Get the Investment Property You Want with a Stated Income Loan
Many business owners would love to own a building for their company. It offers so much flexibility for operations when owners have the freedom to call all the shots. Sadly, once they’ve been turned down once for a traditional mortgage, many entrepreneurs give up on the idea.
You don’t need to let that happen to your business goals. At Kenbry Capital, we offer alternative solutions that are simple to qualify for and flexible for owner needs. Learn more about stated income commercial real estate loans today.
An Amazing Alternative for Real Estate Purchases
The reason that conventional mortgages are hard to qualify for is that they carry tons of strings: the perfect credit rating, tons of financial documents, great annual revenue, and outside collateral. If your business doesn’t meet those qualifications, you shouldn’t give up. Stated income commercial real estate financing bypasses some of those requirements completely and offers a lower bar for others:
Average credit acceptable
Excellent repayment terms of up to 25 years
Simple document requirements
No supporting records for revenue
No personal or business collateral needed
Financing You Can Trust
Stated income loans are popular with many companies looking for more flexible financing. Real estate businesses often use these loans because they close more quickly than conventional mortgages. Business owners that have past credit issues can also benefit.
To get started, you need to submit a simple application with details about the property you’re looking to purchase. After the property is appraised, you can get a loan for a percentage of the real estate’s value. This percentage is called the loan-to-value ratio, and it depends on the type of property you’re interested in. Generally, the LTV ranges from 65% to 75%.
Stated income commercial real estate loans are compatible with property purchases and remodeling, including buildings that need considerable work. To learn more, contact our team today.