Commercial

Return to Product List


DOCUMENT TYPES	PROPERTY TYPES	LOAN TYPES
FULL DOCS 3 years tax returns 12 months financial statements Current balance sheet Cost estimate of project Performa of project MAI appraisal STATED INCOME Available on limited basis Income not proven Credit score driven Cost estimate of project Performa of project Appraisal type varies	Agricultural Automotive Churches Hospitality Industrial Land Leisure Medical Mixed use properties Multifamily Office building Office condos Owner-occupied Parking lot sites Rehabilitation facilities Retail Self storage Special purpose building	Acquisition Bridge loans Construction Development Joint ventures Lines of credit Mezzanine Purchase Refinance: cash out Refinance: rate & term Remodel Renovation Second mortgages Lines of credit

FAQ's

Q:What is a fixed rate mortgage?
A: A mortgage in which the interest rate remains the same throughout the term.

Q:What is underwriting?
A: The process of making a decision to approve a mortgage loan.

Q:What are discount points?
A: Prepaid interest that is paid at closing. One point is equal to 1 percent of the loan.

Q:What is Debt-To-Income Ratio?
A: Also called DTI, this is the ratio between the borrowers income and their liabilities

Q:What is an ARM?
A: This is an adjustable, or variable rate mortgage where the interest rate will adjust periodically based upon a predetermined index.

Q:What is LTV?
A: This is the loan to value ratio between the loan amount and the purchase price or appraised value.

Q:What is PITI?
A: This refers to the monthly payment; principal, interest, taxes, and insurance.