Stated Income Commercial Real Estate
What Can a Stated Income Loan Do for Your Business?
If you own a business, you understand the importance of securing financing to grow the company. You need funding to grow your business in a variety of ways. Many companies choose to seek out traditional banks loans, but because the funding they provide is often designated for specific purposes, they are not a good solution for every business. If you want access to flexible financing, a stated income commercial real estate loan from Plutus Commercial Funding could be beneficial for your business.
How Do You Qualify for a Stated Income Loan?
The criteria for qualifying for a stated income loan are less strict than those for a traditional bank loan. Stated income loans determine eligibility based on property value, so if your company owns any type of real estate with a value that exceeds the combined cost of its expenses, it automatically qualifies for a stated income loan. Credit history does not affect eligibility for this type of financing, which makes this an excellent alternative for new companies. Stated income commercial real estate loans are approved more quickly than other types of financing due to requiring minimal paperwork.
What Can You Expect From a Stated Income Loan?
Flexibility may be the primary benefit of a stated income loan, but qualified borrowers can expect to earn additional benefits when they obtain this type of alternative financing from Plutus Commercial Funding. If you have a credit score of 600 or greater, you will receive the following advantages:
- Loan-to-value rates ranging from 65%-75% depending upon property type
- W-2 and self-employment documentation
- Loan periods of up to 25 years
- Fixed interest rates
- Loan amounts of up tp $500,000
Contact Us Today To See If You Qualify
Securing a stated income commercial real estate loan from Plutus Commercial Funding is a good way to help your company grow. Contact us today to learn more about this financial solution and find out if you qualify.