Introducing an innovative stated income solution for owner-occupied commercial mortgage transactions
Looking to sweeten your value proposition for non-bankable commercial mortgage clients? Add Silver Hill Funding, LLC’s new Stated Owner-Occupied Program to your product list and cement your status as a small-balance solution provider!
This new small-balance commercial mortgage program gives you the opportunity to close more owner-occupied deals. You’ll also be able to provide your clients with business-friendly options they can’t get from a bank or alternative lender.
Our team can’t wait to see how this innovative solution enhances your product offering and gives your clients new options that meet their needs. Here’s what you need to know before you take advantage of the Stated Owner-Occupied Program.
Small-business owners have a pressing need for stated income mortgage solutions
If you work with small-business owners regularly, you have no doubt seen many cases where the borrower was unable to satisfy traditional lenders’ documentation requirements. This often occurs because of the nature of the borrower’s business – self-employed professionals and entrepreneurs can have an especially difficult time documenting their income. All too often, these credit-worthy borrowers are unable to get the funding they need from banks and other types of traditional lenders.
Our program offers a combination of flexibility and competitive pricing that banks can’t match
Your clients may be familiar with stated income alternatives, but they likely associate any such program with unfavorable terms and high interest rates. Our stated income program gives business owners the opportunity to secure a fully-amortizing, long-term loan at a competitive interest rate.
Hard money solutions are certainly useful in certain circumstances, but they shouldn’t be the only option for non-bankable borrowers. With this program you can provide a more attractive alternative to those who fall somewhere between banks and hard money lenders on the commercial mortgage spectrum.
Here’s how it works
The Stated Owner-Occupied Program utilizes a proprietary algorithm that enables Silver Hill to pull data from various sources, meaning borrowers can get approved without having to provide business financial statements or personal/business tax returns. In fact, the only documents needed at the beginning of a transaction are a loan application and credit report.
You can learn more about the program details below:
Loan Size: $250K - $2 Million
Property Types: Mixed-Use, Office, Retail, Warehouse, Light Industrial, Self-Storage, Automotive, Daycare Centers
- Owner-occupied only
- LTVs up to 75%
- Minimum FICO score of 700
- Business must be in existence for 5 years
- Rates of 6-9%
- Brokers protected
- Par Lender, YSP is available
Want to discuss an owner-occupied deal? Contact your regional manager today.
Take advantage of the Stated Owner-Occupied Program and close more of the owner-occupied deals in your area. If you have a deal in mind right now, feel free to reach out to one of Silver Hill’s regional managers to discuss the particulars. You can also quickly price the scenario yourself by using our free mortgage payment calculator.