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George Tesfa

What is the main difference between the qualification of residential mortgage vs commercial loan ?

The main one is the income that needed to service the debt, means making a mortgage payment. Residential depends on check stub and W'2 where as commercial loan depends on the rental income from tenant. The strength of the tenant of the commercial property vs the length of the employment or saving of the home buyer in residential etc. The second one, is in residential, we call it debt to ratio means the mortgage payment debt and other debts to your income. In commercial, it is called debt to service ratio, means the net income from the rent to the mortgage payment. Hope this helps.

George Tesfa
http://www.amerimort.com

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What is the main difference between the qualification of residential mortgage vs commercial loan ?

By George Tesfa   
Posted on Apr 15, 2019 in Topic: Education
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The main one is the income that needed to service the debt, means making a mortgage payment. Residential depends on check stub and W'2 where as commercial loan depends on the rental income from tenant. The strength of the tenant of the commercial property vs the length of the employment or saving of the home buyer in residential etc. The second one, is in residential, we call it debt to ratio means the mortgage payment debt and other debts to your income. In commercial, it is called debt to service ratio, means the net income from the rent to the mortgage payment. Hope this helps.

George Tesfa
http://www.amerimort.com
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Posted: 1 month ago
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Michael hussey
about 3 weeks ago
I am very thankful having this information but It is not enough for me fully understand the difference between qualification of residential mortgage vs commercial loan can you provide me the full description related to this topic because with this I am able to get more points in or otherwise I’ll take https://www.assignmentmaster.co.uk/ help to get fully written paper by them.


about 3 weeks ago
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Colince Charlsce
about 2 weeks ago
Commercial loans are usually portfolio loans Therefore the term of a commercial mortgage loan is typically far shorter than that of a home loan. you can refer to http://nacopapers.com/research-papers/topics for more information


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https://www.c-loans.com/

about 2 weeks ago
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Rosy Williasm
about 1 week ago
As a result, commercial mortgage loans are usually portfolio loans. This means that if a bank makes a commercial mortgage loan, it pretty much has to keep that commercial mortgage in its portfolio for the entire term. Therefore the term of a commercial mortgage loan is typically far shorter than that of a home loan


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about 1 week ago
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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