Stated Income Loans: Fast, Affordable, and Versatile Financing Solutions
Are you new to the small business world? Did a previous business venture leave you with suboptimal credit? Although these types of circumstances can make it difficult to qualify for traditional loans, stated income commercial real estate loans are accessible alternatives that work well for many companies. Our team at Aspen Capital Solutions is proud to offer stated income loans that boost businesses from a wide range of industries.
What Are the Perks of Stated Income Loans?
Our stated income commercial real estate loans have a number of exciting qualities:
- Amounts totaling up to $500,000
- Fixed interest rates
- 25-Year terms
On top of these advantages, our loans are sufficiently versatile to be applied to various business plans. If you plan to open a company such as an auto shop or self-storage facility, you may be able to receive up to 65% LTV. For properties with up to four units that you do not occupy, this value rises to 70% LTV. Multifamily properties with at least 5 units may qualify for 75% LTV.
How Do They Differ From Traditional Loans?
When applying for a traditional loan, your credit history is key. These applications can also be quite time-consuming and entail a great deal of paperwork. We are able to simplify this process when it comes to stated income loans by prioritizing the value of the property you are purchasing.
Our team sets forth a few requirements for our applicants:
- Self-employment or W-2 papers
- Credit score of 600 or more
- Property value exceeding insurance, tax, and mortgage expenses
Stated income commercial real estate loans may be a great way to help your company start strong or get back on its feet. If you are ready to start your application or learn more about this financial solution, call Aspen Capital Solutions today. One of our representatives would be happy answer any questions you may have. To jumpstart the process, take a moment to fill out our online Quick Contact form.