Can I Obtain a Commercial Loan with No Money Down?
All loans require a 20% deposit. It’s possible to obtain a Mortgage House commercial loan with no money down. However, it requires that the applicant complete some alternative steps. For example, the applicant must bring a guarantor to the table. If the guarantor proves that they have financial viability, the applicant can obtain a 100% commercial loan.
In cases when the applicant cannot provide a guarantor, they can put collateral toward the debt. Mortgage House opened its doors in 1986 and remains an innovator in the lending market. Our clients receive access to our full product line of loans. Once an individual becomes our client, they also receive access to special rates, introductory offers, and discounts. This also helps those who cannot provide a deposit. For example, if you hold your mortgage with us, we can consider using your home as collateral toward the debt. In addition, it’s possible to use home equity in creative manners too.
Therefore, Mortgage House provides several avenues for solutions.
When you apply for a commercial loan with us, fill out the application completely. Then, attach the necessary financial documentation such as bank statements, tax returns, and balance sheet. Next, attach your plan for the financing. You’ll field that as you put it together it will help you become more confident in your plan. Otherwise, it will force you to make adjustments that make the request stronger.
Business owners interested in purchasing a home can start their journey with our Mortgage House home loan calculator.
Commercial Loan with No Money Down Conclusion
To obtain a Mortgage House commercial loan with no money down, contact our lending specialists to explore your options today.