RSA Funding is offering the option through its wholesale channel as an alternative for borrowers who have been turned down by banks.
"This program will provide a financing option for commercial real estate
owners and investors who may fall outside of bankable parameters because of credit or debt-to-income issues,” said Rob Shea, founder of RSA Funding.
According to the company, most commercial property types, including residential one- to four-family non-owner occupied properties, qualify for the offering. Depending on the property type, the loan-to-value ratio can be up to 80%, with $100,000 as the minimum loan amount. RSA Funding is offering the loan at rates beginning at 8%, with loans closed within two to three weeks.
"This is a competitively priced program and is ideal for self-employed borrowers and property investors who need flexible loan underwriting," Shea said.
RSA Funding specializes in placing commercial mortgage borrowers in loans through its wholesale lending channel. The company brokers various types of loans such as stated income, multi-family, SBA, bridge, and bankable loans, among others.
Commercial mortgage broker RSA Funding is now offering a stated-income commercial financing option among its lineup of loan products.