How a Stated Income Commercial Real Estate Loan Can Help You
It can be humiliating to be turned down for a small business loan, but you should know you’re not alone. Many startups face the same challenge and can’t get a traditional loan because they don’t have a good enough credit history or sufficient collateral. Fortunately, Vashon Capital is aware of the challenges startups face, and we work with lenders who offer a stated income commercial real estate program that can give you the financial flexibility you need to succeed.
Our lender’s stated income loans aren’t issued only on the basis of the borrower’s credit history. Instead, they examine the property in question to determine if it has enough value to cover all costs associated with it (taxes, insurance, mortgage, etc.) If the property value is high enough, you have a great chance of being approved, even without a perfect credit score. Additional program basics include:
- Fixed low rates
- Self-employment documentation or W-2 required
- All property types welcome
- Up to 65% loan-to-value for certain properties (including but not limited to warehouses, retail buildings and offices)
- Investment properties of one to four units that are non-owner occupied can receive up to 70% loan-to-value
- Up to 75% loan-to-value possible for certain mixed-use or multifamily properties (with a qualifying credit score)
- Minimum credit score of 600 required for most programs
- Loan amounts as large as $500,000 possible
Once you receive the funds, they’re yours to do with as you please. You can use them to consolidate debt, purchase new properties or refinance if you wish.
In as little as two weeks, you could potentially be closing on your new piece of property if you apply today. We make our application process as simple as possible because we know your time is valuable. To apply for our stated income commercial real estate program or any of our other financial programs, please give us a call.