Finding commercial real estate financing without tax returns, bank statements, or full financials is possible through South End Capital’s real-estate program, which focuses underwriting on credit and collateral. Below is an updated, concise guide to eligibility, requirements, and how to apply.
What “no income documentation” means
South End Capital offers application-only purchase, refinance, and unrestricted cash-out refinance loans (no tax returns, bank statements, or P&Ls) for commercial real estate transactions up to $500,000. For loans from $500,000 to $1,000,000, a personal financial statement (PFS), recent bank statements, and select additional documentation are required. Underwriting emphasizes credit score, property value, and collateral quality rather than income documentation.
Key program features
- Loan size: $50,000–$1,000,000 (application-only up to $500K; $500K–$1M requires PFS and bank statements).
- Credit score: Typically 690 minimum.
- LTV: Up to 50% loan-to-value.
- Rates & terms: Interest rates priced from Prime + 2%; common structures include a 5-year term with 25-year amortization.
- Property types: Broad acceptance—raw land, investor residential, small commercial—no occupancy requirement in many cases.
- Property condition: Strong collateral condition is required; no renovation, rehab, or construction financing allowed.
- Photos & appraisal: Color photos are required for all loan sizes. An expedited real estate valuation is performed in most cases for loans up to $500K; full third-party appraisals or additional due diligence may apply for larger loans.
- Speed: Qualifying deals can close quickly; South End Capital advertises closings as fast as two weeks for eligible transactions.
Who this program is best for
- Investors or owners with good credit and substantial equity but without tax returns or bank statements (for loans ≤ $500K).
- Borrowers often overlooked by other lenders such as self-employed individuals, non-profits, permanent resident aliens, and foreign nationals (ITIN holders).
- Buyers or owners of raw land, rural properties, single-family investor homes, or small commercial assets that are in good condition and need no rehab or construction.
- Borrowers willing to accept lower LTV and risk-based pricing for faster, simpler approval.
- Mortgage brokers and loan professionals interested in earning up to a 3% fee accessing streamlined real estate financing for their borrowers.
How to improve approval odds
- Prequalify with South End Capital to confirm eligibility and receive preliminary terms.
- Prepare property materials: purchase contract (if applicable), property address, color photos (required), property info (square footage, acres, taxes, etc.).
- Verify credit: aim for a 690+ score and be ready to explain any recent derogatory items.
- Anticipate due diligence: expect a property valuation for most ≤ $500K loans and additional appraisals/fees for larger loans after accepting terms.
- For $500K–$1M loans, assemble a current PFS and recent bank statements up front.
Pros and trade-offs
Pros:
- Access when conventional lenders require full financial due diligence.
- Faster, streamlined closings for competitive deals.
- Broad property eligibility (if in good condition).
Trade-offs:
- Higher pricing and shorter terms compared with full-doc bank loans.
- 50% LTV cap requires more equity or cash.
- No rehab or construction financing; property must be in turnkey condition.
FAQs
Q: Can I apply with no tax returns or bank statements?
A: Yes for loans up to $500K (application-only). Loans $500K–$1M require a PFS and recent bank statements.
Q: Are photos required?
A: Yes — color photos are required for all loan sizes.
Q: Will you appraise the property?
A: An expedited property valuation is performed in most cases for loans up to $500K; larger loans may require a third-party appraisal.
Q: Can I finance a property that needs renovation or construction?
A: No — the program requires strong collateral condition and does not fund renovation, rehab, or construction.
Q: How fast can I close?
A: Many qualifying loans can close in as little as two weeks; actual timing depends on loan size, property type, and due diligence.
Q: What credit score is needed?
A: The program typically requires a minimum credit score near 690.
Next steps
Prequalify through South End Capital’s Real Estate program by clicking here and request a written term sheet and fee estimate to compare costs and timelines.
Disclaimer: This summarizes South End Capital’s advertised program and is not financial advice. Terms, availability, and documentation requirements vary—obtain written terms and consult a qualified advisor before proceeding.