Financing Your Commercial Property Venture Today
Are you looking for a way to finance your commercial property? If you are, Pendleton Financing has the stated income commercial real estate loan that is right for you. We can help you finance your commercial project without piles of paperwork so you can get started sooner than you imagined.
Information About the Loan
It’s important to note that the terms of your loan can vary, so we recommend speaking with one of our team members so you understand all the details and benefits available to you. However, the general details of our loans are as follows:
- Fixed rates
- Terms up to 25 years
- LTV ranging from 65% to 75%
- Up to $500,000 in funding
- Closing in as little as two weeks
Important Aspects of the Loan
A stated income commercial real estate loan is different from a standard loan in a couple of ways. First, the value of the home is more important than a borrower’s credit history. This means the loan’s mortgage, taxes and insurance should be covered by the total value of the property.
Second, it is faster to approve because it requires much less paperwork. That being said, you do need to have a credit score of 600 at the very least and be able to provide employment documentation, such as a W-2 or other self-employment verification.
Uses of the Loan
This loan can be used on a variety of properties in several different ways. For starters, you can use this funding for warehouses, restaurants and housing among other real estate options. From there, the funding can be applied for renovations, buying property, refinancing and consolidating your debt. This makes it a flexible loan for those who have commercial property.
Contact Us for Your New Loan
Your commercial real estate project deserves funding that helps things along and we can make that happen. Get in touch with Pendleton Financing to find out more about our stated income commercial real estate loans and begin your application today.