Get the Facts about Stated Income Commercial Loans. Stated income commercial loans work a little bit differently than other types of loans in that there is no income verification for the borrower, there is still income verification for the property. This type of loan program is basically geared to help real estate investors, as well as self-employed people benefit from commercial loans without having to jump through all the hoops that traditional lending and banking institutions require. These loans are based on an individual's stated or claimed income, which enables the lender to speed up the process and avoid many of the hurdles and obstacles that face many borrowers.Griffin Capital can often provide pre-approvals within 24 to 48 hours, as well as no application fees. Available in all 50 states, consumers are able to borrow in the name of a corporation, limited liability company, trust, or their name personally and enjoy a fixed rate.Visit www.statedcommercialloans.com for more details. Griffin Capitals programs are for a multitude of different commercial property types including apartments, mixed-use properties, light industrial, hotels and motels, retail centers, restaurants, convenience stores, warehouses, and many more. Raw land is not permitted. Borrowers can obtain a commercial loan for amounts between $250,000-$2,000,000. A personal credit score of 650 or higher is needed as well as collateral in approved commercial real estate. Interest rates, loan to value, and loan amounts are approved based on credit, as well as property types and situations. The higher your credit score, the lower your rate - it's that simple. Griffin Capital offers loan to values up to 80% and does not generally charge any points. The stated income loan process for small properties is streamlined, and individuals normally receive an approval or denial within 72 hours of application submission. If approved, Griffin Capital will need to order an appraisal from an approved company. Stated income commercial loans offer businessmen and women that do not qualify for traditional bank financing the ability to purchase commercial real estate or pull cash out of commercial real estate. Visit www.statedcommercialloans.com for more details.Useful Links: Stated Income Loan, Stated Commercial Income Loan, Stated Income Loans.
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