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How to qualify for commercial refinancing

This article will tell you how to qualify for commercial mortgage refinancing with The Mortgage Store Online.

To qualify for commercial refinancing, you need either good credit, verifiable income or equity in property.

Good credit to qualify for commercial refinancing

With The Mortgage Store Online, you can use your good credit to qualify for commercial refinancing. Good credit is when you have a credit score over 680 points (my brokers can look up your credit score for you).

How does good credit help you qualify for refinancing? Mortgage lenders need to know you can pay back the refinancing-money they lend you for your commercial real estate. When you can show them you have good credit they'll know you can pay them back and will be willing to lend you refinancing-money for your commercial.

Using your good credit to qualify for commercial refinancing is a great way to go. Why? Cause you can also get away with not showing your income. If you're self-employed, make inconsistent income or haven't been in an employment position that long, not having to show your income to get a mortgage-loan refinancing can be a relief!

Qualify for refinancing today. Fill out the commercial mortgage application.

Verifiable income to qualify for commercial refinancing

With The Mortgage Store Online, you can use your verifiable income to qualify for mortgage-loan refinancing. Having verifiable income is when you have steady, provable income like employment or investment income.

How does verifiable income help you qualify for refinancing? Mortgage lenders need to know you can pay back the refinancing-money that they lend you for your commercial real estate. When you can show them you have verifiable income they'll know you can pay them back and will be willing to lend you refinancing-money for your commercial.

Qualify for refinancing today. Fill out the commercial mortgage application.

Equity in property to qualify for commercial refinancing

With The Mortgage Store Online, you can use your equity in other-property to qualify for commercial refinancing. What's equity in property? It's when you have money invested in a property, whether you completely own it or have a mortgage on it that's somewhat paid off.

How does equity in property get you commercial mortgage qualification?

If you have equity in property by completely owning another property, you can use it to give mortgage lenders some security in their mortgage lending with you. And when you give lenders security in their lending, they'll usually have no problem lending refinancing-money to you.

If you have equity in property by having a partially paid off mortgage on that "other-property," even that smaller amount of equity gives mortgage lender's security in their lending with you. Even if your equity in that other-property is only 5% of that property's purchase price, it's still enough equity to give lenders security - and make them want to give you commercial refinancing.

And if you use your equity in property to qualify for commercial refinancing, you can get away with not showing verifiable income. If you're self-employed, make inconsistent income or haven't been in an employment position that long, not having to show you have your income to get a refinancing can be enlightening!

Qualify for refinancing today. Fill out the commercial mortgage application.

Find out more about commercial refinancing topics, by contacting The Mortgage Store Online's brokers. Just use the refinance contact form or call them at 1-866-674-0548.

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