Massachusetts Commercial Mortgage: Stated Income Loans

Northeast Financial is a Stated Income Commercial Mortgage Company that offers creative commercial financing solutions all throughout Massachusetts. We offer a common sense approach to underwriting and can usually close in as little as 3 weeks. Here is an overview of our 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, Self-Storage, Recreational properties, and Apartment Buildings


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 and 5% on our ARMS based over 30 years. Depending on the scenario we have the ability to lessen/limit the prepayment time period.


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