Find Income commercial loan stated Find Income commercial loan stated.
stated income commercial loans work a little differently than other types of loans there is no verification of borrower's income, there are still verifying the income of the property. This type of loan program is basically geared to helping property investors and the independent benefit of commercial loans, without having to go through all the hoops that traditional banking institutions and loan demand. These loans are based on a specific person or declared income, which allows the lender to accelerate the process and avoid the many obstacles and barriers faced by many borrowers.
Griffin programs are essential for a multitude of different types of commercial properties, including apartments, mixed use properties, light industry, hotels and motels, shopping centers, restaurants, convenience stores, warehouses, and much more. raw land is not allowed.
Borrowers can obtain a commercial loan for an amount between $ 250,000 - $ 2,000,000. A credit score of 650 or more staff is needed as well as security approved the commercial real estate.
Interest rates, loan to value, and amounts of loans are approved based on credit and property types and situations. The higher your credit score, the higher your rate - it's that simple. Griffin Capital provides loan to values up to 80% and do not usually charge points.
The process of income declared ready for small properties is simplified, and individuals usually receive an approval or denial within 72 hours of submission of applications. If approved, Griffin Capital will need to order an appraisal from a licensed company.
declared income commercial loans offer businessmen and women who are ineligible for traditional bank financing can buy commercial property or take cash from the commercial real estate.
Visit www.statedcommercialloans.com for more details.
Posted on February 26, 2010.
