Stated Income Commercial Loans

Stated Income Commercial Loans: Company No Longer Punishing People For Having Good Credit When was the last time you went to the bank for a commercial or investment property loan? Did you think you were hearing The )mperial March ȋDarth Vader’s ThemeȌ asYouyou walked in the doors? might as well have been. This might have been the response you received at the bank. Ever since the U.S. economy almost totally collapsed some years back, more laws have been passed to minimize the risk of banks and lenders making bad loans. Between Dodd-Frank, Sarbanes-Oxley and a host of other new laws,it’s no wonder it’s stricterand it takes longer than it ever did to get a commercial or investment property loan. Banks also distinguish between Dzperformingdz loans and Dzprofitabledz loans. Did you know you could take out a loan and never be ONE SECOND LATE on making a payment and your loan could be reclassified as a non-profitable loan? Yep. Each year you’ll have to provide documentation ȋfinancials, insurance etc.) tDid you know if you’re late providing to be in compliance with the bank. hat documentation, your loan could be reclassified as non-profitable. NICE. Don’t get me wrong. The A+ borrowers will still get financing on the A+ deals, although it takes even them a little longer to get it done than before. So what happens if it’s NOT an A+ deal? What if you’re looking to buy a site that’s foreclosed, REO (Real Estate Owned) or just has poor or nofinancials?