Stated Income Apartment Loan
Crown Commercial Finance has the of the best Stated income loans products available in the commercial mortgage marketplace. With this program you don’t have to provide tax returns or bank statements.
It gets better if you have an apartment you’re looking to refinance. Not only does this lender pay for the appraisal, a savings in the area of $1,500 to $2,000, they also pay for the Escrow and Title fees (Refinance Only). The savings on these two fees alone, depending on your loan amount, can easily save you another $1,000 to $2,000 or more!
This is one of the easiest loans to obtain so contact Crown Commercial Finance now while this apartment loan product is being offered.
Interest rates fluctuate daily
Rates as of 6/1/2017
Adjustable Rate Loan: 3.66%
3 Year Fixed Program: 3.92%
5 Year Fixed Program: 4.18%
7 Year Fixed Program: 4.69%
10 Year Fixed Program from 4.87%
All have 30 year amortization.
Debt to Service Coverage Ratio only 1.15 based on 4.52% Qualifying Rate for the 3 & 5 year fixed rate loans. Qualifying Rate for the 7 and 10 year fixed are the actual rate.
Minimum middle FICO score of 680+.
California properties only.
ADJUSTMENTS TO THE RATES
Loans between $500K to $750K add 20 basis points (BPS) to the rate.
Loans between $750K and $1MM, add 10 BPS to the rate.
Loans under $500K and above $250K add 100 BPS to the rate.
Add 10 BPS for non-recourse
Max LTV 75%. Discounts on loans below 65% in Tier I areas.
Borrower liquidity to equal 6 months Principal and interest payments on all Real Estate.