The
underwriters at Commercial Funding are on your side!
We work hard to help you get the loan you need! Call
or Contact Commercial Funding Today!
At Commercial Funding we give top priority to commercial
loan underwriting because we know that without good
underwriting support no commercial loan would ever close!
An efficient underwriting process is indispensable to
get the deal done..
The commercial loan underwriting process is initiated
only after you submit the completed '1003' and a 'tri-merged
credit report' along with your mortgage application.
The following points are taken into consideration in
the pre-approval and commercial loan underwriting of
Full Document Programs (among others):
Debt Ratio (DTI): The maximum allowable debt-to
income ratio for a Full Documentation loan is 45% and
for a Stated Loans Income/Stated Asset Loan DTI is 55%.
Income: All the application forms in the "state
income" category of our finance programs should
carry the income of the applicant.
Credit: We may consider the middle of the three
credit scores or the lowest among the two credit scores
of the primary borrower.
Assets: Verification of assets is only done
if it is thought to be necessary by the underwriter
who is conducting the commercial loan underwriting.
Employment: Generally verbal verification is
done before closing. The self-employed borrowers must
have a verifiable business while the closing is done.
Licenses: All borrowers (including commercial
and self-employed) must submit copies of current business
licenses among others. In case of automotive property
and property containing underground tanks, special license
is required.
Verification of Mortgage: When a mortgage is
not reported in the tri-merged credit report verification
of mortgage is needed, although it may be required even
if reported under some circumstances.
Verification of Rent: Verification of rent is
generally considered while the commercial loan underwriting
is done.
Rent Rolls: Rent rolls are required.
Estoppel Certificates: Estoppel certificates
are generally required. The estoppel certifies to Commercial
Funding that the tenant's rights of ownership are subordinate
to Commercial Funding's rights as the mortgagee.
Surveys: Surveys may be necessary depending
on the program and exceptions to title.
Title Insurance: Title Insurance is required
and Commercial Funding reserves the right to accept
the title insurer.
Use the Request
Quote form to submit the details of your borrowing
needs, and our experienced professionals will get back
to you with a free loan quote promptly. Or you can click
on one of the "Push to Talk" buttons on this
page and we will call you at your convenience you can
call our toll free number 888.520.8988 or call directly
at 415.921.7800. However you decide to contact us we
will be ready to help you with your commercial property
financing needs.
Commercial
loan underwriting is a keystone of the lending business.
Commercial Funding works hard to make it is as painless
as possible. Contact us Today for a commercial loan
quote!
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