Stated Income Commercial Real Estate

Obtain a Faster Loan With Stated Income Commercial Real Estate

A typical loan approval process generally comes with piles of paperwork and extensive credit checks. What if there was a way to do away with these formalities and speed up the process? A stated income commercial real estate loan from Heritage Capital Solutions can make this a reality. A stated income loan can be used to help purchase property, consolidate debt, upgrade a property and more.

Traditional Loans Versus Stated Income Loans

While traditional loans often require verified credit history, stated income loans instead rely on the value of a piece of commercial property to cover the taxes, insurance and mortgage of the loan. This often means that they are approved much faster than traditional loans. Any type of commercial real estate property can qualify as long as that property meets certain criteria. Some examples of commercial properties that qualify include the following:

  • Apartments
  • Warehouses
  • Restaurants
  • Office Buildings
  • Self-Storage

The Basics of a Stated Income Loan

There are several things to keep in mind when considering this type of loan. It can be the right option for a self-employed individual with a credit score above 600. The loans are on a 25-year amortization at a fixed rate, so there is no risk of increased payments as the loan matures. Borrowers can choose to use their funds for refinancing, debt consolidation or purchasing. Also, its possible to have large loan amounts approved—some as high as $500,000.

When considering the loan-to-value ratio for auto service, self-storage, warehouse and office properties, the number can reach up to 65 percent. Investment properties that are non-owner occupied can see an LTV ratio of up to 70 percent. LTV rates of up to 75 percent are reserved for mixed-use or multifamily properties with five or more units.

Contact Heritage Capital Solutions Today

Reach out to us with questions or inquiries and find out if a stated income commercial real estate loan is for you. Loans can be approved in just two to three weeks.