Assuming commercial mortgage - Posted by david

Posted by Don Dion on September 15, 2003 at 23:14:03:

The lender will send out a loan assuption kit to you that will have all the forms they need and the list of docs. Normaly it’s about the same as a regular loan. Not many commercial loans are assumed because of the downpayment needed since in most cases they dont allow for second mortgage’s.

Assuming commercial mortgage - Posted by david

Posted by david on September 15, 2003 at 19:08:31:

Hi,

Does anyone know what documentation a bank will usually ask from someone assuming a mortgage? Will they ask for a complete financial package or they just check your credit?

Thank you.