Fairview Commercial Lending FAQs

Do you have a question not answered below?  Please e-mail us.

Process / Loan Submittal

  1. What upfront fees do you have?
  2. What documents do you need to start the process?
  3. What type of clients utilize this product?
  4. How do I submit a loan?

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Program Details

  1. What property types do you lend on?
  2. What is your min/max loan amount?
  3. What is your max LTV?
  4. How do you calculate LTV?
  5. Why is your loan to value only 60%?
  6. What type of programs do you offer (interest only, etc..)?
  7. What are your rates?
  8. What is your minimum credit score?
  9. Can you do a CLTV?  If so what is the max?
  10. My borrower has good credit, but wants a “no-doc” program, can they get a better rate?
  11. How do you determine rate?
  12. Are you okay with tax liens?
  13. Can you lend on a commercial property that is fully owner occupied?
  14. What if the borrower is currently in foreclosure?
  15. Do you do second mortgages?
  16. Can you help a company with cash flow issues?
  17. Can you help with the turnaround of a company?
  18. Can we close the loan in a corporation, LLC, etc…?
  19. Can you lend to foreign nationals?

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Underwriting / Valuation

  1. Is your evaluation the same as an appraisal?
  2. How do you value a property?
  3. I have an appraisal, can you use it?
  4. What is DSCR (debt service coverage ratio)?
  5. How is DSCR calculated?
  6. Why is DSCR important?
  7. Does Fairview Lending require a debt service coverage ratio greater than one?
  8. How is the debt service coverage ratio calculated for a fully owner occupied property?
  9. What if the property does not cash flow?
  10. How do you value a non-cash flow producing property?
  11. What is Cap Rate?
  12. What Cap Rate do you utilize when valuing a property?
  13. How is cap rate utilized?
  14. What is the formula to calculate value based on the income approach?
  15. How do you value a fully owner occupied property since there is not a rent roll?
  16. How are underwriting decisions made?

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Closing

  1. How soon can you close?
  2. Do you require an environmental?
  3. Can you do a 6 month interest reserve?
  4. How are you able to close without an appraisal?
  5. Do you have other closing fees?
  6. Explain your pre-pay?
  7. How is your pre-pay different from other lenders?
  8. What is defeasance?
  9. Do your loans have defeasance?

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Brokering Loans to Fairview

  1. How does a mortgage broker get paid? 
  2. What do I need to do to get set up as a broker with you?
  3. Is there Yield Spread?
  4. Do you allow table fundings?

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Questions Regarding Fairview

  1. How is Fairview Commericial Lending different from other competitors?
  2. How is your program different from a hard money lender?
  3. Do you fund your own loans?
  4. Do you service your own loans?
  5. Are you a broker?
  6. Where is Fairview Lending located?
  7. What associations is Fairview Lending a member of?

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Other Questions

  1. What is factoring (definition, etc..)?

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