Marilyn.ferg…, Other/Just Looking in Chicago, IL

I am looking to buy a commercial property. I have poor credit and my husband has "ok" credit. Where do I start?

Asked by Marilyn.ferguson1, Chicago, IL Mon Dec 2, 2013

We are both military. Is it possible to get a loan?

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Answers

4
Thomas Moser’s answer
Personal credit matters less for commercial property then it does for residential. Your lender will be more interested in determining if the property supports the loan. The larger the commercial property the less they rely on your personal credit.
0 votes Thank Flag Link Wed Dec 11, 2013
Personal credit matters less for commercial property then it does for residential. Your lender will be more interested in determining if the property supports the loan. The larger the commercial property the less they rely on your personal credit.
1 vote Thank Flag Link Wed Dec 11, 2013
Personal credit matters less for commercial property then it does for residential. Your lender will be more interested in determining if the property supports the loan. The larger the commercial property the less they rely on your personal credit.
0 votes Thank Flag Link Wed Dec 11, 2013
Hi Marilyn,

Talk to a commercial lender, I can refer you to one. I'm not sure of the minimum fico requirement but I'm sure he can steer you in the right direction. Let him know that I referred you.

Here is his info:

Thomas Attak
Marcus & Millichap
(773)867-1447
thomas.attak@marcusmillichap.com

Thanks,

Ashley Pimentel
Market Place Mortgage
Lombard, IL 60148
Phone: (630) 217-7013
apimentel@marketplacemc.com
0 votes Thank Flag Link Wed Dec 11, 2013
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