An Alternative To Traditional Loans for Commercial Properties
At Razak Commercial Capital, we’re proud to offer businesses with an alternative to traditional loans when it comes to commercial property financing. We provide stated income commercial real estate loans as part of our services to help companies find loans that suit their purposes.
The Ways Your Business Can Use This Loan
Since our goal is to help businesses across many industries, we work to help companies secure this loan regardless of which industry your business is a part of. This includes properties for warehouses, restaurants and apartments and other real estate. The following are ways in which some business use this financing:
- Renovating real estate
- Consolidating existing debt
- Refinancing a property
- Buying a piece of property
The Two Unique Aspects of This Loan
A stated income commercial real estate loan differs from traditional loan in terms of paperwork and home value. Most loans require seemingly endless paperwork and documents from borrowers, but stated income loans do not. That being said, borrowers are still required to show documents that prove your income.
As for the value of the home, the requirements of being approved for this loan are mainly focused on the home’s value. That is because the insurance, mortgage and taxes of the loan need to be covered by the total worth of the property.
The General Loan Terms
Financing your real estate loan with Razak Commercial Capital means you can receive funding that offers competitive rates and exceptional terms. The loan agreements we offer typically include the following terms:
- Terms lasting 25 years maximum
- Fixed rates
- Up to $500,000 in financing
- LTV of 65% to 75%
Start the Loan Application Today
If you’re interested in a stated income commercial real estate loan from Razak Commercial Capital, contact us for a free consultation today. After our experts review your business needs, we can provide you with an application so you can get started right away.