Stated Income Apartment Loan

Stated Income Apartment Loan Nationwide

Stated Income Apartment Loan available with low rates and fees!

Stated Income Apartment Loan

Stated Income Apartment Loan

Finance One Stated Income loans now includes a Stated Income Apartment loan finance Plan offers aggressive multifamily funding for consumers needing a decreased record or stated revenue choice.

Stated Income Apartment loan fiance Plan doesn’t rely on individual or company monthly or yearly financials to qualify. The topic property should have a bare minimum DSCR of 1.25x. Lender Evaluation of rents are utilized to meet the subject property financial requirements. Lender needs a current monthly rent roll and current monthly financials (P&L and income & expense for subject at min).

Stated Income Apartment Loan Highlights

  • No individual or company returns are needed for a Stated Income Apartment loan.
  • PFS is needed for all borrowers.
  • As much as 75-80% LTV for A+ borrowers – Great asset condition needed for Stated Income Apartment loan.
  • No Stated Income Apartment loan lender origination, very low fees choice available.

Stated Income Apartment Loan Plan

A Stated Income Apartment Loan is offered at a minimum of $500,000. With regard to standard apartment mortgage loan higher than $500,000, and for consumers that may offer tax returns, Finance One suggests consumers submit an application via the prime Apartment Loan financing which Finance One can accommodate.

  • Stated Income Apartment Loan From $500,000 – No Max Loan Amount
  • 15, 20, 25, 30 Year Totally Amortized
  • As much as 10 Yr Fixed Rates
  • As much as 80% Loan to value for the Stated Income Apartment loan
  • Pre-Pay: Yield Maintenance or Step Down
  • Property Monthly Rent Roll Needed
  • Property Income and Expense Needed
  • Impounds: Property Tax and Property Insurance
  • Regular Principal and Interest Payment
  • No Individual Financial Statements Needed
  • No Company Financial Statements Needed
  • PFS for all borrowers Required
  • Stated Income Apartment loan Annual Reporting Required
  • 680 Minimum Credit Score
  • Second mortgages and other Sub Financing Prohibited behind a Stated Income Apartment loan
  • Month to Month Renters okay
  • Section 8 – Allowed on all Stated Income Apartment loan programs
  • Rate of interest Floor:  Original start rate
  • ARM Details:  6 Month LIBOR, CAPS:  1/5/6, 325 basis points
  • Prior management experience needed to qualify for a Stated Income Apartment loan
  • Seasoning for all refinances apply
  • Accessible on five plus multifamily properties as well as mixed-use properties having under 25% commercial use.

Description of Property Type

Five unit multifamily buildings or grater with common area amenities like entryways, reception, elevator, stairways, mechanical area, walkways, etc. All spaces should be leased and considered as a primary residence.

Mixed-use buildings should include a minimum of 1 commercial unit (retail store, workplace, and so on.) and a minimum of 1 non commercial unit. To be regarded as mixed-use multifamily, the main use should be non commercial resi. If the prevalent use is commercial, interest and loan term may adjust, showing non-residential status.

Program many not be available in all states (case by case). Programs and guidelines subject to change without notice.

Find program guidelines for your your city or state:

Affiliations: NAMB | NBA | NAMP | GM

For more Stated Income Apartment loan information please contact us.

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