What are the benefits of a Stated Income Loan?
Traditional fully-documented income loans are not always the most ideal option when it comes to commercial real estate. That is why Boathouse Commercial Funding Group offers stated income commercial loans as an alternative to full documentation loans for businesses like yours. The benefits of stated income loans are you can avoid the cost and hassle of audited financials, collecting rent rolls, justifying expenses, and chasing your accountant….
The Main Differences of a Stated Income Loan
We understand that proving your income can be a tough and time-consuming project that you simply may not have the time and energy for. Therefore, we have programs that focus more on the quality of the property, project, or equipment you are purchasing/refinancing/rehabbing than proving every penny of income. Decent credit, but not necessarily great credit, is required as well.
If you are too busy creating income to take the time to prove your income, we understand. We have many stated income and low documentation financing options to insure you get the financing you need when you need it. Call Boathouse Commercial Financing Group today to get started
The Typical Uses of This Type of Loan
One of the main advantages of a stated income commercial real estate loan is that it can be used in a variety of industries, including real estate, apartment housing, warehouses and restaurants. It can also help a business by purchasing property, remodeling existing property, consolidating debt and even refinancing.
The General Benefits of This Loan
When you finance your commercial property project with us, you can take advantage of many benefits. This include the following aspects of our loan agreements:
- Loan amounts of $500,000
- 25-year loan terms
- Fixed rates
- 65% to 75% LTV
Your commercial real estate project can become a reality with a loan from Boathouse Commercial Funding Group. Contact us and apply for your stated income commercial real estate loan today. Our team of experts is ready to help you obtain the financing you need for your business project.