Stated Income Commercial Real Estate
Discover How Easy It Is to Get a Stated Income Commercial Real Estate Loan
If you don’t have an exceptional credit score, you may find it more difficult to qualify for loans at most lending institutions. Fortunately, Diamond Capital Financing is not like most lending institutions. We stand up for startups that haven’t had the chance to develop a solid credit score. Our stated income commercial real estate program is an innovative solution for those who don’t have well-established credit.
Approval for our stated income commercial real estate program is not based on how much collateral you have or whether or not you have more than 10 years of credit history. Instead, your chance of approval is based on the property in question. Your approval outlook is great, as long as the property you’re buying is valued sufficiently high. To be more specific, the value of the property needs to be high enough to cover the loan’s taxes, insurance and mortgage. If it is, you can benefit from the following loan advantages.
- Up to 65% loan-to-value for self-storage, warehouse, auto service and office properties
- Up to 75% LTV for mixed-use or multifamily properties that have no fewer than five units
- Up to $500,000 in approvals
- 25-year terms
- Fixed rates
- Fully amortized loans
We welcome all property types to apply for our generous stated income commercial real estate loans. We do require self-employment documentation or a W-2 in order to qualify. We also require a minimum credit score of 600. With your approval money, you will have an increased ability to refinance, purchase the property you want, and/or consolidate your debt.
This program is one of our more popular loan options because the qualification criteria are so easy to meet. It’s a great solution for small businesses or established businesses that have fallen on hard times. If you’d like to apply, get in touch with us and we’ll provide you with an application as soon as possible.