We Can Approve Your Stated Income Commercial Real Estate Application Quickly
Have you considered getting a stated income commercial real estate loan when you want to buy a piece of property quickly? What are you waiting for? Such a loan is easy to obtain and can provide a large amount of money to support a variety of real estate projects. Here at Rushview Commercial Funding, we frequently grant stated income loans to business owners who don’t want to deal with big piles of paperwork or weeks waiting for approval.
What You Should Know About Stated Income Loans
Stated income loans base their approval on property value instead of credit history. While you do need a minimum credit score to apply, a stated income loan focuses more on property value. As long as the property you’re getting ready to purchase is valued high enough, you have a great likelihood of approval. You just need to make sure the value of the property is greater than the taxes, mortgage and insurance of the stated income loan. Here are some general loan basics.
- You can receive as much as 75% loan-to-value for qualifying types of properties
- Each loan comes with fixed rates and is amortized
- A qualifying credit score of at least 600 is required
- We’ll need to see your self-employment or W-2 documentation when you apply
It doesn’t matter what type of property you purchase. We frequently extend this type of financing for apartments, warehouses, real estate and more. Depending on your qualifications, you could get a large loan amount (as much as $500,000)! Qualifying individuals use their new funds for many different things, including debt consolidating, purchasing property and building working capital.
If you’re looking for rapid financing and you don’t want to deal with the time-consuming process of getting a bank loan, ask us about our stated income commercial real estate solution. Within just a few minutes, you could apply for this popular loan solution that offers financing in minimal time.