Stated Income Commercial Real Estate Loans
Many businesses require a property from which to operate. It can take considerable capital to buy or lease a space for your company. We at Rai Commercial Capital can help you get the financing you need with a stated income commercial real estate loan. This alternative form of funding is offered based mainly on the value of the property you are purchasing rather than your own financial standing. It’s a great option for companies with less than stellar credit who may have trouble securing a standard loan or mortgage.
Qualifications for the Loan
In order to qualify for stated income commercial real estate financing you must provide a W-2 or proof of self-employment. Your credit score must be 600 or higher. We then look at the property type to determine the loan-to-value ratio. Several types of loans are available.
- Mixed-use and multi-family properties with at least five units have an LTV of up to 75%
- Investments properties with four units or fewer that are non-owner occupied have an LTV of up to 70%
- Stores, offices, warehouses, car service shops, and self-storage properties have an LTV of up to 60%
Staying within these parameters, we offer stated income loans from $100,000 to $5 million.
Flexible Options
We can also offer fixed-rate soft money loans with full amortization and terms of up to 25 years. Up to $500,000 can be loaned for the purchase of any kind of commercial property. The closing process can happen in as little as two weeks as we expedite it.
Other Loan Uses
You can also use our stated income loans for debt consolidation or refinancing to reduce your monthly payments. Your loan can go to renovations to your existing property or be used as working capital.
If you need a loan for commercial real estate, contact Rai Commercial Capital to apply for a stated income commercial real estate loan.