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Apartment Loan
Quick Links |
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Stated
Income Apartment Loans |
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Stated income apartment building loans
made quick and easy!
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No lender points
No commitment fees
No outside legal fees
No application fees
No loan committees
No monthly/annual
reporting
30-45 day closings
Unlimited cash out refinances
Up to
30-year
fixed rates
and terms
No personal or business
tax returns
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CommercialBanc
Stated Income
Apartment Loans
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CommercialBanc's
Stated Income Apartment Loan
Program provides competitive
apartment financing for borrowers
requiring a reduced document or
stated income option. |
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The
Stated Income Apartment Loan
Program does not require personal or
business tax returns, personal
financial statements, and has no
monthly or annual reporting
requirements. Please Note:
The subject property must cash flow
at a minimum DSCR of 1.20x.
Appraisal rents are used to qualify
income. Subject property rent roll
and income and expense statements
are required. |
● No personal or
business income tax returns required
● No personal financial
statements required - No
monthly/annual reporting req.
● No balloon or call provisions - Up to five
year fixed rates
● Up to 85% financing for good credit
borrowers - Good property condition required
● Minimal fee structure with no lender point
options |
Stated Income Apartment
Loan Program
Overview
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Stated Income
Apartment
Loans are
available for loan
sizes up to
$1,000,000. For
conventional
apartment loan sizes
above $500,000,
or for borrowers
that can provide tax
returns, CommercialBanc
recommends borrowers
first apply through
the
Banc-Series Small
Balance Apartment
Loan Program. |
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Stated Income Apartment
Loans Form
$100,000 - $1,000,000 |
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15, 20,
25, 30 Year Amortizations |
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6 Month, 1, 2, 5,
Year Fixed Rates |
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Up to 85%
LTV* |
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Purchase or
Acquisition |
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5%
Prepayment Penalty to 5 Years
20% Annual Principal Reduction With No Prepayment
Penalty |
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Appraisal Rents Qualify Income
Subject Property Rent Roll Required
Subject Property I/E Required |
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Impounds: Tax and Insurance |
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Standard PI Payment |
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No
Personal Tax Returns |
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No Business Tax
Returns |
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No Personal Financial Statements |
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No Monthly/Annual Reporting |
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Streamline Loan Process |
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Extremely Fast
Closings |
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575 Minimum Credit Score |
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Subordinate Financing
to 90% |
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Weekly,
Monthly, Annual Leases OK |
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Section 8 -
Subsidized Rents OK - |
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Interest
Rate Floor: Initial Start Rate
Margin: 325 BPS
6 Month LIBOR
CAPS: 1/5/6 |
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Property
management experience not required |
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Minimum
seasoning requirements on refinances |
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Available on 5 +
unit multifamily properties
and mixed-use properties
with less than 25% of
commercial usage |
Eligible
Property Types and Description
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Multifamily:
Structures containing five or more dwelling
units with common area facilities such as
entrances, lobby, elevator, stairs, mechanical
space, walks or grounds. Units must be rented on
a non-transient basis such that tenants consider
their unit their permanent residence.
Mixed-Use:
Mixed-use properties must contain at least one
commercial unit (retail, office, etc.) and at
least one residential unit. To be considered
mixed-use multifamily, the primary use must be
residential. If the predominant use is
non-residential, rate and term will change,
reflecting a commercial designation. |
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