Can a Stated Income Commercial Real Estate Loan Benefit Your Business?
If you want to give your company a solid foundation to build upon so it can reach its full potential, you need to secure flexible financing so you can grow the business in many ways. A stated income commercial real estate loan could be the perfect financial solution for your company and NeoVation Business Solutions & Services provides this type of financing to businesses of every size.
What Are the Advantages of Stated Income Loans?
You are free to use the money you receive from a stated income loan in any way to enrich your business. With loan amounts of up to $500,000, you are free to stock inventory, consolidate debt or refinance as necessary. NeoVation Business Solutions & Services offers the following benefits to applicants with credit scores of at least 600.
- 25-year terms with fixed rates
- 65% LTV for commercial properties
- 70% LTV for owner-occupied and investment properties
- 75% LTV for mixed-use and multi-family properties
- W-2 and self-employment documentation
How Are Stated Income Loans Different From Traditional Financing?
You can typically expect to receive the money you need more quickly from stated income loans than with traditional forms of financing because the former option requires less documentation and paperwork. The qualification process for each type of financing is different. Traditional loans are usually only approved if the borrower has a good credit history while stated income loans focus instead on the value of the company’s property. If the property’s value is greater than the cost of its mortgage, insurance and taxes, it qualifies for a stated income loan.
Get Started Today
You need access to flexible financing if you want your business to grow, and stated income commercial real estate loans can supply you with the funding you need to enrich your business. Contact NeoVation Business Solutions & Services today to learn more about how this avenue of financing can benefit your business and see if you qualify.