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Taking on Commercial Mortgages

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driftless
Valued Contributor

Taking on Commercial Mortgages

Greetings:

 

I am past my rebuild and have over the last couple of years stacked my card deck the way I want albeit with a short AoAA.   I have a mortgage from slightly over a year ago which was then the lowest rate - 3.75%.  FICO 8 ~ 775 - 805. 

 

So here is my question:  I started a not for profit company which will be purchasing apartment buildings and multi-use buildings to convert to house the homeless.  We are raising funds to buy and run the buildings but the mortgage banker wants a personal guarantor, which is me.  The mortgage banker, and it is a banker, has been giving me pre-approval letters to negotiate contracts.  My wife and I also want to purchase one or more office buildings.  So, what happens when 1 - 3 commercial HP's and mortgages hit within 3+ months of each other?

 

- Driftless

CSR | Amex Platinum | EDP | QS (2)
Amex Blue Business Plus
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