Financing an income-producing property with more than five units will require a commercial mortgage loan. Although, getting a funding approval for a self-employed investor without proof of income is not easily accomplished with a local bank. Direct Apartment Lenders offers stated income multifamily loans for under one-million dollars.

Buying a Multifamily Apartment With No Income Verification

Commercial apartment lenders normally want to see that a borrower has enough income to cover the mortgage note for the subject property. 

It might seem unrealistic to approve a commercial loan request for an applicant who cannot supply proof of income. 

However, no personal income verification is required for our multifamily loan program. 

Therefore, an investor will not need to furnish pay stubs, personal tax returns or business tax returns.

We base our apartment lending decisions on the strength of the commercial asset.

It should be refreshing for investors to know that it is possible to get a multifamily apartment loan with no income requirements.

Stated Income Loan Limits for Multifamily Apartments 

Real estate investors can obtain stated income multifamily loans under one-million dollars. As a niche-based apartment lender, we excel at providing small balance commercial mortgage loans for qualified borrowers. 

Using a common sense approach to underwriting properties with 5 to 100 units, we offer loan sizes that exceed $1,000,000. 

In fact, our loan limits for multifamily apartment loans are between $100,000 and $2,500,000.

Fast Funding for Multifamily Apartments

For certain loan requests, an investor might need to locate fast funding solutions. 

Many multifamily apartment building lenders can take more than 60 to 90 days to close a commercial mortgage loan. Slow underwriting time frames could cause an investor to miss out on a variety of opportunities.

Knowing that Direct Apartment Lenders can fund multifamily property loans in less than five weeks is extremely valuable for an investor who needs fast funding. 

When extremely time-sensitive underwriting decisions are needed, we may be able to close a commercial mortgage loan in four weeks or less.

Mortgage Rates for Stated Income Multifamily Apartments

Securing a great mortgage interest rate on a multifamily apartment is ideal for loan sizes under $1,000,000.

A variety of factors are used to determine the interest rate for commercial apartment buildings, such as the loan amount, loan-to-value, debt-service coverage ratio, number of units, borrower’s credit score and the borrower’s mortgage payment history.

We offer competitive mortgage rates on stated income multifamily apartment loans throughout the United States.

Some banks and apartment lenders only operate in a few states or within a local region.

As a nationwide apartment lender, we offer attractive mortgage rates for investors who might need to finance commercial properties in a variety of states.

Beyond the interest rate, many apartment lenders do not provide commercial loans for investors with stated income.

Therefore, investors should remember Direct Apartment Lenders when great rates are needed for multifamily apartment loans without pay stubs, W-2’s or tax returns.

Investors can select a variety of loan terms that are available for short-term or extended durations.

Loan terms are offered for 5/1, 7/1, 10/1 and 30-year fixed rate mortgages.

Qualified borrowers can receive a rate and return refinance or a cash-out refinance loan up to 75 percent loan-to-value.

Purchase money mortgage loans are issued up to 80 percent loan-to-value. 

Our rates are extremely attractive for multifamily properties with 5 to 100 units or more.  

Speaking with one of our commercial mortgage professionals is the best way to obtain more details about our financing programs.  

Items Needed for a Stated Income Apartment Loan

Less documentation is the beauty of stated income apartment loans. With fewer documents to gather, submit and await an underwriter’s review, an investor can enjoy the speed of an expedited loan process.

Generally, a borrower will need to submit a commercial mortgage loan application, rent rolls, apartment leases and a purchase agreement to find out whether a loan approval will be issued.

One of our experienced loan officers will carefully review a new loan submission and typically provide a response within 48 hours or within two business days.

Apply Online for a Stated Income Multifamily Apartment Loan

Obtaining money for a commercial property does not require a visit to our office or to contact us during business hours.

Investors are invited to apply online today for a stated income apartment loan.

Instead of getting the run around by mortgage brokers and local bankers who are not able to issue stated income apartment loans, an investor can complete our “Contact” form, here on our website to get more information or to begin the application process. 

When banks are reluctant to issue funding for a small business owner who cannot provide a documented earnings history, a stated income apartment loan might be a great alternative.

Direct Apartment Lenders employs courteous loan officers who can assist investors with any commercial mortgage concerns.

Contact us today for more information or to apply for an apartment loan.