Commercial Real Estate Financing requires a unique set of Forms and Applications. While some Programs use the Residential Mortgage Application, known as the 1003, many do not.
On this page you will find the Commercial Financing Forms and Applications needed by Commercial Capital Limited, LLC, along with a brief description of each.
Keep in mind that when completing any of these Forms and Applications, it is crucial that you complete ALL of the information requested. If you do not understand something, simply let me know and I will walk you through it.
If you provide incomplete information it will only slow down the process. So, when in doubt, fill it out! Or at least ask.
Also, something else you need to consider. And this is a BIGGIE! If you are talking to other Bank or Mortgage people about your situation, and you either do not provide them with documentation, or they do not ask you for it, it is impossible for them to give you any kind of “real” answers.
Unfortunately, this happens more often than you would imagine. It can happen if the Bank or Mortgage person you are talking with does not really know and understand Commercial Real Estate Financing, so he/she just doesn’t know what to ask you, or what documents to ask you for.
It’s not your fault. You believe they know what they’re doing, when in many cases they don’t. A major cause of this nowadays is the result of the residential mortgage market.
Many Residential Brokers and Loan Officers are scrounging for deals, so if a Commercial Loan comes up they want to help. But, because they think Commercial Financing is the same as Residential, they make mistakes.
The point is, make sure you talk to someone who is experienced in the Commercial Real Estate Financing or Mortgage Market. It will save you time and a lot of unnecessary grief, not to mention money!
It’s important to understand that you are not applying for a Residential Mortgage. This is Commercial Financing, which is a completely different animal.
If you haven’t read the pages What is Different About Commercial Real Estate Financing? or Commercial Mortgage Process, please go back and read them.
It will be worth you taking the time to read the information and view the videos on those pages.
If you haven’t already done so, the first place to start is to complete the Commercial Deal Screening Form.pdf, and either email or fax that to me FIRST.
Remember, if you have questions complete the Commercial Deal Screening Form FIRST, and include your questions with the completed Form. I cannot answer your questions unless I have this basic information.
Here is the Commercial Deal Screening Form: Commercial Deal Screening Form.pdf
One standard Form you will need for just about any type of Commercial Mortgage is a Personal_Financial_Statement.pdf This will come in handy, so print a copy and start filling it in.
Next, if you’re dealing with a Multi-Family Property you need to provide a Rent Roll. This is an Excel Spreadsheet, so make sure you open it with Excel.
Multi_Family_Rent_Roll_080702.xls
Also, if you’re new to Multi-Family Financing you might find this handy. I normally give this to my folks who are new to Commercial Real Estate Financing.
It basically tells you what you will need to provide us to have in order for us to evaluate financing for your Multi-Family property. Take a look, it might help.
Multi_Family_Pre_Qual_080702.pdf
As an Investor in Commercial Real Estate you will find yourself from time to time having to write an Executive Summary.
This will show exactly what you need to know
How_To_Write_Commercial_Loan_Executive_Summary.pdf
