Stated Income

Until just four years ago no one wrote stated-income commercial real estate loans. A stated-income loan is one where the lender does not ask for tax returns or even a Profit and Loss Statement on the borrower. Instead, the commercial real estate lender merely relies on the borrower's income declaration on his loan application.
Program Highlights:
  • No tax returns
  • No income verification
  • Unrestricted Cash-out (up to $1,000,000)
  • 15 or 30 year amortization
  • Loans to corporations, partnerships and trusts
  • Fixed or adjustable rates

Elite Commercial Lending provides stated income loan for different loan sizes like small (up to $3 million), medium (from $3 to $9 million) and large (more than $10 million). We offer Stated Income Commercial Loans on variety of property types including Multi-Family, Mixed Use, Retail, Unanchored shopping Malls, Office, Warehouse, Industrial, Automotive, Hotel/Motel, Assisted Living, Special Purpose Properties, Outdoor Entertainment Centers, Bars, Restaurants, Movie Theaters, Day Care and Trailer/Mobile Home Parks.

Typical reasons a borrower may find a stated income/stated assets program beneficial would be for one of the following reasons:

  • Difficulty or unwillingness to provide documentation
  • Need for quicker turnaround
  • Beneath the minimum loan amount
  • Need a significant cash out
  • Need subordinate debt
  • Have a balloon note due
  • Have an ineligible property type