The loan application and approval process is tedious, and unless you have perfect credit history, obtaining the capital you need at an acceptable rate can be difficult. At Artemis Commercial Capital, we recommend stated income commercial real estate loans for consolidating debt, improving property, obtaining working capital, and much, much more.
What Makes a Stated Income Commercial Real Estate Loan Different?
The main reason stated income loans are different than traditional loans is because they focus more on a piece of real estate and less on the credit history of the applicant. Know that the value of the property on the application should be able to cover the taxes, insurance, and mortgage of the stated income loan. These loans are also approved much faster than traditional loans because not as much documentation is needed to secure approval.
Regardless of the industry you are in or whether you operate a small, medium, or large business, you can qualify for one of these loans as long as the stated property meets these requirements.
Requirements for Processing
Here are a few things you should know about stated income commercial real estate loans before you apply:
- You have to have a qualifying credit score of 600.
- We welcome any type of property for these loans.
- The funds you obtain can be used for refinancing, debt consolidation, or anything else.
- We require self-employment or W-2 documentation.
- Loans can amount to as much as $500,000.
- We offer fixed rates and 25-year amortization on funding.
We would be more than happy to help you decide if one of these loans is the right fit for your business. Our financing professionals pride themselves on their expertise and the level of service they provide, so you can rest easy knowing your financing needs will be well taken care of.
Get in Touch With Us Today
Give us a call at Artemis Commercial Capital today for further information. We look forward to meeting your financing needs!