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Updated over 8 years ago, 07/22/2016

User Stats

15
Posts
4
Votes
Lynsey Staes
  • Elmwood, IL
4
Votes |
15
Posts

What does "to look at your experience" for a commercial loan mean

Lynsey Staes
  • Elmwood, IL
Posted

I am fairly new to investing, and thus far have stayed in the residential market.  No commercial loans, however my end goal is to get to that point so I have been reading up on how to get the loan, requirements, etc.   I keep seeing "investment experience is taken into account" for commercial loans.  What exactly does that mean and how do I prove it?  

At this point, I am only doing research on the loans.  There have been a few 5 to 6 unit properties come up for sale, which I know means a commercial loan.  I figure before long, I will end up investing in these.  I understand the 25% down and how there is typically a balloon after 5 years, etc.  I am just not sure how to provide proof of experience... 

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