No documentation commercial loans

[John Wilson]

Has anyone had any experience with no doc commercial loan programs ?  I’ve got a property under contract and trying to look at all of my options ,either conventional ,or no doc commercial multi family loan.   I’ve got about 55 days left out of the 60 days to close ,on my first commercial deal.  I keep hearing about the war stories about conventional financing ,sometimes  taking longer  than the 60 days to get to the closing table Due to all the due diligence , I was wondering if anyone has had any experience with the no doc commercial loans?      Thanks for whoever will respond greatly appreciate it

[Salvatore Lentini]

@John Wilson I concur with @Ryan O'Mara. No doc doesn't really exist. There are varying levels of "low doc" loans. The main component that concerns most investors looking for this type of loan is whether or not the lender underwrites your loan based on W2 income and your tax return. The investor friendly lenders I work with for my portfolio do not. Your rate will be based on credit score, experience, LTV, location and DSCR (basically cashflow). What type of commercial property are you looking at?