BOSTON, Aug. 8, 2006 (PRIMEZONE) -- World Capital Bancorp today announced that their stated income commercial mortgage programs have made an impact in the lives of small balance commercial property owners.
Through this Stated Income Commercial Mortgage Program, borrowers who wish to acquire or refinance commercial property can do so without having to present tax returns to the lender. Borrowers can simply state their personal income on the application without having to verify what they make via tax returns.
This is a loan for property owners who are unable or unwilling to provide tax returns on themselves. The program has lenient guidelines and a streamlined process that allows for an expedited closing.
This program allows borrowers to potentially receive a loan up to $3,000,000 with limited documentation and the ability to close quickly. It is also available for borrowers with impaired credit or special purpose properties.
This program is also a benefit to real estate brokers who are unable to qualify either the property or the new buyer under conventional terms. It gives the broker more leverage on selling cash flow challenged properties and creates a greater pool of qualified buyers.
About World Capital Bancorp
World Capital Bancorp is one of the premier commercial lenders headquartered in Boston, Massachusetts. World Capital Bancorp was built on the strongest foundation possible: its customers. Today, its customers are more the focus of what they do than ever before. Asking and listening to their customers have taught them what a lender should be.
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