider the following information regarding this loan type:

  • Comes with fixed rates
  • Requires a qualifying credit score of 600
  • Proof of self-employment or a W-2 required
  • Loan amounts of up to $500,000
  • Up to 75 percent loan-to-value, depending on the property in question
  • Any type of property welcome

Whether you deal in warehouses, real estate, apartments, restaurants, or any other type of business, you may qualify for a stated income commercial real estate loan so long as the property meets the requirements.

Contact Us Today

Whether you’re having a hard time gaining approval for a traditional loan or you want to forego the hassle of applying for a standard loan, a stated income real estate loan may be right for you. Contact Ascent Business Capital today to discuss the option in greater detail.