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Updated over 2 years ago on . Most recent reply

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79
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26
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Jesse Kerr
  • Fairfield, CA
26
Votes |
79
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Lenders - need commercial financing terms

Jesse Kerr
  • Fairfield, CA
Posted

Hi, 

What I need regarding long term commercial financing:  

Need to use my own appraiser

<75k loans 

Able to "buy" out of prepaids and/or adjust. 

3 month seasoning

Provide min credit score.

Most Popular Reply

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1,831
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Scott Wolf
  • Lender
  • Boca Raton, FL
908
Votes |
1,831
Posts
Scott Wolf
  • Lender
  • Boca Raton, FL
Replied

@Jesse Kerr this is a very confusing post. So I'll go through step by step

I don't think any lender is going to let you use your own appraiser.  

Sub 75k loans are tough, so you may be going through a private lender until you have more properties to qualify for a blanket mortgage.

Buying out of a prepaid (if I understand this train of thought) is exactly what a prepayment penalty is for.

3 month seasoning (see private lender)

Not sure what you mean by the credit score comment.  Either the credit score matches their criteria, or it doesn't.

Happy to talk through what you're looking for more though.

  • Scott Wolf
  • Loading replies...