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Are there any
up-front fees or costs?
No. CommercialBanc will review your documentation, determine
program eligibility, and issue a conditional approval all
without any cost to you.
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What if I don't qualify for the loan program that I am
applying for?
CommercialBanc will determine if there are other programs that
you qualify for, and if so, issue a prequalification for those
programs.
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What if there
is a better program for me?
Both our loan registration team
and your assigned loan representative will review your
submission to ensure you are receiving the most competitive
commercial financing that CommercialBanc offers.
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What documentation do I need
to submit initially to CommercialBanc?
The documentation required depends on the loan
program that you have selected. Most programs require the
following:
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Subject property rent roll |
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Collateral questionnaire |
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Subject property income and
expense statement for the
two previous years,
including a year-to-date |
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Sales
contract if a purchase transaction |
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Do I have to submit the requested documentation to get a
response from CommercialBanc?
Yes. In order to provide you with an
accurate prequalification, lowest interest rate, and best
overall terms, CommercialBanc requires this basic information.
When underwriting a commercial
loan, we look primarily at the property and the property's cash
flow as the primary source of repayment for the loan - property
and business for owner occupied properties. Without properly
qualifying the collateral, via the requested documentation, we
can't properly serve our clients.
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Once I submit the required initial documents, how long does it
take to receive a response?
CommercialBanc will respond to your request within 48
hours.
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