Get the Real Estate Funding You Need With a Stated Income Loan
Getting a conventional real estate loan can be a slow process, especially if you have less-than-ideal credit or have other active loans. It also requires a lot of paperwork. If you want a funding option that is easier to apply for and offers more generous approval rates, consider a stated income commercial real estate loan from Sudden Rivers Capital Corp.
How Stated Income Loans Work
Traditional real estate loans focus on the borrower’s credit history. Stated income commercial real estate loans focus on the piece of property in question instead. The value of the real estate must be sufficient to cover the mortgage and other costs of the loan. This approach to lending allows faster turnaround times and fewer documentation requirements.
Borrowers use stated income loans to consolidate debt, purchase new property, improve existing property, build working capital and more. Whatever your need, this unique type of loan may work for you. The fast turnaround times and minimal paperwork requirements make this loan type ideal for taking advantage of real estate opportunities.
Stated income loans are available for almost any property type and simply need to meet the value-based requirements. So, whether you work in restaurants, warehouses, residential buildings or any other type of real estate, you may be able to qualify for this type of loan.
- Lower credit score requirements
- Fixed rates
- Long loan terms
- Almost any commercial property type is welcome
- Funds can be used for purchasing, refinancing or various other purposes
- Only basic documentation required
- Large loan amounts
- Excellent loan-to-value ratios, especially for investment properties
If a stated income commercial real estate loan sounds like a promising option for you, contact us today. One of our Sudden Rivers Capital Corp team members will help you determine if this is the right path for you with a free consultation. You could be closing on that new property in a matter of weeks!