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AS MORTGAGE BANKERS, WE SPECIALIZE IN COMMERCIAL REAL ESTATE LOANS IN ALL 50 STATES!
Contact Bay Portal Companies TODAY. If you are a loan officer, working with our Account Executives can help your borrowers get the most money for the least cost! If you are a CPA, Lawyer, Insurance Agent, Realtor or Networker, you can co-broker fees!
Thank you for looking to us for your low-cost loan. We appreciate your interest in our mortgage company. As a customer-focused lender, our goal is to return all phone calls within 1 hour and provide pre-qualification letters with same day service. We offer both commercial and residential loans from lenders, investors, hard money sources, Wall Street and conduits. We realize that TRUST is hard earned and easily lost!
With more than 600 loan products for financing your home or business, we offer our clients choices in either full-doc or stated income-stated asset programs.
In order to expedite your mortgage loan application, it is imperative that we have the following items to assemble a file that will meet our underwriter’s policies and procedures:
We need 2 years financials on your business, its estimated appraised value, the current loan amount if it is a refi, or its purchase price. We require point of contact and financial information on the owners as well as annual revenue and expenses.
Depending on whether or not this is a full-doc loan, a standard 4506 form maybe required. We ask for bank statements, tax filings and financials for the past 3 years if possible. Minimum of 2 years required. For traditional financing, a credit score of 600 and above is needed if the mid-score is below 600, or turn-around time is less then 30 days, a hard money source can be offered for scores below 600 or closings that require funding in 21 days or less.
If you are interested in a residential home mortgage or investment property, we need a 1003 application filled out, signed and dated as well as your written permission to pull a tri-merge credit report, along with a loan submission sheet in order to secure a pre-approval letter. This all can be done in a timely manner if we have our borrower(s) cooperation and the documentation listed herein.
Thank you once again for looking Bay Portal Companies, Inc. for the low-cost loan you deserve!
All the best,
Bruce Cobbeldick, sales director
Rick Newbrough, VP
Ken Tonegato, GM
Commercial Real Estate AND an FDIC Direct Lender!
CALL 440-808-8926 TODAY!Needing a SBA Business or Commercial Loan can be a source of anxiety, frustration -- and also a huge sense of accomplishment. Get the facts and help you need. We are experienced and savvy commercial bankers, with a team of processors and underwriters who understand borrowers and co-brokers' needs! You didn't pick the house or business that was best for someone else, you picked the one that's right for you! Trust our professionals to find the mortgage loan that best fits your needs, too. "Less paperwork and more personal attention" means you enter a frustration-free zone from application to decision. Getting the right mortgage loan is like getting the keys to your new house! We can help you get there.
HERE ARE THE DOCS NEEDED FOR COMMERCIAL / SBA:
Here is what you need to submit your scenario if you are a co-broker or a borrower...
***Form 1003 - FNMA loan application
- Tri-Merge Credit Report - ALL THREE BUREAUS
- Certification and Authorization Form
- Bio/Resume reflecting investor experience / industry experience
- Environmental disclosure
- Copy of current rent roll - copy of leases
- Copy of most recent title insurance policy
- Copy of purchase agreement (where applicable)
- Copy of hazzard insurance policy
- Copy of survey
- .JPEG images of property/land/buildings (compilation of exterior and interior)
- Copy of most recent real estate tax bill
- Executive Summary stating what does this scenario make good strategic sense to pursue
- Personal and Business Financial Statements
- Check for $350 for File Handling Fees and $2,000 Commitment Fee(both charnged only after RATE/TERMS/FEES accepted by borrower, as once rate/terms/fees are agreed to, we have a contract to deliver our services, and we are paid on the premise that the appraisal, ability to re-pay loan, assets and D.S.R. are sufficient, but we cannot offer Letters Of Intent - those must come from Underwriters upon criteria being met. Due to the volume of work and closing times with commercial, we must charge fees as we cannot work for free. Nor do we wish to be leveraged once we offer terms that a borrower agrees to. If we identify a rate and terms our client agrees with, we have done our role and earned our fees. Funding is based on providing the needed documents and criteria that underwriter requires. Our fees are subtracted from borrower's closing costs upon the loan FUNDING, except for the $350 documentation handling fees)
Click the Green Link to Apply!
Fill out our 5-minute EZ Loan Application for PRE-APPROVAL!
HERE ARE THE DOCS NEEDED FOR RESIDENTIAL APPS:
Name and address of your employer(s) and copies of your two most recent pay stubs.
- Copies of your W-2 forms for the past TWO years.
- If you have income in addition to your salary, and you wish to have it considered, have copies of your federal tax returns for the past two years.
- If you are self-employed, have copies of your federal tax returns for the past two years, and copies of your company's year-to-date profit & loss statement, along with a balance sheet prepared and signed by an accountant.
- Name and address of any financial institution(s) where you have accounts, and copies of your three most recent statements.
- If you already own property, have the name and address of any institution(s) that holds your mortgage(s) on that property, and copies of your recent statements.
- A signed copy of your deposit receipt or purchase agreement for your new home.
- An estimate of your outstanding debt, along with account numbers for your credit cards, outstanding loans, mortgages and bank accounts.
- Any other information that might give a clear picture of your financial situation.
For F-A-S-T Fundings, Call 440.808.8926
Get the low-cost loan you deserve! Fax us your best deal. We'll beat it!
Simply fax us your Good Faith Estimate to 440.250.8889 to SAVE $$$!
Fill out our 5-minute EZ Loan Application for PRE-APPROVAL!
Need a SBA, Business, Commercial, Land or Farm Loan? CLICK HERE!
CALL (440) 808-8926 and get the low-cost loan you deserve!
We Truly Value Our Relationships With Our Co-brokers, Clients and Underwriters!
Tired Of Bait And Switch Tactics, Lost Referrals, Forgotten Finders Fees or Hype?
We always maintain our conservative ideals and work solely for those with the highest integrity and noblest of intentions. Success without integrity is meaningless! While we will be unrelentingly aggressive in ensuring your loan' success we will do so with optimism, integrity, and reverence. We offer our clients straight talk and results!
Thank you for choosing us as your mortgage planners! My name is Bruce Cobbeldick.I would like to encourage you to look to myself, or my associates, Ken Tonegato, or Rick Newbrough for your lending solutions! We are veteran mortgage lending professionals who are committed to serving you in the best, most comprehensive way possible.
Our business experience includes being business owners, investors and property managers, so rest assured we approach every scenario from the angle of wanting to eliminate hassles and speed up TIME TO VALUE for our customers, borrowers, realtors and investors! We fund our loans F-A-S-T.
And we offer everything from A Paper Full Doc to Reverse Mortgages and from Interest Only Residential Loans to Commercial Real Estate Mortgages.
Ask us about our Fax-Back Loan Comparison Service and our Commercial Real Estate Rebates that refund your EPA or your appraisal fees!
For over five years I have been providing borrowers with a level of service that has exceeded the competition in every way. I offer energy, commitment and a degree of experience that you can find nowhere else. For example:
- I offer all of my clients a multitude of program options that let borrowers feel involved in every step of the mortgage lending process.
- I conscientiously compare and contrast Lender’s rates and programs everyday to assure the best product for my clients.
- I provide credit counseling classes for first time home buyers. It is important to understand credit reports and how to solve the many issues that can often cause delays in the home buying process.
- I am a tireless advocate for my clients, working day and night to assure them the best rate for their personal circumstances. Just read what past clients have to say: Testimonials
We are proud to be members of the Lake Erie Landlords Association Vendor Board and NARI, PRO Remodelers and CABOR.
We work with the Home Builder's Association and a variety of developers, financial planners, CPAs and realtors in order to help our Value Web better meet our customers' objectives for getting the kind of low cost loan and service they expect and demand!
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LOAN OFFICERS: EMAIL US FOR YOUR BROKER PACKET
CPA's, ATTORNEYS, INSURANCE AGENTS AND REALTORS:
EMAIL OUR ACCOUNT EXECUTIVES TO GET A CO-BROKER KIT!
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