No Doc Stated Income Mortgages Loans

No Doc Stated Income Mortgages loans

  • Loan amounts $50K to $15 million
  • Terms from 5/7/10/15 or 30 years
  • Amortizations up to 30 years
  • Up to 80% LTV on all properties and this includes cash-out transactions. Mid Covid-19 Max LTV: 60-65%
  • Unrestricted cash outs
  • Express Capital Financing does not underwrite or require tax returns, W-2 or income verification for investors and owner occupied properties
  • Recently stabilized – we only need 75% economic occupancy for the preceding 90 days at a 1.15 DSCR
  • No seasoning on title and the ability to use appraised value vs cost basis
  • Out of state investors
  • Low liquidity – Ecf only needs 3-6 months of P&I in reserves
  • Rates as low as 5.75%
  • Credit scores as low as 600, below 600 is case by case

Using No Doc/Stated Income Loans For Commercial Real Estate

Like residential loans, conventional loans are amortized so borrowers have manageable monthly payments on the balance. Our No Doc/Stated Income loans offer more robust amounts and terms, with a higher LTV than traditional channels, giving commercial real estate investors the flexibility they need to acquire properties. Additionally, lower LTVs typically qualify for higher financing with conventional loans, because the higher equity stake means there is less of a risk involved. No Doc/Stated Income loans can be arranged quickly with fast closings, so commercial real estate investors can acquire properties and start generating revenue as quickly as possible.

Property Types

Our conventional loans can be used in transactions for a multitude of property types, such as:

Apartment (5-20 Units)
Apartment (21+ Units)
Auto Services
Bed & Breakfast
Condo Conversion
Convenience Store with Gas
Day Care Center
Development (Residential)
Development (Commercial)
Franchises

Funeral Home
Health Care / Assisted Living
Hotel Condo
Hotel / Motel
Investment Condo
Light Industrial
Mixed Use
Mobile Home Park
Multi Family (5+ Units)

Multi Family (2-4 Units)

Office
Office Condo
Parking Garage
Restaurant
Retail
Self Storage
Single Family Residence
Townhome / Residential Condo
Warehouse
Warehouse Condo

How It Works?

When we receive the letter of intent and prior-to-processing (PTP) conditions, we order 3rd party reports:
  • Title
  • Appraisal
  • Background Check
  • Environmental Screen
  • Credit Report

Note: Your borrower will submit payment through our online payment portal.

While we order the 3rd party reports, our Transaction Manager reviews the required conditions for the loan and sends you an updated conditions list if any changes have occurred.

After receiving the completed appraisal, our underwriters perform a full review of your client’s file. Then we issue a pre-approval letter.

Once we receive all conditions and the following reports, our team makes the final approval decision.
  • Appraisal
  • Insurance
  • Title
  • Entity documentation
  • Certificate of occupancy (if applicable)
  • Payoffs (if applicable)

Congratulations, your client’s loan request is approved! Express Capital funds the loan after the borrower signs the loan documents and the closing agent reviews all documentation. Funds are typically disbursed within 24 hours of closing.

Get Started Today

Express Capital Financing provides a wide range of solutions for commercial real estate transactions. If you need fast, efficient, and affordable financing for your next property transaction, contact our offices. Learn more about our no doc/stated income loans for commercial real estate today.

Pre-Qualify Today

READY TO GET STARTED?

Get preliminary approval within 24 hours. 

Simply complete the form using the link below, or call us at 718-285-0806:

MORTGAGE LOAN - ONLINE APPLICATION

TAKE THE NEXT STEP

OR fill out and return the following paper application:

MORTGAGE LOAN - PAPER APPLICATION
  • No tax returns required
  • Can’t prove your income
  • 25 to 30% down will get you the financing you need
  • 30 year fully amortized loan (fixed for 3 or 8 years)
  • Need 650 min. credit score
  • Have the property in your hands in 30 days
  • We are a nationwide lender
  • Since we are a direct lender, we are able to get you a letter of intent (LOI) within 48 hours and close within 30 days
  • Express Capital’s back office helps you the client with all your real estate needs. We handle your Title, insurance, Council. Whether it’s your sources or our sources.
  • Good for partnership buyouts, debt consolidation, working capital for your business, owner occupied users are acceptable.