Originally posted by "Rehab702":The deal is legitNo, certain strict qualifications apply, which no one here applies for methinks.

Although I don't meet your qualifications (I am a part time local of FL, but keep another home in New England), I would be glad to correspond with you on the ins and outs of commercial real estate.Feel free to contact me at anytime...Regards,P.S.

For each of these options, the borrower must meet certain qualifications, based on their circumstances.

While this may expedite the qualification process, how do you know in fact the person you are dealing with is truly who they say they are?

They may not assess for smaller projects but for the big ones, you're going to pay, regardless of financial stability.Second, it's not necessarily more difficult to get a mortgage on an investment, you just have more strict qualification guidelines and you have to put more money down than you do on an owner-occupied property.

The neat but sometimes frustrating thing about commercial loans versus Fannie loans is that qualifications and terms are not as clear cut.

@albert bui would the qualifications for a refi be the same as getting a conventional mortage?

In my personal experience I've called the asset manager to explain that I have a buyer who qualifies for a little bit les than the 10-15% net and they have told me that they will reduce the price to match my buyer's pre-qualification so that the offer can be approved.

In most cases, you must meet the qualifications of the government agency in order to assume the loan from the mortgagee.Conventional loans usually prohibit assumptions; however, a bank may be willing to allow you to assume a mortgage if the current owner is in a financial bind that jeopardizes the payback of the note.Also - if you plan of selling for 170k you are going to end up losing money in the end.

I liked a common piece of advice regarding being clear about the rental qualification process, requirements, and fees up front, and frequently.Based on that reading, I drafted the following as a cover page to the application itself.