Stated Income Commercial Real Estate Loans
If you are looking for the best way to consolidate and move equity in your real estate portfolio, you need to know about stated income commercial real estate loans. These loans are designed to let you get a business loan based on your property’s earning potential, so they are rare among commercial financing options because they do not actually use the resale value of the property as basis for the loan. This gives you more flexibility when it comes to your use of the funds.
If you have ever wished you could take out a loan that just lets you use your equity as working capital elsewhere in your portfolio, you have wanted a cash-out refinance. Stated income commercial real estate loans were designed to make this process easy, but they are not only for cash-out refinancing. They can also be used for purchases and regular refinancing.
Our Stated Income Loan Program Parameters
- Credit score of 600 or higher
- Loan values up to $5 million
- Finance a purchase, refinance, or cash-out refinance
- Competitive interest rates
- Terms up to 25 years
- LTV up to 70 percent on 1-4 unit residential properties
- LTV up to 75 percent on 5+ unit residential properties
- LTV up to 60 percent on commercial properties
- Properties must not be owner-occupied
Build Your Holdings More Quickly & Upgrade as Needed
If you are looking for the best way to get the most out of your investment, you need to check out the options available through stated income loans. When you can choose any of your properties to fund your next move, you have the opportunity to make sure your highest-earning buildings take on the cost of funding new ventures, hedging your risks and allowing you to go further faster.
For more information, contact a Norris Commercial Capital associate today. They are ready to answer questions and help with applications.
Tennessee is the 16th biggest state in the U.S. and is home to some of great cities like Nashville and Memphis. Tennessee has received an influx of people relocating from California, Florida, and several northern states because of the low cost of living, and the booming auto and healthcare industries. Nashville is one of the fastest-growing areas in the U.S. due in part to these factors. As of 2012, Tennessee was only 1 of 8 states that could report an asset surplus. Many major corporations call Nashville, Knoxville, or Chattanooga home such as Regal Entertainment Group, Fedex, and Autozone. Tourism has also made it a top 10 destination. Norris Commercial Capital is happy to assist Nashville, Knoxville, Memphis, the rest of Tennessee, and the U.S. with our commercial finance products. Contact us today at 865-585-0304.