How a Stated Income Commercial Real Estate Loan Can Help You
Are you looking for funding for a commercial real estate project but struggling to find it? Do you need money now to take advantage of a limited-time real estate opportunity? A stated income real estate loan from Ambition Funding Solutions may be the solution for you. It can be used for consolidating debt, buying property, renovating property, refinancing an existing loan or establishing working capital.
How Stated Income Differs From a Conventional Loan
With a traditional loan, you provide your financial statements including proof of income and the bank decides on your creditworthiness. A stated income loan, however, does not require this same documentation. Instead, the decision is made primarily based on the value of the property in question. Therefore, it can be approved more quickly and with much less paperwork than a conventional loan.
If you need funding for your commercial real estate project, this could be for you. We work with food service, residential, industrial and all other building types. If you have a property that is sufficiently valuable to be eligible, we can likely work with you.
What To Expect From the Loan
To qualify for a stated income commercial real estate loan, the value of the property much be able to cover the mortgage, taxes and insurance for the loan. These are some of the other characteristics of the loan:
- Relatively low qualifying credit scores
- Fixed-rate, amortized loans
- Almost any property type eligible
- Generous loan-to-value ratios
- Funding available for many business purposes
- Only basic documentation required
You can use a stated income loan for an investment property or an owner-occupied location. If you have a project that you need fast and flexible funding for, this may be the right choice for you.
Learn more about stated income commercial real estate loans from Ambition Funding Solutions by contacting us today. A representative will help you get started with a free consultation and financial analysis.