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Questions to Ask Yourself1. Are you and your business credit worthy?Your personal and business credit ratings will be analyzed. 2. What kind of money do you require for your property? Short, long, intermediate term money or equity capital. 3. How much money do you need? present exactly what you need and what it is for. 4. Do you have sufficient collateral? Your collateral must be more than the loan amount. 5. What are your Lender’s rules? Ask about the Loan to Value’s and Debt Coverage Ratios. 6. What kinds of limitations will be set by you? Know your comfort level with rate, payment, term, and amortization.
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©2003 The Chicago Commercial Mortgage Group Site designed by Steven Tazic and maintained by VPIC, Inc. |
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