A Great Loan for Commercial Real Estate
A quick loan that skips over much of the paperwork required for a conventional loan, a stated income commercial real estate loan can be a boon to businesses. At Adventure Capital Group we are experts in providing these loans to companies who would like to consolidate debt, improve property, purchase property, and refinance property.
For a stated income loan, the value of the property must cover the mortgage, insurance, and taxes. The loan doesn’t require all the documentation of a traditional loan, meaning the processing time is quicker. These loans are good for a variety of properties, including apartments, warehouses, restaurants, offices, or retail space.
What You Should Know
There are some guidelines you should know before you try to secure a stated income commercial real estate loan:
- They are fixed rate, 25-year amortized loans
- You need a credit score of at least 600
- You need to show a W-2 or self-employment documentation
- Loan amounts up to $500,000
- Funds can be used for purchasing real estate, debt consolidation, or refinancing
- Up to 65% LTV for self-storage, warehouse, automotive, retail, and office properties
- Up to 75% LTV for non-owner occupied investment properties
The Advantages of a Stated Income Loan
With this type of loan, you’ll spend less time chasing around paperwork and more time doing business. Closing can occur in as little as two to three weeks. This allows you to take advantage of a hot, fast-moving real estate market. In tight markets where the most desirable properties sell quickly, a stated income loan helps you move quickly and secure the property you want. It’s also a good loan for companies who have a less than desirable credit history that they would like to work around.
Contact Adventure Capital Group today to start the process. Our financial team is standing by, ready and waiting to answer your questions. Let us help your business grow.