Commercial Lease Doc Loan
What is a commercial lease doc loan? A loan which involves using the lease income from a commercial or industrial property to service the debt on the property on a standalone basis - not your business financials. In a nutshell, if the rental income exceeds the repayments over a 12-month period, then it is possible to get the loan approved without the need to show business financials. This type of loan is not very common; however, it can be found amongst a small number of lending institutions such as Better Choice Homes Loans. Assessing Commercial Lease Doc Loans - The lender will look at the debt and lease on its own. - This is good for businesses will unusual income streams that can't verify income. - The applications strength comes from the tenants and the property - not the business. - Lender assesses the debt on the property using the income of the lease only. If the lease income can service the debt, the lender won't considering other debts. Other considerations -...