Stated Income Commercial Loans

Are you looking to coordinate a very time limited or challenging transaction? Do you have a need for an underwriter who can understand your unique financial picture? Are you a property investor that owns multiple homes or apartment complexes? You may want to consider a stated income loan. Commercial Mortgage Depot (CMD) is a direct lender for stated income commercial loans in New York, New Jersey, Connecticut and Pennsylvania. This week, our Clifton, NJ team is here to tell you why you want a CMD Stated Loan.

How Stated Income Commercial Loans Work

A stated income loan sounds exactly how it works. The borrower may be able to state their income without having to furnish pay stubs and tax statements to gain approval. Many borrowers of stated income loans also own investment properties. Alternatively, they may have urgent needs to pay for or other emergencies. You can use a CMD stated loan for rehabs, cash-out, purchases, and more.

During the underwriting process of a stated income loan, the borrower can provide bank statements as documentation of their worth. Sometimes they will be asked to provide a larger down payment if they have a sizeable amount of debt. If the loan is of higher risk, then the lender may require a higher credit score or charge higher interest rates, as well. CMD can provide interest rates in the single digits for stated income commercial mortgages. Here are some other factors:

• Obtain an amount range from $100,000 to $5,000,000 in loan size.
• Get loan to values 75% and seller second financing to 80%.
• Lock in a 30-year amortization period.
• Avoid ballooning interest rates and qualify easily and fast.

Working with CMD for a Stated Income Commercial Loan

If you’re worried you will not be able to meet documentation requirements for traditional underwriting, there are huge benefits to working with CMD for a Stated Income Commercial Loan. We will not even require tax statements and can easily verify other sources of income. This is a fast process, even if you are a property investor that owns multiple assets. Use a CMD commercial stated loan for a quick and easy way to finance repairs or renovations. You can also use it to pull out cash, balance books, and repay other debts.

You may have also been declined from another type of loan program for insufficient documentation of income. In this scenario, you may need a less traditional method and manual loan underwriting. Stated income loans are also ideal for people looking to use their assets to get into real estate investing.

Regardless of your reason for needing this unique type of loan program, it is important to get professional help. Commercial Mortgage Depot (CMD) is a direct lender for stated income commercial loans in New York, New Jersey, Connecticut and Pennsylvania. Contact us today for fast pre-qualification and review.