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Updated almost 2 years ago,
Commercial vs Conventional Loans
Hi Everyone,
I know the when applying for a conventional loan it is required to show proof of funds at a minimum of 60 days out from the time you apply for the loan. For example, if I'm buying a house and will be putting $100K down, from an account that is separate from my checking account that I use daily, those funds need to show in my account 2 months prior to my loan application.
When applying for a commercial loan, are these requirements still necessary? Or anything similar?
Any insight on this would help, thank you!