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Commercial mortgages and real estate loan types
There is a wide variety of commercial mortgages available for your business. To help you pick the best option we have listed options available to you so you can make an informed decision. We invite you to search our business capital search engine for FREE to find access to capital.
Commercial mortgages can be used for the following: Shopping centers, industrial buildings, office buildings golf courses, resorts, hotels, parking garages, car washes construction loans, ground leases, seconds, wraparounds, etc.
Fixed Rate Commercial Mortgage
Fixed rate commercial mortgage products are mortgages that have a fixed interest rate and payment for the full term of the loan. These loans make it easier to budget, especially over the long term, and offer stability across an ever-fluctuating market.
Typical properties include: Multi-family, anchored, unanchored retail, full and limited service hotels, offices, light-industrial, self-storage, and senior housing.
Loan to Value: Subject to underwriting criteria, generally up to 80% LTV.
Additional features such as: Prepayment, assumption, liability and amortization will be thoroughly explained once you've contacted a lending representative from your free matched list of funding sources.
Construction loan with take-out refers to short-term financing of real estate construction followed by long term financing, called a "take out" loan. This "take out" loan is issued upon completion of improvements. Construction loans normally work together with take-out loans.
For example:
1. The land developer gets a construction loan to build a cluster of homes.
2. When all the homes are ready to sell, a buyer gets a take-out loan from a lender to purchase one of the new homes.
3. The builder uses part or all of the money from the sale towards paying off the construction loan.
The disbursement of the take out loan is contingent upon completion of construction and, in most instances, needs to be applied toward the preceding construction loan. There are funding sources in our directory that provide this type of interim financing.
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