Your Funding Solution for Stated Income Commercial Real Estate Loans
Stated income loans are alternatives to traditional commercial loans. The focus is on the real estate rather than the borrower’s credit history. In fact, it is a method of obtaining a mortgage without verifying the borrower’s income. The borrower simply states their income and the lender accepts it without confirming that is correct.
Uses for Stated Income Loans
Properties that can be financed under a stated income commercial real estate loan include retail facilities, office buildings, apartment complexes, warehouses, and restaurants. Stated income loans can be used for the following purposes:
- Debt consolidation. Consolidate monthly expenses such as business credit card debt and equipment leases to save thousands each month.
- Property purchase. If you’re paying rent on a building that you‘re ready to purchase for your business or if you’ve found the perfect investment property, a stated income commercial real estate loan can help you obtain the money you need to make the purchase.
- Property investments. Solomon Commercial Lending has the resources to help you get the money you need to make property improvements, such as replacing the roof on your building or expanding your parking lot.
- Working capital. A stated income loan can provide cash to satisfy bills while waiting for receivables to come in or to take advantage of deals on inventory.
- Refinance. Refinance a high or adjustable rate loan or balloon mortgage with Solomon Commercial Lending’s 25-year fixed rate loans that never adjust or balloon.
One primary advantage of a stated income commercial real estate loan over a traditional commercial real estate loan is that the approval process is significantly faster because there are fewer documents required for the borrower to qualify.
Get Funded Today
Find out how much Solomon Commercial Lending can save you money by requesting more details on a stated income loan today. Our specialists are here to help get you the funding you need.