Stated Income Commercial Real Estate Loan

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Are you tired of being turned down for loans because of a shaky credit history or the complete lack of one or do you dislike applying for loans because of the extensive application process and mass amounts of paperwork? There's an easier way and the specialist at Titan Group are here to help. 

A stated income loan can be used for any number of reasons, including improving property, purchasing property, consolidating debt, building working capital and refinancing. To decide whether this type of financing is ideal for your business, consider the following:

• Fixed rates for up to 25 years
• Great for just about any property type
• Qualifying credit score of 600
• W-2 or self-employment documentation
• Loans of up to $500,000
• Loan-to-value rate of up to 75% for properties that contain five or more units and that are for mixed use or multiple families
• An LTV of up to 70% for investment properties of between one to four units that are not occupied by owners
• Up to 65% LTV for auto service, office, retail, warehouse and self-storage properties

A stated income loan differs from a traditional loan in that when you apply, lenders look toward the value of the property in question as opposed to your credit history. The value of the property must be able to cover the mortgage, insurance and taxes of the loan. Because the only documentation you need to provide when applying is the property assessment, approval for stated income loans typically happens much more quickly than it does with traditional loans.