Stated Income Commercial Real Estate
Get a Loan Based on Your Stated Income
Are you looking for a loan that’s easy to qualify for and doesn’t come with loads of paperwork? You should learn more about the stated income commercial real estate program we offer here at Skogen Capital Lending.
What’s Different About a Stated Income Loan
A stated income loan provides you with the quick cash you need to invest in or purchase commercial real estate. But it’s a little different from a standard loan in a few key ways. First, it’s generally easier to qualify for. Second, approvals are based on the value of the property you’re getting ready to buy (while standard loans are based primarily on credit). Third, there is not as much documentation required with a stated income loan, so it tends to be approved more quickly than a traditional loan.
Here are a few additional loan basics you should know about if you plan to apply for one of our stated income commercial real estate loans:
- You can get as much as 75% loan-to-value (depending on the type of property in question and your credit score)
- Our loans are amortized and come with fixed rates
- Terms go out as long as 25 years
We do need to see self-employment documentation for you to qualify, and it is necessary to have a minimum credit score of 600. But most business owners have no problem meeting these qualifications. No matter what type of real estate you’re interested in, one of our stated income loans can help you meet your goals of purchasing it, improving it, and/or refinancing it. You can even consolidate your debt through our stated income program.
If you’re in a tight spot financially but you want to purchase or improve a piece of real estate, a stated income commercial real estate loan may be precisely what you need. Contact us to request your application so you can get started right away.