Saturday, May 23, 2009
Is there a standard commercial mortgage loan application?
While some commercial mortgage lenders will accept a form 1003, most have their own application. A form 1003 is a standard uniform mortgage application supplied by Freddie Mac / Fannie Mae. However, it is a residential application and any commercial lender that will accept it will also require other documentation to support it. While a 1003 contains a personal financial statement, it is not designed to report on the property's cash flow. An income (or operating) contains that information.
Subscribe to:
Post Comments (Atom)
The info you posted is very informative and easy to understand. may I have your permission to repost this on my web site?
ReplyDelete