Commercial and Multifamily Loans Are Available
News continues about the commercial and multifamily loans environment and it’s getting better. According to the Mortgage Bankers Association’s, they reported that the Commercial and Multifamily Delinquency Report, mortgage loans delinquencies were in decline in the first quarter of 2018. We also see that other news contributors are reporting in Forbes and Reuters that the US Commercial Loan industry is seeing a 12 percent gain.
According to Forbes, Contributor Larry Myler he give a few comments regarding this subject in an article he wrote titled Are Commercial Loans Making a Comeback? He reconfirms that banks are funding now and he relayed a few old tips, as we noted here.
Cash Flow is King – One of the fundamental of loan underwriting is assessment of the borrowers ability to repay. If you have a strong cash flow, your are a good risk
What is your net worth? – Banks like deals that can be collateralized by real estate, a company receivable or other assets. If you and your business can show a strong balance sheet, your chances of getting that loan go up dramatically.
Different institutions like different deals – It may take a few tries to find the right lender for your loan. Some will be interested in working with you an your business and others won’t. Try to not get discouraged, keep trying.
Be patient – The process of loan origination, underwriting and funding can be tedious and protracted, but it can also be well worth your time and effort.
At Los Angeles Realty Loans we continue to offer commercial loans . If have a commercial or multifamily project that is in need of a commercial loan, give us a call. Or visit our Main Website and fill out an application. A multifamily loan is typically building that contains more than five residential unites, apartments, or healthcare facilities. Mortgages are usually financed for a minimum of 40 years for LLC’s and Corporations. In most cases, multifamily loans are only approved for 90% of the total value of the property.
If you have any questions, call 877-250-3030