Connecticut Commercial Mortgage Options for Stated Income Borrowers

At Northeast Financial we specialize in Stated Income Commercial Mortgages.  Our program is ideal for both self employed borrowers and experienced commercial real estate buyers.  We work with you every step of the way in order to get you the commercial mortgage that best fits your needs.


Here is an overview of the program:



Loan Amounts: $25,000 to $2,000,000


Property types: Multi-Family, Mixed-Use, Retail, Office, Auto Repair, Day Care, Funeral Homes, Beauty Shops, Motels/Hotels, Warehouse, Mobile Home Parks, Campgrounds, Churches, Self-Storage, Dry Cleaner (Drop off only), Recreational properties


Ineligible Properties: Raw land, Land requiring “ground up” construction (any loan requiring rehab work must equal 10% or less of the property value), or gas stations (although we will lend on auto repair/auto body shops)


LTV: Maximum LTV is 70-80% (depending on the scenario)


Credit Scores: 600 Minimum FICO Scores.


Closings: Three to four weeks (the timeline is based on how quickly we receive all the required information).


Rates: Fixed Rates ranging from 6.5% and up that are based over 25 years (because we are a stated income program – our rates are higher than a local bank but still relatively low). We also offer Adjustable Rate Mortgages and different year terms depending on the needs of the client.


Prepay: Declining 5%-4%-3%-2%-1% Prepay Penalty on our 25 year fixed loan. Depending on the scenario we have the ability to lessen/limit the prepayment time period. On our Adjustable Rate Mortgages we have different prepayment options.


States: We transact commercial mortgages in 42 states except for Alaska, Alabama, Hawaii, Michigan, Nevada, North Dakota, Vermont and West Virginia.


Call us today for a free consultation.



IMG_0088Michael Meyer
Senior Vice President of Northeast Financial
210 S. Main St Middletown, CT 06457

Company NMLS#117273


Residential Clients: Click Here For Application