Ask the right questions.
Find out from your banker what the bank looks for to qualify a loan. “You got things like certain debt service coverage, like a general number, and having a debt service number of 1.25. Well, how do you calculate that debt services coverage and what does that mean from my income perspective?â€
Other things to determine: what’s your debt worth number? What does that look like? What type of collateral are you going to need from that bank?  “Do that research before you walk in, so that when you walk in, you’re coming in with those things already answered. By understanding it, it helps you prepare a little bit and allows you to go in when the time is right,†says Wilson.