Today we will talk about the Coronavirus and its impact on the Lending Institutions. Unfortunately over a hundred thousand people have died within four months and the banking institutions are really nervous. 40 million people are unemployed, so this makes the banks really apprehensive. The Banks main concern is how will the borrower pay back the funds.

Many Lenders before the coronavirus would Finance 100% loan to value on fix and flips. Today however the climate has changed. Lenders are requesting 20% to 25% down. Not including Closing Cost. However We Say Yes Commercial Loans have access to Lenders that offer !00% loan to value right now.

Lending right now is critical. Lenders are seeing a spike in applications after rate cuts. What estimates show is more than 11 million candidates as of early March applied for a Loan. As a Financial Institution the response to these issues are very important to future customers. So now Lenders are opening their doors accepting applications and we are the Main Broker.

We can only pray that the coronavirus pandemic will end soon. Although according to the most recent polls, many suspect that it will end by January,2021. However the spike continues. But until then, We Say Yes Commercial Loans will continue to keep lending funds for the purpose of Purchasing or Refinancing your Investment Properties.

We Thank You for staying tuned to our blog. Next week we will be discussing Multi-family Financing. Thank you, Stay safe and God Bless.