Is a Stated Income Loan Right for Your Property?
Choosing the right loan for your property is of the upmost importance, especially if you do not want a traditional loan from the bank. A stated income commercial real estate financing from Frontier Capital Financing could be the answer. This can help you achieve your business goals without all the red tape from a traditional loan, which makes it easier on you.
Understanding a Stated Income Loan
The first thing you must understand is that this is not your average bank loan. Rather, it is approved quickly and requires minimal amounts of paperwork, such as your proof of income in the form of a W-2 or self-employment papers. Another aspect that sets it apart from traditional loans is that your credit is not the main priority. Yes, you do need 600 on your credit score to qualify, but the property’s value carries more importance. As such, the loan’s insurance, mortgage and taxes need to be covered by the value of the real estate.
Reaping the Benefits
As soon as you receive this loan, you can begin reaping the benefits. That’s because a stated income commercial real estate loan can be used in so many ways, including for refinancing, acquisitions, buying or building real estate, remodeling properties and consolidating your debt. If that’s not enough, you can also use this financing on a variety of properties, such as:
- Auto centers
- Retail stores
- Office buildings
Enjoying the Terms
We believe our terms are also quite generous. You can enjoy the following terms as part of your loan agreement:
- Closing in as little as two weeks
- Terms for 25 years
- Fixed rates
- 65% to 75% LTV rates
Apply for This Financing Today
Does a stated income commercial real estate loan sound like the right option for your business? If it does, contact Frontier Capital Financing today to begin your application with the expert help of our team.