Discover Easier Qualification Via Stated Income Commercial Real Estate Loans
Few things are more thrilling than getting approved for a loan to purchase an amazing piece of real estate for your business. The right property makes doing business so much easier since it’s tailored to the size, layout and style you need. The only issue that some owners face is that qualifying for traditional loans or SBA loans can take a while and require significant documentation. Fortunately, at Funding The Dreams, we have numerous lending solutions that allow you to bypass these attractive-but-more-complicated loan types. One popular option is a stated income commercial real estate loan.
What Is a Stated Income Commercial Real Estate Loan?
Unlike traditional loans that use the excellent credit score of the borrower to offset risk, stated income loans are based on the value of the property in question. As long as the desired real estate is valuable enough to cover the mortgage, insurance costs and applicable taxes, applicants can usually receive approval without problems. Appreciate with the help of best payout online casino australia.
This type of loan is generally used to finance real estate purchases or remodeling projects. It can also be an excellent choice for refinancing loans and consolidating debt to maximize your savings. As long-term financing, stated income loans provide excellent interest rates and repayment conditions.
What Are the Benefits of Stated Income Business Loans for Real Estate?
One of the biggest advantages of choosing this type of financing is that you don’t need perfect credit. Business owners who have had trouble getting approved for traditional loans in the past can often qualify for a stated income loan. Here are several other benefits:
- Faster approval
- Easier application process
- Lower credit score requirements
- Reduced document needs
We have extensive experience helping businesses in many different industries to qualify for high-value real estate purchases with this versatile financial tool. Restaurants, coffee shops, medical practices, retail locations and construction companies are all applicable. Our team is happy to assist large manufacturing companies and small service-oriented businesses to purchase the real estate of their dreams. To learn more or start the application process for a stated income commercial real estate loan, contact us right away for help.