Buying a rental property? The financing game has changed drastically and we should all adapt to its new conditions. If your goal is to purchase a multi-unit rental property, then you are already on the right track, but there are more than a few things to consider here as well. One of them is the […]
The term Bridge Loan is used to refer to a short term loan which is used to fund an real estate investment or other purchase until the moment that permanent funds become available or an existing obligation is removed. Getting a bridge loan provides immediate cash flow that is essential to allow the borrower to […]
This article is a part of a series that deals with commercial and non conventional financing solutions that we at Edward Voccola & Co, LLC mortgage brokerage make available to our clients. Many potential clients who come to us seeking commercial and private mortgage solutions are confused as to what down payment will be required […]
Are you interested in a construction mortgage? There are two types of construction mortgages that you can go for: completion construction mortgage and progress draw construction loan. Completion construction mortgage You should apply for this loan when you are purchasing your home from a qualified builder at a fixed price upon completion of the building. […]
Business locations such as offices, shops and factories are an extremely important asset for any business. However, the initial purchase costs, or building and construction costs of these premises can cause cash flow problems for even the most cash flow generative of companies. A commercial mortgage can potentially be a great way of spreading the […]
If you are a small business owner or a contractor that is looking for a loan, you should consider a stated income loan. The problem that most people who are self-employed have when applying for loans is proving income. Because you work for yourself it is difficult to get the traditional W-2s or pay stubs […]
Stated income commercial loans have been a decent option for borrowers that do not show enough income on their tax returns to qualify for bank financing. These loan programs allow the borrower to “state” both their personal and business income, though the level of documentation varies from one lender to the next. In addition stated […]
Many borrowers that have “hair” on their potential commercial loan are forced to look at both the commercial stated income loan or the commercial hard money loan. Although both loans fit within the commercial “sub-prime” category, both fall into different niches. Neither option is ideal for the borrower, but either loan can be a viable […]
