COMMERCIAL MORTGAGE FINANCING
December 17, 2018 | Posted by: Dennis Street
Applying for a commercial mortgage loan is simple; getting approved is the tough part. Your financing requires a positive cash flow, credit rating, and proof that your existing business is stable, and a positive debt/income ratio, which demonstrates that there's enough cash available to cover your monthly payments. Standard commercial mortgage loan requirements include personal financial statements with a list of personal assets, personal and/or business tax returns for the past few years, and details about any collateral available to secure the loan.
If you have less than perfect credit or limited collateral or cash on hand, there are non-traditional commercial lenders such as private lenders that can help even when major lenders turn down your loan. There are also private equity firms and wealthy individual investors that are sometimes willing to lend money in more risky situations.
Obtaining commercial financing is often unknown territory from providing the necessary documentation, to the Appraisal process, to the time it takes to close the loan.
We make it all possible and take the guess work out of the application process. Financing is available for Purchases, Refinancing, Expansion and Debt Consolidations on many property types and Interest rates will vary based on Financial Package.
COMMERCIAL PROPERTY TYPES: - Apartment Buildings - Multi-Unit residential 4plex and higher.- Shopping Centers & Malls - Commercial Buildings - Hotels and Motels - Office Buildings - Medical Buildings - Retirement Homes - Nursing Homes - Industrial Buildings - Commercial Sites - Store Front and Apartment - Mixed Use Properties - Commercial Condos- Hospitality
What’s needed to get you started? CALL ME: 905-767-2242