Do banks give pre-approvals for commercial mortgages?

Question

I have reached out to a few banks about commercial mortgages for pre-approval prior to jumping into a BRRRR. I have been told that they don’t do pre-approvals because the loans are based mostly off the deal not the person since the property is will be held in an LLC. Has anyone had experience getting pre-approval on a commercial mortgage?

Steve Morris · Answer

Well, if you're looking at comm income-producing property, hard to do a DCR without some operating numbers on the property.

Since each deal is unique, tough to generate a catch-all pre-approval.

Do banks give pre-approvals for commercial mortgages?

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