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Frequently Asked Questions |
| Q.
What is a Stated income commercial loan? |
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A.
You "tell" us what you make. We do not ask for
any supporting documentation.
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| Q.
How could I use an Commercial equity loan? |
A.
You could use the money for any purchase. Such as sending
a child to college, paying medical expenses not covered
by insurance, or starting/expanding your own business.
The equity you have in your business is your money.
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| Q.
Is there a limit on the amount a Commercial owner can
borrow? |
A.
Yes, all loans are limited to 75%-80% of the market value
of the property.
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| Q.
What is an "interest only" loan? |
A.
This loan can cut some payments almost in half!
You have a minimum payment per month. To pay it off you
just send what principal payment per month that you are
comfortable with. Some months are better then others as
we all know..
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| Q.
What is an ARM mortgage? |
| A.
It
usually has a fixed period then it starts to go up
or down based on current mortgage interest rates.
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