We realize the complexities
of owning and running a small commercial property. Therefore,
we have devised a streamlined method to provide you financing
on a "Stated Income - Stated Asset" underwriting criteria.
Our loans are approved without the need for extensive paperwork
such as tax returns or bank statements. In most all cases we can
approve a loan within 48 hours from receipt of a competed application.
DOCUMENTS REQUIRED FOR PRE-APPROVAL
- Commercial Funding's Mortgage Application (or 1003)
- Commercial Funding's Loan Supplemental Form
- Purchase and Sale Agreement (for purchases)
- A Tri-Merge Credit Report Copy
- Income & Expense (operating history) for prior 24 months
- Current Rent Roll (Multifamily) or Lease Summary (Commercial)
- As many Photos as possible including front, and/or side, rear, parking and street scenes (electronic photos are preferred)
Stated income and stated assets allows self-employed borrowers
who cannot verify all of their income to qualify for financing.
One of the things that differentiate Commercial Funding from the
more conforming commercial lenders is that we do not verify the
borrower’s personal income. We require a completed Mortgage
Application with the borrower income and assets stated for pre-approval.
The only income verification we require is on the subject property.
We lend on the following property types:
- Mixed Use/Storefront Apartments
- Retail/Unanchored shopping Malls
- Assisted Living
- Special Purpose Properties:
Camp Grounds, Laundry Mats, Funeral Homes, Marinas, Outdoor Entertainment
Centers, Bars, Restaurants, Movie Theaters, Trailer/Mobile Home
Here are some of the other features of our product:
- Lending in the Name of Corporations, Trusts or LLC
- Seller Seconds to 90% CLTV
- Gifts of Equity
- No Employment Seasoning
- Unlimited Cash Out Refinance