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Updated over 5 years ago on . Most recent reply

Rachel Goldberg's profile image
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Rachel Goldberg
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  • from New York City, New York
  • Member since Aug 2, 2015
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Rachel Goldberg
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Rachel Goldberg
  • Real Estate Professional
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Commercial Real Estate Investing

Preapproval for commercial loan

Rachel Goldberg
  • Real Estate Professional
  • New York City, NY
Posted

Newbie here looking at commercial/multi family properties- do I need a bank preapproval? TYIA

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Lien Vuong
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Lien Vuong
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Lien Vuong
  • Real Estate Agent
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Replied

If you're going straight investor loan there are pre-qualifications but typically it is per property meaning rent roll, expenses, NOI, income info is what determines if the property is financable, you're only one component of it.

With residential owner occupieds, you and your financials will have more weight in the deal rather than the property itself. 

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