Stated Income Commercial Real Estate
A Stated Income Loan Could Help Your Commercial Real Estate Project
If you are interested in buying, renovating or refinancing a commercial real estate property, you may have found that getting financing is easier said than done. Fortunately, TCF Capital may be able to help with our stated income commercial real estate loans. These can help fund your next real estate project or even help with debt consolidation or building working capital.
How It Works
When you apply for a normal real estate loan, your creditworthiness is the main factor considered. If you have enough income and a good credit history, you may get approved. However, the income-generating potential of the property is not a major factor and the process is slow.
Conversely, when you apply for a stated income loan, the property is the main focus. If it can cover the mortgage, taxes and insurance, there is a high chance that you will be approved. As a result of this, the amount of time and documentation needed for the process are significantly reduced, making the process easier for borrowers.
This is an option for restaurants, warehouses, offices, apartments and many other building types. If the building qualifies for a loan, you likely will too.
The Basics You Need To Know
Does a stated income commercial real estate loan sound like a good option for you? These are some of the things you should know about them:
- You can qualify with a credit score as low as 600.
- We can offer up to 75% loan-to-value ratios on qualifying buildings.
- The loans are fixed-rate and amortized with 25-year terms.
- You need only a W-2 or self-employment documentation.
- Almost all property types are welcome.
- We can offer as much as $500,000 for purchasing, refinancing, renovating, debt consolidating or building working capital.
Contact TCF Capital today to learn more about our stated income commercial real estate loans. We will get you started with a free consultation.