Commercial Mortgages
A mortgage loan to purchase or refinance a building used for business purposes. This could include warehouses, office buildings, stores or multi-family properties (5 or more families). They are monthly payment loans and interest may be either fixed or variable.

Features:
This mortgage loan is intended for properties to be used for business purposes. It is available in payout terms up to 25 years. Loans may be fixed rate, adjustable or balloon. Commercial mortgages require a 25% downpayment or equivalent equity in the subject property. Additional liens may be taken on furniture, fixtures, rent or leases. Personal guarantees of borrower or company principals are required.

Rates:
Rates and fees are negotiable. Borrowers are responsible for all third party costs, including appraisal and bank’s review attorney. Points may be charged on the loan (a point is a premium or fee equal to 1% of the amount of the loan).