Bay Area Capital Commercial
How the Loan Process Works
||Searching for a Commercial mortgage loan? We'll be glad to answer your questions about our many mortgage solutions! Give us a call at 877-247-1884. Want to get started? Apply Here.
There is no question that getting a commercial mortgage loan is a complicated process. You wouldn't be here on our site if it were possible to fill out a one-page loan app and receive an excellent loan check cut in one day. Let us do the heavy lifting, so you can concentrate on your life rather than the mortgage loan.
There are four primary steps involved in getting a commercial mortgage loan.
Step one: determine how much you can borrow.
This is a function of a couple things. Lenders look at your situation "globally" which includes your income and expenses, and also look at income performance of the particular property in question. This is why a "blanket" commercial pre-approval is worthless; all commercial properties are uniquely different with their own mix of income, expenses, vacancy, capital improvements, square footage and NOI. How much of a monthly payment can you afford? What is the maximum you can borrow from a lender, given your income and credit history? Much of this will depend upon the performance of the property. We can guide you to the right loan amount and best programs when we have all information about you and the property as well. Based on standard lender guidelines, we'll get you a good idea of what kind of terms and loan programs you can likely expect to see.
Step two: pre-qualify for your loan
This is where the process really begins. You will provide details about your employment, your assets, and your credit and work history. You'll supply your employment, asset, and employment history information. We pull your credit score and report. After we've finished reviewing your information, we'll need to understand everything about the financial performance of the subject property.
It's time to apply for the loan. It couldn't be easier, and you can do it online, right here on our site.
Step four: funding your commercial loan
We do all the work to coordinate with the lender and title company to set your closing date.
Have questions about the loan process? Call Bay Area Captal Commercial at 877-247-1884.