Home > upto $1 Million STATED INCOME LOANS
Upto $1 Million - Stated Income Financing
All Fundings structured on a case by case basis.
The perfect candidate for this commercial loan is one who needs financing for an income-producing or commercial property, but are unable to qualify for traditional bank financing because they're unable or unwilling to verify income or assets.
- Clients without sufficient credit history
- Business owners who want to take cash out of their property
- Entrepreneurs and self-employed people who want to purchase a site for their business
- Real estate investors who wish to put as little as 10% down
- (In some cases, BUILDINGSandLOANS.com allows CLTVs up to 90%)
What type of income verification do we require?
Unlike rigid requirements that verify the borrower's personal income, we can pre-approve our clients with a completed application that simply states the borrower's income and assets. The only income verification required is on the property being financed. We require rent rolls and leases on properties with more than four units certified by the borrower. Our easy Stated Income/Asset process allows your self-employed clients who cannot verify all of their income to qualify for financing through BUILDINGSandLOANS.com
Can we finance your environmentally sensitive property types such as auto repair shops and dry cleaners?
Yes, but the owner needs to complete an environmental questionnaire that must be submitted with the loan package. The information is reviewed by an insurance company in order to determine whether or not the property poses an environmental risk. The cost of the premium varies depending on the loan amount and property type. However, the cost is substantially less than that of a typical Phase I environmental report. By offering this environmental screening process, BUILDINGSandLOANS.com can finance riskier properties that many others will not.
"Borrower's profile?"
One common denominator among all our borrowers is that they have a large amount of real estate equity and an immediate need for short-term capital. They cannot or will not go through the strenuous and time-consuming underwriting process required by conventional lenders.
Under $1 Million -Stated income/Stated Assets
Discover How Fast, Easy And Flexible BUILDINGSandLOANS.com Can Be.
BUILDINGSandLOANS.com has a Stated Income/Asset Program. That means full document paperwork isn’t required – and you and your investors enjoy greater flexibility and faster turnaround times.
- No tax returns required
- No income verification
- Unrestricted cash-out
- Loan amounts under $1 million
- Secured on commercial properties like multifamily, mixed use, warehouse, office, retail, light industrial, automotive, special use and more
- Several affordable payment options
- Automatic payment options – no more writing checks
- Fixed or adjustable rates
- 15 to 30-year amortization
- Loans to corporations, partnerships, and trusts ok
We Can Provide Financing For A Wide Variety Of Properties.
Mixed Use – These properties integrate residential spaces with commercial uses, such as retail or office space. Often these properties have a ground floor retail store or office with apartment(s) above, all in the same building.
Multi-Family Housing – We fund residential structures that contain five or more dwelling units in the same building. These multi-story buildings generally offer individual apartments for rent with common area facilities, such as an entrance, lobby, elevator, stairs, hallway, walks or grounds.
Retail/Office Buildings – This category includes stand-alone buildings such as offices, supermarkets, convenience stores, drug stores, department stores, bakeries, and beauty shops – as well as strip centers, and neighborhood and community shopping centers.
Warehouses/Light Industrial Properties – Single and multi-tenant facilities that are used for warehousing, light manufacturing, distribution, research and development. Does not include buildings where heavy manufacturing or specialized industrial operations such as welding occur.
Automotive Services – Includes everything from auto repair facilities to retail auto shops and part supply stores.
Special Purpose/Unique Properties – InterBay Funding will consider all commercial and unique properties that fall within our program guidelines and loan amounts, including funeral homes, campgrounds, trailer and mobile home parks, gas stations and others.
Hotels/Motels – With our industry knowledge and expertise, we feel we understand the non-flagged world of hotels and motels better than most lenders. Our valuation assumptions are based on facts relative to the specific property.
Self-Storage Facilities – Now one of the most competitive building classes in the country, these facilities are designed primarily for storage. This category also includes cold storage, RV and boat storage facilities, and truck terminals (transit facilities).
Health Care – Included in this category are all Assisted Living or Nursing Home types of operations where a license is required to operate the business.
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