Get Better Real Estate Financing With a Stated Income Loan
If you are interested in purchasing a commercial real estate property, you may have found that getting financing can be a challenge. Many lenders are extremely risk-averse and few borrowers have perfect profiles. One solution is a stated income commercial real estate loan from Navigate Firm. We can help you with purchasing, renovating, refinancing or consolidating debt.
How It Works
A typical commercial mortgage is based primarily on the borrower’s credit history and financial situation. Lenders examine whether you are likely to repay the loan without taking the property into account. This often makes it difficult for borrowers who will be using the property to generate income.
A stated income loan is more focused on the property itself. If the value is sufficient to cover the mortgages, taxes and insurance, there is a high chance that you will be approved. Furthermore, this requires much less paperwork. Therefore, the process can move faster and be less complicated.
No matter what field you are in, a stated income loan could help you achieve your commercial real estate goals. If you have a property that meets the requirements, then you are likely to qualify also.
The Benefits
Stated income commercial real estate loans are beneficial because they move faster, and borrowers are more likely to be approved. These are some of the other advantages:
- Low qualifying credit score
- High loan-to-value ratios, especially on multifamily residential and mixed-use properties
- Large loan amounts available
- Almost all types of properties are welcome (restaurants, apartments, offices, warehouses and many more)
- Funds available for purchasing, refinancing, debt consolidation, renovation and more
- Fixed-rate, amortized loans with 25-year terms
- Only basic documentation required for most loans
Get Started
Learn more about stated income commercial real estate loans from Navigate Firm today. Contact us to see whether you are likely to qualify. We look forward to helping you to get started.