Comments on: Commercial Real Estate Financing Lenders and Considerations

By: Stephanie W

Stephanie W — Fri, 27 Nov 2009 19:07:49 +0000

first off, never buy a home that you cannot afford… your payments will go up every year due to taxes , for instance me and my husband bought a house at $101,000. our payments when we first moved in, with escrow included and a 6% intrest rate… were $701… now, only after living here 3 years, our payments are $968, and we recieved a letter saying that starting this coming july.. we are getting another increase…. and we do not have any fluctuating rates or antyhing… just all do to taxes… so… just be careful. always go for a home that you know you can well afford, because as the years go on, it wil increase by hundreds… but good luck anyways… try going to a bank for financing and see where they stand with you, because they are the hardest to try and get loans from.. but good luck.

By: sacfoil

sacfoil — Fri, 27 Nov 2009 16:33:36 +0000

Try looking for a company that provides sample business plans and guidelines. Be sure to check some references before you play any money.

By: David S

David S — Fri, 27 Nov 2009 16:29:49 +0000

Have you talked to a banker? Banks lend for Commerical property as well. Any large bank should do.

By: hugeshantz

hugeshantz — Thu, 26 Nov 2009 18:24:57 +0000

If you don't have income you will have no way to repay the loan, even with a large portfolio.

By: Elwood H

Elwood H — Thu, 26 Nov 2009 18:23:44 +0000

Lots of lenders offer 100% financing, usually in the form of an 80% first mortgage and a 20% second mortgage. All you need is excellent credit and an income sufficient to support the payments and your other debt.

By: hensleyss

hensleyss — Tue, 24 Nov 2009 10:02:36 +0000

I also had poor credit, but bought my first home last year. I went through a broker, instead of just getting a real estate agent. He was able to find a bank that would give me a "statement loan". That is where I had the money, just not the credit. They used my bank statements from the past year and seen that I had enough money to make house payments, and I was even able to get first time home buyer program, 0 money down, and the sellers paid the closing costs. There are ways, but my best way was to go through a Broker, who was able to help me tremendously!

By: Wordpress

Wordpress — Tue, 24 Nov 2009 09:47:00 +0000

Oh I know. I sat and watched as the money changing lady told me that my check from my employer hadn’t shown up yet. I showed her the papers saying that the check had been sent out two days before, and what do you know? It just showed up in my checking account, even though it was set up to go to my savings account which they closed because I used the atm card as a debit card, which was my fault. Still, she had to have put it in when I showed her the papers. Funny that it showed in the..