Stated Income Mortgage Loans in New York State NY 800-247-8212
No Tax Return Required – The perfect loan for the self employed business owner or investor if you write off all of your income and can’t provide three years tax returns that show enough profit to your local bank. Call us today!
- No income verification
- Qualification is fast
- Simple and easy to qualify for
- Cash Out – OK
Our Commercial Stated Loans are for non-rural areas such as large cities like New York City, Buffalo and Rochester all the way to smaller population centers as Albany, New Rochelle, Syracuse and Yonkers to Saratoga Springs or nearby towns. We provide financing for a business owner user or for an investment commercial property as well as non-owner occupied 1-4 residential rental units. The minimum loan amount is $150,000 but we can go up to a maximum of $10,000,000 per loan.
This is a 30 year fully amortized, no balloon payment, no doc to lite doc loan and is based upon your real estate’s equity and a mid credit score of at least 650*.
*If your scores are no lower than 600 we may still be able to give you the financing you need.
Stated Income Highlights:
- Loan Amounts: $150,000 to $10,000,000
- Maximum Loan To Value: 75%
- Minimum Interest Rate: 6.74%
- Term: 30 years fully amortized, fixed for 3 and then adjustable year 4 though 30
How To Get Started Today:
- Loan Application (1003 standard loan application – call us and we’ll email one to you)
- 3 Credit Bureau Report with FICO Scores (pull your own 3 credit report with scores from Equifax.com)
Not you usual bank loan scrutiny or holding you hostage to a bankruptcy or foreclosure from years ago. We are the alternative financing, cheaper, longer term and better than hard money.
Types of Properties:
- Mixed Use
- Single Family 1-4 Rentals
- Shopping Centers
- Strip Malls
- Light Industrial
- Storage Centers
- Banquet hall (send interior photos)
- Bed and Breakfast (send interior photos)
- Daycare (send interior photos)
- and more….
If you require a short term Bridge Loan in New York of 1 to 2 years instead, for any reason, contact us and ask about our Bridge Loan Programs. Sometimes you may only need a short term loan to reach your goals prior to refinancing into the conventional Bank or SBA loan that you desire.
Contact us today. We can provide you with a Conditional Loan Approval within hours of providing us with a loan application and credit report. Closing takes a matter of a few short weeks.
(Sorry no construction or rehab funds available on this program.)