Providing an Alternative Loan for Commercial Properties
Traditional loans aren’t always ideal for some businesses, which is where stated income commercial real estate financing comes in. Here at Xcellerated Business Funding, we can provide you with the financing you need to complete your commercial real estate projects.
How To Use the Loan
This is a multi-purpose loan that can be used on a variety of properties, including housing, food establishments and warehouses, among others. More than that, this loan can be used in many ways, including the following:
- Debt consolidation
- Remodels and new construction
- Working capital
- Buying real estate
What Our Loan Terms Are
If you think this is the right loan for you, make sure you have the appropriate income documentation, such as a W-2, and a credit score of 600. Once you qualify, you can enjoy the following aspects of our loans:
- Up to $500,000 in financing
- LTV falling between 65% and 75% as the maximum
- Fixed rates
- Terms lasting as long as 25 years
What Makes a Stated Income Loan Different
You may be thinking that a stated income loan is the same as a traditional loan, but there are two key differences that set them apart. First, a borrower does not need to show as much documentation or fill out as much paperwork with a stated income loan. In turn, this means these loans are approved more quickly than traditional loans.
The second difference concerns the overall value of the piece of real estate in connection with the loan. In short, the loan’s insurance, mortgage and taxes need to be covered by the total cost of the property.
Contact Us for an Application Today
Financing your commercial property project is easier than ever with stated income commercial real estate financing from Xcellerated Business Funding. We offer free consultations to help you choose the financing that is right for you and can provide you with an application to fill out for the financing of your choice. Simply give us a call today to get started.