Business Loan Mortgage Buying Strategy

A STRATEGY TO GIVE YOU A NO WORRY APPROACH TO YOUR MORTGAGE BUSINESS LOAN

The Strategy to getting the money you need is to compare at least four commercial lenders. Commercial Direct Loans can help you do this free of charge because Commercial Direct Loans already has the resources needed to get your business loan. Be sure to apply for your commercial real estate business loan early.


Get your paper work in order 2 years of tax returns bank statements if you own property all of the occupancy data.(This is general)
Know the value of your property DON’T ORDER AN APPRAISAL Study comparable property sales in your area.
Complete a detailed asset and liability statement (always good to know)

Most FNMA apartment mortgages are non-recourse (except standard carve outs) and properties are underwritten using its Delegated Underwriting Services (DUS) program to make sure that lending parameters are met.
Loan collateral may be traditional apartments, affordable housing, senior housing, student housing, and manufactured housing communities.

A Term Sheet is a expression of interest by a direct commercial lender in making a particular commercial loan, along with a good faith estimate of the eventual terms. The letter is not binding on the lender, but it usually represents very good news. You should never agree to pay for a commercial appraisal until the lender has issued a term sheet with acceptable terms.

If you own a company with a lot of cash flowing through your business account, you can use the promise of a deposit relationship to negotiate a better commercial loan.