Offering a Better Real Estate Financing Alternative
Are you ready to take that next major step in the lifecycle of your business and purchase your first commercial property? You may quickly find out that finding the ideal location isn’t all that difficult; securing financing, on the other hand, just may be. That’s because traditional lenders are often so beholden to their standard processes that they literally force you to jump through hoops to accommodate them (that’s even if they’ll approve you for a loan at all). We here at Greenwood Capital Advisors can offer you a better solution.
Stated Income Loan Program Details
We offer a Stated Income Commercial Real Estate Loan Program on top our other real estate financing options. This program, however, is unique in the manner in which your loan worthiness is determined. We understand that oftentimes, small startups like yours have not yet had the time to establish a strong credit profile. Therefore, when considering your stated income loan application, your credit is not a primary determining factor. Rather, if the property has the potential to generate enough income to cover all of the costs of the mortgage, then your likelihood of qualifying is high.
We’ve even seen companies qualify for stated income loans with credit scores as low as 600. Yet relaxed credit restrictions are not the only benefit our loan program offers. Others include:
- Loan amounts up to $500,000
- Financing available for all types of commercial properties
- Market-competitive rates on loan terms of up to 25 years
- Loan-to-value ratios between 65-75 percent depending upon property type
Our stated income loans can also be used for other purposes outside of real estate purchases. They may be better alternatives when it comes to refinancing or cashing out your equity in a current commercial mortgage.
When you’re ready to jump into the commercial real estate market, let us at Greenwood Capital Advisors help you along the way. Through our Stated Income Commercial Real Estate Loan program, you’ll obtain the financing you need to secure that dream location in no time at all. Give us a call today if you’re ready to get your application started.