* NO Tax Returns
* NO W-2's
* NO Balloons
* NO Checking Account Statements Needed
* 30 year Fully Amortized Fixed Rate
This can be very useful for the business owner or professional real estate investor, since the banks are very tight with lending on income and investment properties. They not only calculate a properties Debt Service Coverage Ratio but the owner's or buyer's personal Debt Debt to Income Ratio as well. Needless to say there are many who can't quite qualify for a bank loan with the new regulations and need to refinance or purchase a commercial real estate property. This type of commercial stated financing easily gives you the opportunity to take advantage of a currently fast paced commercial real estate market and rising property values. Typical completed transactions take 4 - 5 weeks from application. Do you want to pay off your SBA loan into a more comfortable 30 year fully amortized commercial loan? Do you want a short term Fix-And-Flip Loan for residential 1 to 4 unit properties at low interest rates?
A true Commercial Stated Income loan. The perfect type of loan if you can't provide tax returns for some reason or don't want to provide tax returns because of excessive write offs that keep you from qualifying at your local bank. That's fine, we don't care what your tax returns show - No debt to income ratio (DTI) review ever. Even with a Bankruptcy just discharged, you can still qualify for a stated income mortgage. This program lets you refinance up to 75% or your appraised commercial property or investment non-owner residential value.
* Loan Amounts from about $100,000 to $5,000,000
* As long as your credit report has a mid-score of FICO 650 for the maximum LTV
* FICO Scores of 650+ up to 75% LTV
* FICO Scores down to 590 for up to 65% LTV (Coming back soon)
* No more than two mortgage lates in the past 12 months
* Not available in low density or rural areas