What’s the most efficient way to secure a US Commercial Mortgage? Work with a mortgage broker who specializes in this area. If you’ve ever applied for a loan, you’re familiar with the mountain of paperwork you are required to complete during the process. The lender takes the applicant’s information, runs it thought their guidelines and formulas and after waiting many weeks, a decision is made to either approve or deny the loan. If approved, the transaction can proceed. If denied, the applicant has to begin the process all over again.
US commercial mortgage lenders use guidelines similar to those used when applying for a residential loan. The applicant must provide a good reason for needing the loan. The property must have an acceptable appraised value. The location of the property is also considered. The credit history of the applicant, including the financial condition of the business is thoroughly investigated. In addition, commercial mortgages require significant collateral to secure the loan. This can be in the form of business equipment or inventory, personal or other properties, heavy machinery, or any asset with a significant value.
US commercial mortgage lenders use guidelines similar to those used when applying for a residential loan. The applicant must provide a good reason for needing the loan. The property must have an acceptable appraised value. The location of the property is also considered. The credit history of the applicant, including the financial condition of the business is thoroughly investigated. In addition, commercial mortgages require significant collateral to secure the loan. This can be in the form of business equipment or inventory, personal or other properties, heavy machinery, or any asset with a significant value.
