Reasons To Choose a Stated Income Commercial Real Estate Loan

When you are searching for financing for a commercial real estate project, you may find that lenders are very risk-averse. It can be difficult to get a loan if you don’t have perfect credit or already have a commercial mortgage. A stated income commercial real estate loan from Sceptre Commercial Funding, LLC could be the answer. You can use one for purchasing, renovation or refinancing a building or other funding needs.

What Is the Difference?

A conventional mortgage is evaluated primarily based on the borrower’s income and credit. The process almost completely ignores the value of the property. In a commercial setting, this doesn’t always make sense. Plus, there is a lot of paperwork necessary to prove your financial circumstances.

A stated income loan flips the script. Your qualifications take a back seat to those of the property. If it has enough value to cover the mortgage, taxes and insurance, there is a high chance you can get approved. Since this is a simpler calculation, the process moves much faster also.

We can help with residential buildings, restaurants, offices, warehouses and more. If you have a qualifying building, we are happy to explore funding your project.

What Do You Need To Know?

As mentioned, stated income loans work a little differently than conventional loans. Here are some of the benefits of the former:

• Credit scores of 600 and up can qualify.
• They have terms of 25 years and are amortized.
• You can receive up to a 75% loan-to-value ratio on certain property types.
• Only basic documentation is necessary.
• Almost any property is welcome.
• You can use the funds for a purchase, refinancing, renovation or debt consolidation.
• We can offer large loan amounts.

Get in Touch Today

Contact Sceptre Commercial Funding, LLC today to learn more about our stated income commercial real estate financing. One of our representatives will be happy to help you get started.