Do I need money or any credit score to borrow 1million dollars loan to buy small commercial realestate?
Where can I need help for expert in realestate investing?
You will need 680 credit to get a loan easily. Depending on the type of property, how well it cash flows and how the contract is written, you will likely need 10-15% down payment. An SBA loan may be a good way to go. You can talk to most major banks and even credit unions about getting one.
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November 24th, 2009 at 6:36 pm
Would you lend someone 1 million dollars with poor credit score and no collateral? Thought so.
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November 24th, 2009 at 6:46 pm
Take an English spelling and grammer class first!
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November 24th, 2009 at 7:09 pm
You will need 680 credit to get a loan easily. Depending on the type of property, how well it cash flows and how the contract is written, you will likely need 10-15% down payment. An SBA loan may be a good way to go. You can talk to most major banks and even credit unions about getting one.
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November 24th, 2009 at 7:22 pm
where can you need help? dont make sense!!!!
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November 24th, 2009 at 7:59 pm
Try ibank.com.
Commercial properties are mostly judged by their revenue stream.
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