Austin 2019 Construction Monthly

Anything less than
a 740 credit score,
will increase your
monthly payments
and interest rates
or even prevent you
from being approved.
When looking to take out a commercial loan, the
most important factor is your credit score. Having
a very good credit score, 740 and above, will increase
your likelihood
of obtaining
a loan. Anything
less than a 740
credit score, will
increase your
monthly payments
and interest
rates or even
prevent you from
being approved.
Debt is another aspect to take in consideration. If
you have financial debt, it’s best to take care of it
before seeking a loan. Having a lot of debt makes
it difficult if not impossible to be approved for
a loan.
If you’re in a good position to obtain a loan, you
need to decide who your lender is going to be.
Large national banks are a viable option; however,
they don’t have much room for flexibility. National
banks want to be certain that they get their
money back. As such, they won’t approve loans
for properties that they deem risky and, they usually
require large down payments.
An alternative option to taking out a loan directly
from a large bank is to go through a private broker.
The biggest benefit of using a broker is having the
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