How Easy Is Qualifying for Stated Income Commercial Real Estate Financing?

It’s the dream of every business owner to purchase a commercial property. That said, some owners are also afraid of applying for a loan and getting turned down. At Stirling Capital Group, we can help put your fears at ease. With a stated income commercial real estate loan, qualifying is simple and fast. Our team helps you every step of the way.

What Are the Requirements?

First, let’s talk about what you don’t need to qualify. It’s not necessary to have a spotless credit history or excellent credit. You don’t have to provide tons of financial documents or tax returns. In fact, as far as your business’s income is concerned, you can just provide a rough estimate on the application. So, what do you need to get started?

• Documentation showing the value of the property you want to purchase or remodel
• Property value that covers the cost of the loan, taxes and insurance
• Fair credit score (about 600)
• Basic W2 or self-employment documents
• Money for a down payment

As you can tell, the application process is much simpler than with traditional real estate loans. The reason it’s so much easier is that the property acts as collateral for the loan, which makes qualifying a breeze.

What Are the Terms Like?

Another common question is what the terms are like for stated income commercial real estate loans. The interest rates aren’t as low as a conventional real estate loan, but they’re significantly better than bridge loans or short-term financing. Here’s everything you need to know:

• Fixed interest — no surprises
• Long repayment terms of up to 25 years
• Good interest rates
• Flexible payment options
• Different loan-to-value ratios depending on property type

We provide significant LTV, which helps lower the size of the down payment required. You can get prequalified in a short time. That way, you don’t have to wait to make your goal of owning an attractive business property into reality. Contact us today to begin.