New Stated Income Commercial Loan Program
Stated Income Programs for Commercial property mortgage loans allow our borrowers to avoid the additional paperwork associated with verified income loan programs. The fast approval process and great terms make our Stated Income Commercial Loans one of our most popular programs.
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Stated Commercial Property Loan Overview:
Stated Income Highlights
No Income Verification
Individuals, DBA, Corporation, LLC, Trusts
All Commercial Properties
Commercial Construction
Land Loans
No 4506T Required
Blanket Loans
No Seasoning on Employment
Equity Gifts
Purchase and Refinance
90% CLTV
Appartment Building Loans = 85% LTV
Stated Income Small Commercial
5+ Units & Mixed-use = 70% LTV
Loan Amounts to $5,000,000
Purchase, Refinance, Cash Out
Debt Service Ratio < 1.20
3, 5, 10 year fixed rate
30 year amortized
FICO 650
Automotive Services = 65% LTV
Land Purchase Loans = 50% LTV
Construction Loans = 95% LTC
Office Building Loans = 65% LTV
Retail Property Loans = 65% LTV
Stated income commercial loans are available for many of our programs and can be utilized by borrowers who do not qualify for traditional or conventional portfolio loan programs or borrowers who have been declined by other lenders. Top reasons for acquiring a stated loan include:
- Unavailable income documentation
- Simple application requirements
- Quick loan funding process
- High net worth
- High Debt Service Ratios (DSCR)
Why Stated Commercial Loans are Ideal
Stated income commercial loans have underwriting guidelines that are more tolerant of risk. Therefore, you are able to avoid the many restriction that are associated with conventional portfolio commercial lending. Custom Morgage is able to approve and fund commercial loans transactions that may have been declined elsewhere.
Stated Income Loans for Multifamily and Commercial Income Properties
Stated Income Loans Multi-Family Properties
1 – 4 Units Investor – Nationwide
Loan Amounts to $50,000,000
Purchase, Refinance, Cash Out
Debt Service Ratio Min 1.20
3, 5, 10 year fixed rate
30 year amortized
FICO 650
70% LTV
*** Adjustments – WSJ Prime + 4% – 2% yearly max – 6% life cap over start rate
