352-636-4319         Mount Dora Homes for Sale   Jaret Whitney        


Mount Dora
352-636-4319
Mount Dora homes for sale



Featured Listings
Mount Dora
Reduced Price
Foreclosures



 Real Estate Reports Search Engine  
Select your search criteria
All Words Exact Phrase Any Words



Mortgage Funding Info

The reason why most commercial mortgage deals don't get funded is not because you can't find a lender. More often than not, the reason can be traced back to the "presentation" of the loan request. For example, when completing a residential loan, you fill out a 1003 using Point, Genesis, or another FNMA 1003 program. For a commercial loan request, what do you fill out

Since there is no uniform commercial mortgage application, most brokers submit a 1003, an operating statement, and possibly a rent roll. However, this would be akin to submitting only the borrower's tax return and pay stubs, expecting a preliminary approval. In other words, it is clearly inadequate.

"A s lenders we see hundreds of loan requests, and most of these requests are incomplete and poorly prepared," says Chris Lewis, VP of Commercial Lending for Wells Fargo, Los Angeles. "Complete loan requests, however, go to the top of the stack as this shows that the broker understands the issues and has some control over the deal."

P ackaging a commercial mortgage loan is significantly different than packaging a residential loan. The main difference is that you need to determine whether the property -- not the borrower -- is generating sufficient "rental" income to cover the mortgage payments on the proposed loan amount (e.g., DSCR), and whether there is commensurate value to meet the lenders' loan-to-value requirement (e.g., LTV).

To calculate the DSCR and LTV, the stabilized net cash flow (NCF) must be determined. In most cases, lenders must re-create the operating statements to conform to their respective underwriting models, which requires identifying certain property-specific expenses.





Your Contact Information
(Please complete. Required Fields in Red)
First Name:

Last Name:

Daytime Phone:
Email:

Street Address:

City:
Comments:
   
Copy The Word In The Image.




QUICK
SEARCH





YOUR REALTOR®
Jaret Whitney




352-636-4319




MOST
POPULAR AREAS



FREE
DAILY UPDATES

  • Automated Home Searches
  • Favorite Properties
  • Email Updates
  • Foreclosure List
  • Recently Reduced
  • Lots More!

  • Full Name :
    Email :
    Location :



    INSTANT
    HOME EVALUATION

    Street :
    City :
    Zip Code :







    MARKET
    ANALYSIS





    .


    Contact Our Office

    352-636-4319
    18610 US Hwy 441
    Mount Dora, FL 32757
    Jaret Whitney
    Recent Posts

    Send A Message
    Name
    E-Mail
    © Copyright 2015 - Real Estate Web Design - Featured Communities - Privacy Statement - Site Map - Blog