The Benefits of Choosing a Stated Income Real Estate Loan
If you are trying to purchase, renovate or refinance a commercial real estate property, you may find that it is difficult to get a loan. Perhaps you have less than perfect credit or multiple current mortgages. Additionally, you may find that the conventional loan process is slow. VP Capital Lending can help with a stated income commercial real estate loan.
What Is Stated Income?
A stated income loan focuses primarily on the property in question. Rather than providing extensive documentation to prove your income, you can simply state it with basic documentation. If the property is sufficiently valuable to cover the mortgage, taxes and insurance, there is a high chance that you can get approved.
This differs from a conventional commercial mortgage because your credit and income are lower priorities. Additionally, since there is less documentation, the process can move much more quickly. This makes stated income loans ideal for fast-moving investment opportunities. If you need to get financing quickly to make your project a reality, a stated income commercial real estate loan may be the right option.
These loans are available for any income-generating property. Whether you deal in apartment buildings, office space, warehousing, retail outlets or any other type of business, VP Capital Lending is happy to work with you.
What You Need To Know
This type of loan is preferable for many borrowers due to its simplicity and flexibility. There are many advantages to choosing a stated income loan.
- You can qualify with a credit score as low as 600.
- We offer fixed-rate, 25-year loans with amortization.
- You can receive up to $500,000.
- We offer generous loan-to-value ratios up to 75% for multiunit residences.
- Almost any building type can qualify.
- You only need to provide a W@ or self-employment documentation.
Are you interested in a stated income commercial real estate loan? Contact VP Capital Lending today to learn more and get started.