Commercial lenders have specific types of properties that they will provide loans on. Commercial lenders can provide loans for retail development and office buildings. Commercial lenders have flexible criteria that can fit many different situations. Please call us for a free consultation on your development project.
Commercial lenders base their lending decision on a number of factors. The loan to value ratio for a project should not exceed 70%. The completed project must have a positive cash flow or have a high re-sale value.
Most commercial mortgages and loans are fairly complicated. The loans process can take months to complete and involve many lenders. There will be a high level of due diligence by the lenders. Lenders will also require copies of all documents related to this project.
Private commercial lenders can provide loans for first, second and even third mortgages. Commercial lenders can be very competitive on interest rates and fees. As mortgage brokers we can quickly give you an idea of what the present interest rates are. To determine what type of mortgage best fits your needs we recommend that you consult with a mortgage broker.
Private lenders want to give loans to people who can prove that they will pay back the loan on time. Private lenders are much more flexible in their lending criteria. They understand that there can be many reasons for a project’s delay. Commercial lender can also be of great assistance in the management and marketing of your project.
Trying to find the mortgage needed for your project can be a very stressful experience. Finding a commercial lender can be very time consuming. When you call our mortgage team we can tell you within minutes if your project has the potential to be funded. We can tell you what our lender requirements are and what documents are required.