Consumption and Real Estate
What’s The Best Route To Get A Non-Recourse Commercial Land Loan on a 60%-65% Appraised Value of the Property?
Question : What’s The Best Route To Get A Non-Recourse Commercial Land Loan on a 60%-65% Appraised Value of the Property?
commercial land loans
Best answer:
Answer by MLaw
The telephone. Start calling mortgage lenders & brokers.
Only your mortgage broker or banker can tell you because they all have slightly different rules. If you use a broker they will do the leg work for you, and I’m sure they are all looking for business these days. The mortgage banker usually represents one entity and if he can do it, than he won’t be able to help you at all.
Just use your local phone book and start calling……
FYI, non-recourse for any commercial investment is relatively rare, until you become relatively big cheese and can take your business away unless they take away the person gaurantees…