Your Easiest Way To Get Commercial Areas
Commercial Real Estate loans are typically easier to get than residential loans, as the financed property often provides collateral that is greater in value than a typical residential mortgage. The loan rates can vary depending on how the borrower wishes to pay for its loan. Borrowers may choose a variable rate, which offers lower interest rates but increases with fluctuations in economic conditions, or fixed-rate financing with fixed payments over a set period of time.
What you need to know when getting a commercial real estate loan:
* Lenders can loan up to 90% of the property's appraised value, but usually loan up to 75%.
* Property values have soared in the past few years, especially in major cities. As a result, real estate loans are getting more difficult to come by.
* Many lenders will finance commercial mortgages through private mortgage insurance ( PMI ) - some lenders have specific guidelines about whether or not you can include PMI when buying a new home.
There are loan payment schedules that can help you, such as:
- Fixed-rate loans typically go through one of the three payment schedules used for residential mortgages. The options are monthly, bi-weekly, or semiannual.
- The bi-weekly payment schedule is the most common for a commercial property, especially if the borrower plans to use cash from the escrow account to pay down some or all of its loan balance each month.
- A commercial mortgage can also be paid annually, semiannually, or quarterly payments.
A borrower can pay off a loan more quickly by making additional payments on it.
The payment schedule you choose should fit your financial situation and the length of time you plan to stay on the property.
The Best Real Estate Loan Rates
Getting a loan can be a little scary or a lot overwhelming at times, but we're here to help you take that fear or overwhelm off your shoulders. We're the easiest way to find your loan needs and make sure they get met with our highly qualified team of professionals just like you.
Commercial lenders give you a quality loan that will help you with that investment or business venture of yours. With our team, you'll have quick and efficient service that will get it done in no time.
We offer many different commercial finance solutions to fit your needs, including:
Commercial Real Estate Loans
Commercial Construction Loans
Bond Financing for growth and expansion projects.
Business Loans and Credit Lines for new start-ups, expansion, or purchases. We can also handle business lines of credit requests: loan documentation review and approval process. We can also offer you a more aggressive loan approval process for a better price! We will work with you to review your current situation to see if we can make your loan happen faster.
With commercial real estate loans, you can get your loan secured or non-secured, depending on your needs. Depending on the type of real estate secured loan you are looking for, our commercial real estate team can give you a custom rate that will fit your current situation.
