Fund Your Real Estate Goals With a Stated Income Loan
If you have had trouble getting financing for your real estate project or want to move quickly on an opportunity, a stated income commercial real estate loan from Accelerate MD may be for you. This alternative approach to real estate lending makes it easier to get funding with less paperwork. You can use these loans to consolidate debt, purchase property, renovate, refinance or other business activities.
How a Stated Income Loan Works
Unlike a conventional mortgage, a stated income loan is approved primarily based on the property, not your credit profile. You still need to provide basic financial statements in your application. However, if the property has enough value to cover the cost of the mortgage, taxes and insurance, you are likely to be approved.
Better yet, the simpler application process means that you don’t have to wait as long to get a decision. If you have a time-sensitive opportunity, this can be one of the best ways to get funding. Even if you are not in a hurry, getting an approval faster can help with the decision-making process.
We provide loans for almost all property types. If you are in the business of restaurants, warehousing, office space, apartments or anything else, we can likely help provided that the property meets our value requirements.
What You Need To Know
Does a stated income commercial real estate loan sound like a good fit for your needs? These are some of the basics you need to know:
- Qualifying credit scores as low as 600
- Fixed-rated loans with 25-year terms
- Funds for various business uses
- Only basic financial statements needed
- Generous loan-to-value ratio, especially on residential, multiunit buildings
Contact Accelerate MD today to learn more about our stated income commercial real estate loans. One of our representatives will be happy to discuss the possibility further and walk you through the application.