An Alternative Way to Get the Financing You Need
If you have been turned down for a loan because of your credit history, a stated income loan might be a good option for you. Our stated income commercial real estate loans can be used for many purposes, including:
- Purchasing or renovating a property.
- Building capital.
- Consolidating debt.
If you are looking for a simple application process for one of these reasons, we can help you get the money you need.
Differences From Traditional Loans
Traditional loans involve investigating your credit history, level of income and many other factors. For stated income loans, however, only one number matters: the value of the piece of real estate you are investing in. The property’s value must be able to cover the amount of the mortgage, as well as taxes and insurance. Because the loan qualifications are so simple, there is much less paperwork involved. This means that stated income loans can be approved more quickly than traditional loans.
As long as the property meets the value requirements, you can qualify for a stated income loan no matter what kind of real estate you deal with. Gladstone Commercial Capital has approved loans for warehouses, apartments, restaurants and many other kinds of businesses.
Loan Basics
These are a few of the factors to keep in mind when considering if a stated income loan is right for you.
- Most property types allowed.
- Fixed 25-year loans.
- Loans as high as $500,000.
- Qualifying credit score can be as low as 600.
We also offer flexible loan-to-value rates depending on the type of property:
- Up to 65% LTV for auto service, retail, office and warehouse property.
- Up to 70% LTV for non-owner occupied investments.
- Up to 75% LTV for mixed-use or multifamily properties.
Call or email us today to find out if a stated income loan is right for your business and get the money you need in three weeks or less!