Conventional Conforming Commercial MortgagesAll borrowers want the best rates and lowest cost to finance their commercial mortgage property. Yet most borrowers do not qualify. With a Stated Non Conforming Commercial Mortgage many borrowers who otherwise could not qualify for financing are now able to.Conventional loans require tax returns for the past two to three years to verify income and expenses. They require bank statements for the last two to three months to source and season down payment and reserves. Conventional loans generally require higher credit scores and years of experience owning and managing similar commercial property types. And Conventional financing takes much longer to close.Stated Non Conforming Commercial MortgagesFor more lenient underwriting and quicker closing you may want to choose a Stated Commercial Mortgage. Though the rate may be higher many commercial real estate investors and small business owners will do better with this type of financing for many reasons.First the lender generally does not require tax returns. This helps the borrower to truly qualify based on the income generated by the property. If it is a good investment and the property can service the debt and meet the minimum debt service coverage ratios the loan qualifies.The Stated program does not require funds to be seasoned. They only require funds to be sourced. For conventional financing the funds must be seasoned for two to three months or longer. This requirement also helps many borrowers to qualify for the Non Conforming program.Many Conventional lenders require a 680 FICO score. Some even require 700 or higher. Not only do they require the high FICO they also require years of experience owning or managing a similar property type. For an agency loan (FNMA, FHLMC, FHA, etc.) You must have if you want to purchase and finance a 12 unit property having owned only 1-4 unit properties would not help you to qualify. They may require you to pay for an experienced property manager to get their loan.The average conventional commercial loans take 60 days to close. This is even longer for agency loans that can take 90 days or longer to fund. Yet, with the Stated Income program the loan closes in 2 to 4 weeks.But maybe the most important reason to do a stated non conforming commercial mortgage is because they may be too small. Many conventional lenders will not finance loans under $500,000 or maybe even $250,000. The agency lenders require their loans to be at least $1,000,000 to $2,000,000. The minimum loan for the Stated Income program is $50,000.There are many reasons to choose the Stated Non Conforming Commercial Real Estate Financing program. None of those reasons are because they offer better rates or terms than a conforming loan. Therefore, check with your conforming lender before choosing this program. If you work with a mortgage broker, they should know right off if you would qualify for the conforming program.

Payday loans have been around for a while, and are still a popular option amongst millions of people who need to access emergency cash. If you spend time watching television, or browsing the internet, you will no doubt see many adverts from Payday loan companies, encouraging you to borrow from them. So, regardless of which company you choose to do business with, and whatever the press and media continue to say, there is little doubt that Payday loans are a significant and real financial credit option for many households today.According to recently published figures, more than 2 million working families turn to a short term payday loan when they are short of cash, or having a financial emergency.Most people are aware that Payday loans are not the best option if they have long term debt problems, or are struggling with extremely low income. In these extreme financial situations, Payday loans are not recommended. Certainly, good lenders will always advise borrowers to think carefully about their own financial situation, and to consider whether a short term loan is best for them.The majority of borrowers are hard-working, diligent people, who understand how Payday loans work, and appreciate the ability to access funds very quickly, and then repay the loan fully within the few weeks. It seems borrowers prefer this type of short term loan, as opposed to longer term loans which are around for much longer, and can cost just as much money, if not more.Not so long ago, the majority of people simply turned to their bank or building society for help when they needed it. This is something that is happening less. It seems that there has been a fundamental shift in how banks and building societies are regarded these days. Yes they are still used, and they remain a necessity of our everyday lives, but over the last few years, there is no doubt that the inherent trust in banks, and the big financial institutions as all but gone.In a recent survey, customers were asked what they think of banks, and the overwhelming feeling from respondents was that the big banks are there, and we need them, but they should not have a strangle-hold on our lives, or our money.Payday loans offer people a different choice, and another way to deal with things. Whether you choose to go to your bank, or to a Payday lender, there is no doubt, the message here is to consider all your options, and then, when you understand what is available to you, choose the credit option that suits, you, your family, and your own personal financial situation.When you decide to apply for a Payday loan, first calculate how much you can afford to repay. These are short term loans and will need to be repaid in full when you next receive your wage. It is best to use an online calculator to work out how much your loan will cost, and to establish whether you will have enough at your next payday to repay the loan. This is how to successfully use a payday loan, so that it can help you when you need it.It is an excellent way of accessing emergency cash quickly and simply, and then, in a few weeks you can clear the loan completely, and get back to normal. It is this quick and simple approach to borrowing that makes payday loans so popular amongst thousands of people.If you want more information about Payday loans, how they work, and whether this is an option for you, do some research and have a look at different lenders, and then make your decision based upon what you can afford to repay, and when you next receive your wage.