No Credit Check Commercial Mortgage Loans
Select Commercial has excellent options available for no credit check commercial mortgage loans. Many borrowers who are self-employed, or have experienced credit problems, have difficulty qualifying for a commercial mortgage from their bank. We offer many loan options for borrowers with less than perfect credit. These loans are sometimes called No Credit Check loans, Bad Credit commercial mortgage loans, or Poor Credit commercial mortgage loans. Many borrowers have past credit issues, which if properly explained and documented, should not necessarily cause a loan rejection. Lenders usually want to see that the problem has been resolved and in the past. Borrowers should make sure to resolve any open issues before applying for a commercial mortgage loan. Some examples are as follows:
- Borrowers with past bankruptcies – most commercial mortgage lenders do not want to entertain loan requests from borrowers with past bankruptcies. Our no credit check loan might be a good option.
- Borrowers with past foreclosures and/or short sales – the past housing crisis caused many borrowers to lose properties in foreclosure or give the property up in a short sale. Our bad credit commercial loan program will consider these requests.
- Self employed business owners with tax liens or judgements – many small business owners run into periodic problems due to IRS tax liens or other judgements. We will consider loan these commercial mortgage requests and pay the outstanding balances off at closing.
- Borrowers with slow payment histories – many small business owners and property investors run into periodic cash flow problems that cause them to be late on their overall debts and have poor credit ratings. Our commercial loan program for poor credit allows these borrowers to get a clean start and re-establish better credit.
- Borrowers who need debt consolidation – many business owners and property investors amass large amounts of debt that causes a drain on their cash flow. Sometimes, a debt consolidation loan is in order.
Whether you are purchasing, refinancing, or looking for cash out, we have the right solutions available for your no credit check commercial mortgage loan.
- No upfront application or processing fees
- Simplified application process
- Up to 75% LTV
- Terms and amortizations up to 30 years
- Loans for purchase and refinance, including cash-out
- 24 hour written pre-approvals with no cost and no obligation
- Fast approvals and closings
- No minimum credit scores required
- Past bankruptcies, foreclosures, short sales, liens, and judgements all considered
- Strong focus on real estate value and not personal strength of the borrower
- Debt consolidation loans easily approved
- Loans that are not FICO driven