How To Know If a Stated Income Loan Is Right for Your Business
A stated income commercial real estate loan is an alternative to traditional financing. Because any type of property is eligible for a stated income loan, it is a great financial solution for many businesses. 360 Commercial Capital allows you to use the money you receive from a stated income loan in any way you deem necessary to improve your business.
What Are the Benefits of Stated Income Loans?
There are three major benefits of securing a stated income commercial real estate loan over traditional financing. Firstly, this avenue of financing is flexible and allows you to use the funds in any way you deem fit. Secondly, stated income loans are often approved more quickly than other types of financing because they minimal paperwork and documentation. Finally, they are easier to qualify for because they determine eligibility based on property value rather than credit history. Your business automatically qualifies for a stated income loan if the value of its property is greater than the cost of its expenses.
What Are the Terms for Stated Income Loan?
While flexibility is the most obvious benefit of stated income loans, 360 Commercial Capital offers additional advantageous terms for borrowers with a credit score of at least 600. In addition to qualifying for loan amounts of up to $500,000, you could also earn the following benefits.
- W-2 and self-employment documentation
- 25-year terms with fixed rates
- Up to 65% LTV for commercial properties, including warehouses, storage facilities, office buildings and retail spaces
- Up to 70% LTV for investment and owner-occupied properties
- Up to 75% LTV for mixed-use properties
Get Started Today
Stated income commercial real estate loans allow you to grow your company in a variety of ways. If you think this financial solution is right for your business, contact 360 Commercial Capital today to discuss your needs and see if you qualify for a stated income loan.