Your Ideal Loan for a Commercial Property
Do you want a property loan that can be approved quickly and without large amounts of paperwork? We can help you with that. A stated income commercial real estate loan from 123 Financed commercial brokerage. can provide you with the working capital you need to fulfill your property projects.
Understanding This Loan
There are two aspects that set a stated income loan apart from standard bank loans. First, they are generally approved in a short amount of time because you don’t have to fill out as much paperwork or provide a long list of documents. Instead, you need to show proof of income to qualify. Second, your credit score needs to be at least 600 but the property’s cost value is more important to the lender. As such, the insurance, mortgage and taxes of the loan should be taken care of by the property’s value.
However, just because these stated income commercial real estate loans are different does not mean we skimp on the terms we offer as part of the financing agreement. Your business can enjoy the following terms:
- $500,000 in financing
- Fixed rates
- An LTV maximum falling between 65% to 75%
- Term length lasting a maximum of 25 years
Benefitting From This Loan
Your property may have a range of needs, which is why our loans can be used for many different reasons on a variety of properties. For example, you can use this loan to remodel or even build a property. You can also purchase real estate or refinance a property. Plus, if you need to consolidate debt, you can do that, too. The following are examples of types of properties a stated income commercial real estate loan can be applied to:
- Office spaces
- Retail stores
- Rental housing
- Storage facilities
- Auto service shops
Call for Your Financing
We’ve made financing your property easy with our stated income commercial real estate loan. Simply call us to learn more or apply today.