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July 21, 2017
Not all commercial real estate lenders are created equal. Each lender has their own differences and peculiarities. When evaluating your income for loan purposes, some banks will take the debt service coverage ratio (DSCR) of just the property that you are financing. Others however, will take into account all of your other properties to arrive at what it’s called the global debt service coverage ratio. This can be troublesome for some borrowers. If they are just breaking even on one or a few properties, it could negatively affect them on another property they are trying to find. It is useful to get a sense of which lenders use the global debt service coverage ratio and which do not. Aurum & Sharpe has extent extensive experience in navigating the confusing lending environment. We evaluate whether your global debt service coverage ratio […]
July 21, 2017
If you’ve looked to finance a commercial property in the last 3 to 5 years, you know that banks are happier to say no then they are to say yes. In this environment, it is imperative that you know your options. The first and most important step to ensuring that your application will be approved is making sure that your loan officer puts together a winning loan package. The loan package describes who you are to the lenders. It needs to put your best foot forward as it explains your challenges in the most honest and accurate way. Banks and lenders will deny your loan on the slightest pretense of instability. Provided that you are qualified, as long as you follow the steps in this outline, your loan application should be successful. Step 1: Gather all your financial documentation and […]