There are many reasons why an investor may want to use stated income commercial mortgage loans.
One reason would be to refinance out of a hard money or bridge loan. We at RSA Funding are seeing many more requests for
stated income commercial mortgage loans in the last few months. Our customers have been purchasing property with a fix and flip or rehab loan.
This type of financing generally has a one year term. If they want to rent the property after the rehab work is completed they will need to refinance
to another loan. Stated income commercial mortgage loans are a good option for them. These loans have a longer term than a bridge loan. The terms are
generally three to seven years. The rates for these stated income loans are more attractive than bridge or hard money loans as well. Loan to values can be up to
80% depending on credit, property type, and type of transaction. Because there are no tax returns required, closings can take place as quickly as two to three weeks.
For more information on how stated income commercial mortgage loans can help you: Contact RSA Funding at 855-475-FUND (3863)
34-3 Shunpike Dr. #223