Explain Commercial Stated Income Loans

Commercial stated income loans are the best alternative in the industry to traditional commercial loans. These loans are ideal for borrowers who want to refinance or buy a commercial property.

The commercial stated income loan would look more at the real estate property as compared to the credit history of the borrower. The income value of the property should be equivalent to the mortgage, insurance, and taxes, to get the commercial stated income loan approved. One of the biggest advantages of the commercial stated income loans, as opposed to traditional loans, is the quick process because the documentation process is simpler.

Following are the properties that can be financed with the commercial stated income loans:

• Retail real estate

• Restaurants

• Office real estate

• Warehouses

• Apartment building

Commercial Stated Loans: Uses

• Debt consolidation: Pay the hefty taxes, credit card debt, and any other expense, with the help of the commercial stated loan

• Property purchase: Say goodbye to paying massive rent for a building that you can easily own. With stated loans, find the perfect property purchase options.

• Property improvement: Expanding and improving your property becomes easier with this loan option.

• Work capital: Whether you need money for covering massive bills, or just need some cash flow. Commercial stated loans do offer work capital.

• Refinancing: Get the best refinancing options with commercial stated loans.

Commercial stated income loans are the best options for people looking for quick finance options. All you have to worry about is the mortgage and the worth of it, once that has been established it becomes easier to get the loan. Minimum documentation and a quicker process are the most sorts after perks of commercial stated loans.