They are going to base the approval on how they feel about you and the numbers for this particular project.Portfolio or Commercial Lending is about RELATIONSHIPS!!!

The borrower draws when they need money and pay down both principal and interest monthly - If they need more money they draw again.I've approved maybe 1 in 12 700 FICO borrowers.  

I already have gotten a funding approval for this property, and now I am sitting here in LIMBO.Another seller I have contacted owns a house that will probably need to be torn down.

Renting an SFR can be faster than renting a condo that requires association approval, as ours do.

I've been approved with Wells Fargo

People buying homes will generally do this.1. get pre approved... and they need good credit as we know and DTI say 30 to 40% and they can afford a 1000 a month lets say.

I've noticed several ads for mobile's have a statement along the lines of "Purchasers must apply for and be approved to reside within our Community".  

Any informed seller laughs the "partner approval" crap.  

With much of the work done to annex into a village with ample services for single family, multifamily or nursing home facility pre-approved and much of the legal work done this could be a great opportunity.

Institutional lenders tend to shy away from approving and funding assigned contracts.