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Is there seasoning issues on pulling equity out of a commercial property if recently purchased well under the market value?

Marlton,NJ | Feb 8th 2012
by rebecc_...
Answer


by ralph@a...

Usually not, of course you have to meet all other loan requirements that commercial lenders need. Residential and commercial loans have similarities but also have different set of requirements as well, as long as the property debt services the LTV I don't see why not...Any other questions, click on my picture to get my contact info...Good Luck

Feb 8th 2012
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by william

The short answer is no.. The long answer goes like this.. Commercial lenders are not governed by the same laws, rules, and regulations that lenders who lend on residential loans. Each commercial lender has their own set of guidelines. When you describe your property as "Commercial", much, much, much more information is needed.. What exactly is it.. Apartments, shopping mall, office complex, warehouse, etc... And does this commercial property produce income?? or is it used in your business??.. When you say you purchased it well under market value, how do you determine this.. Was an appraisal done? Which valuation did he use?? ... Best advice I can give you is to contact a local commercial mortgage broker, not a bank, and start an application with them... once they see the complete scenario; they will be able to show you exactly what you can do... WilliamAcres.com

Feb 8th 2012
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