A Rebounding Mortgage Market
According to NAR’s chief economist Lawrence Yun, the mortgage lending space contracted by around 90% in the downturn of 2008. The last couple of years have seen that turning around. Perhaps fueled by expectations of relaxed regulation, in anticipation of higher interest rates and economic growth 2017 kicked off with a sizable surge in commercial lending. Commercial mortgages grew 18.8%, and construction and land lending by 19.3%. Inman News simultaneously reported that existing home sales hit a new 10 year record in growth during January 2017. Volumes should accelerate even further should regulations be streamlined, more businesses continue expansion and as tens of millions of dollars of commercial loans mature over the months ahead.
Any changes in the residential market and a stripping of barriers to subprime type lending to home buyers and homeowners is unlikely to dull capital markets appetite for commercial mortgage lending. These conduits have now spent years and billions designing and formulating powerful channels to flow their money into commercial lending, which carries less risk and more efficiency for them.
Uses for Stated Income Loans
Stated income loans are now available for a variety of property types including:
- Apartment buildings
- Retail malls
- Office buildings
- Mixed use properties
Today’s line up of stated income loan options offer a variety of flexible features including; fixed and adjustable rates, high loan-to-values, competitive interest rates, and expanded credit approvals.
These loans can be used to acquire prime performing properties, as well as refinancing maturing loans, retrofitting and bringing underperforming properties to their full potential.
Discover what a stated income loan can do for you today…