Secure a Loan through Commercial Lending Corporation to Buy an Apartment Complex

When you are looking to purchase your own apartment complex and rental units, you most likely are going to require financing a good portion of the purchase price with a commercial real estate loan. Buying an existing community does require you to obtain financial details from the current owners. Commercial Lending Corporation (CLC) needs this information in order to help find you interested lenders. Details they are going to want to know include such items like current occupancy rates, total revenues collected, and net earnings, as these could have a direct impact on the LTV percentage. Your professional loan representative at CLC will let you know exactly what documentation is required, while helping you complete and submit your loan application to their wide network of financial partners.

The LTV percentage is the amount for which a lender is willing to underwrite a loan, based upon the value of the property, as well as the earnings of the apartment complex. For example, one mortgage program available through Commercial Lending Corporation allows qualified borrowers to receive a loan for up to 80 percent LTV. So, if you were purchasing an apartment community appraised at $1 million, you would be able to borrow up to $800,000 and have a down payment of $200,000. However, if you were able to negotiate and reduce the purchase price of the property to $800,000, you might be able to obtain your loan with no money out of pocket, because there would be $200,000 in equity after the sale.

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