What Is Stated Income?

Stated loan program for time sensitive and difficult finance transactions. We range from $100,000 to $5,000,000 in loan size, loan to values 75% and seller second financing to 80%, no tax returns required and no income if verified. Unlike hard money loans, our program has single digit interest rates and no balloon payment. There are programs available for no asset seasoning. The program gives the borrower a 30 year amortization period. In general, we find this program is ideal for real estate investors without great tax return income, whether its property specific or globally specific, commercial property owners and investors, borrowers who need a cash out using its high LTV guidelines and unrestricted cash out rules with almost no questions as to use and finally, the self-employed borrower that typically write-off a lot of deductions.

No Tax Returns – No W-2’s – No Seasoning of Funds – 30 Year Fully Amortized – No Balloon – Easy Qualify.

This can be very useful for the business owner or professional real estate investor, as currently Banks are very tight with lending on income and investment property. They not only calculate a property’s Debt Service Coverage Ratio but the owner’s or buyer’s personal Debt To Income Ratio as well.  Needless to say there are many who can’t quite qualify for a bank loan with the new regulations and need to refinance or purchase a commercial real estate property.  This type of commercial stated financing easily gives you the opportunity to take advantage of a currently fast paced commercial real estate market and rising property values. Typical completed transactions take 2 to 5 weeks from application.

SFR, Condo 2 -4 family (Investment, Non Owner Occupied) 

Loan Amounts: $100,000 – $2,000,000

LTV: up to 70% for

              1st. Time Buyer, Time Investor, Free & Clear
Reduce maximum LTV by 5%
Investor 1 unit
Loan amounts up to $750,000 max LTV 70% (No DCR required)
Borrower must be an investor and own a minimum of 2 properties, including their primary.

Min FICO: 650

Multi-Family, Mixed Use, Office, Retail, Warehouse, Auto, Self Storage, Commercial Condo

Loan Amounts: $150,000 to $5,000,000

Loan Purpose: Purchase, Refinance or Cash–Out Refinance

Rates: Highly competitive

Loan Terms: 30 year loan or 30-year amortization

Fixed Period: 3 & 5 Year Options

Loan to Value: Up to 75% for Multi-Family, Mix-Use | Up to 70% All other types

1st. Time Buyer, Time Investor, Free & Clear, reduce maximum LTV by 5%

Eligible Property Types: Multi-Family, Mixed Use, Office, Retail, Warehouse, Auto, Self Storage

Territory: Available in most major markets.

Prepayment: 5% for each year loan is fixed. – Example: 3yr fixed = 5%, 5%, 5%

Arm Index: WSJ Prime

Arms Caps: 2% Initial, 1% Periodic, 2% Annual, 6% Life above initial rate

Arm Margin: 4%

Credit: Minimum Credit Score 650

Fees: NO upfront fees to review loans

 

Third party fees are due upon the execution of the Letter of Interest, an expense deposit required for appraisal, environmental, legal, etc.

Application fees are determined at time of Letter of Interest of issuance