Co-signing Loans for Commercial Property

1 Reply

Hi there. I have a *friend* who is in a contract to purchase a $500k. This friend has 20% downpayment. At last minute the bank says “sorry but due to coronavirus we are not looking to lend to me right now, but if I bring in a co-signer they will look at their credit and will potentially consider doing the loan. 

the property is 100% rented and brings in $6K  

My question is... If no other money is needed. Just need the financial backing to get loan approval

Is there a company out there that would consider co-signing if they don’t have to bring any money to table?

This happens all the time for experienced investors but for a newbie it will almost never happen out of direct friends and family.  Who wants to risk their guarantee on the loan to a new investor?  Better bet would be to find a parter to go in on it with you, put up some cash and also sign on the loan.

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