Stated Income Commercial Real Estate Mortgage

Q: How does stated income commercial loans differ from conventional financing?

A: While the income from the property is verified, there is no requirement to verify the property owner's complete income and net worth. This is very attractive to commercial real estate property owners who cannot or do not wish to jump through all the hoops required with conventional financing.

Interest rates, loan to value, loan amounts and maximum cash take-out are approved based on credit, as well as property types and situations. Simply put, the higher your credit score, the lower your rate. The higher your credit score, the higher your loan to value. (About Your Credit Score click here)

Q: What property types are eligible for the stated income mortgage loan?

A: This program is suited for almost any type of income producing commercial property. Here are some common examples:

Apartment Buildings	With 5 or more apartment units
Mixed Use	With commercial and 1 or more apartment tenant(s)
Retail / Office	Owner occupied or Investment property
Restaurant / Bar	Owner occupied or Investment property
Warehouse	Owner occupied or Investment property
Auto Repair / Auto Body	Owner occupied or Investment property
Day Care / Hair Salons	Owner occupied or Investment property
Hotel / Motel	Owner occupied or Investment property

Q: What are the eligibility parameters for a stated income commercial mortgage?

A: There are a number of stated income programs available through CFN.

The program you qualify for is based on the following:

Loan Amount	$75,000 minimum to $2,500,000 maximum
Loan to Value	Up to 60% for troubled credit; 80% for good credit
Min Value	Property must be appraised at $75,000 minimum, or $12,000 per unit
Appraisal Approach	<$100k sales approach; >$100k sales and income approaches
Min FICO score	600+ (About Your Credit Score click here)
DSCR	Verified property income less expenses to meet 1.25 DSCR
Refi seasoning	Investor must own property for minimum 2 years before refinance
Refi cash-out	Maximum $150,000 cash out - to be used for business purposes
Term	15 to 25 years with NO BALLOON

Let's get started. To pre qualify your request, we will need the following items:

Pre Application Form download
Credit Authorization download
Digital photos of the property

Questions? Please call us at 800-503-1972 or inquire via our online pre-application; a CFN consultant will be happy to assist you.

Stated Income Commercial Real Estate Mortgage

Copyright © 2011 Commercial Funding Network, Inc.

P.O. Box 9584, Niskayuna, New York 12309-0584

Telephone: 518-346-2115 Fax: 212-658-9003

Revised: April 11, 2011