If you are preparing to buy or refinance commercial property, stated income commercial real estate loans from Perfect Alliance Capital provide a readily accessible alternative to traditional loans. We issue this financing based primarily on the value of the property, rather than your own financial standing. This allows us to make this funding available much more quickly than a conventional loan.
Qualifying for Financing
You may be eligible for a stated income loan if you have a credit score of at least 600. You also will need to provide a W-2 or proof of self-employment. We determine the loan-to-value ratio that you qualify for based on the property type, with the following amounts of coverage available:
- Up to 65 percent LTV for offices, stores, warehouses, self-storage and car service shops
- As much as 70 percent LTV for investment properties that are four units or less and occupied by non-owners
- Up to 75 percent LTV for multifamily and mixed use properties with at least five units
Within these constraints, we offer stated income loans that range from $100,000 to $5 million.
Flexible Loan Options
We also provide soft money loans that feature fixed rates, terms up to 25 years and full amortization. You may receive up to $500,000, which you can apply to any type of commercial property. We expedite the closing process for these loans so that closing can be completed in as little as two weeks.
Extensive Loan Uses
You can use our stated income loans to reduce your overall costs by consolidating your debt or refinancing. Depending on your liabilities, debt consolidation may help you reduce monthly expenses by thousands of dollars. If you are struggling to keep up with high or variable interest rates, we offer refinancing with reasonable fixed rates for up to 25 years.
You can also use our funding to complete purchases or property renovations. If you need funding for other purposes, stated income commercial real estate loans can provide general working capital, which can be used as you see fit.