Getting the Most Out of Your Property With Real Estate Financing
When you need a loan that doesn’t require stellar credit or a mountain of paperwork, then consider a stated incomes commercial real estate loan from Greenfield Capital Partners. This kind of loan is ideal for property improvements, debt consolidation, property purchases and creating working capital.
How Stated Income Loans Are Different
Instead of focusing on your credit score, a loan of this type looks at the value of your property. If your property can cover its own expenses, such as mortgage, taxes and insurance, then you may qualify for a stated income commercial real estate loan. Many different properties can qualify, including:
- Real estate
Basic Loan Information
When it comes to qualifying, we cut as much unnecessary paperwork as possible. However, there are a few basics that need to be covered. Here are some things to expect us to ask about.
- Credit score, but it doesn’t have to be top notch
- Property value
- Documentation of income, such as a W-2
When you qualify, we offer loans of up to $500,000 with a variety of great benefits. These fixed-rate, 25-year amortized loans offer great loan-to-value (LTV) rates and can be used for whatever you business needs. LTV rates depend on the property type, in the following ways:
- Office, auto service, retail, self-storage and warehouse properties have up to 65% LTV
- Non-owner occupied investment properties with one to four units have up to 70% LTV
- Mixed use and multifamily properties with five or more units have up to 75% LTV
Use Your Money to Benefit Your Business
After qualifying for a stated income commercial real estate loan, you can use the money in a variety of ways. Maybe your building needs a facelift, you can fund that work with this loan. You can also use the funds to acquire a neighboring building to expand into.
Today’s a great day to find out more. Our financial experts can answer your questions and get you started on an application.