How a Stated Income Commercial Real Estate Loan Can Be Beneficial for Your Business
If you are unable to qualify for traditional loans due to a poor credit history, you may still qualify for a stated income real estate loan if you need to acquire some property. With Grecco Capital Finance, we can help you obtain the funds you need for property to grow your business. With the funds you receive, you can purchase, improve and refinance property in addition to consolidating debt and generating working capital.
What Are the Basics of a Stated Income Loan?
Qualifying for a stated income real estate loan is typically much easier than other types of loans. When you receive this type of loan from Grecco Capital Finance, you can expect funding with the following basic terms.
- Funding can be used for any purpose, including debt consolidation, refinancing and purchasing
- Up to 60 percent LTV for commercial properties
- Up to 70 percent LTV for investment properties
- Up to 75 percent LTV for multi-use properties
- A credit score of 600 qualifies for this type of loan
- Loan amounts can be large, up to $500,000
- Nearly any type of property qualifies
- 25-year amortized loans with fixed rates
- Documentation for W-2s and self-employed workers
How Are Stated Income Loans Different From Traditional Ones?
Many people who do not qualify for a traditional loan are able to receive stated income loans from Grecco Capital Finance. While traditional loans focus mainly on the credit history of the borrower, a stated income real estate loan is based on the piece of property in question. As long as the value of the property covers the mortgage, insurance and taxes of the loan, it qualifies for the loan.
Stated income loans are also approved more quickly than traditional ones because they require less paperwork and documentation. Any piece of property that meets the requirements qualifies for the loan, from restaurants and offices to apartments and warehouses.
Contact Us Today
Whether you are looking to launch a new company or expand an existing one, Grecco Capital Finance can supply you with the stated income loan you need to thrive. Contact us today to find the perfect financing option for your business.