Private Commercial Mortgage Options
Why consider using a non-bank mortgage instead of a traditional bank for your next purchase or refinance of a commercial property?
Private commercial mortgages provide business owners and investors with more flexibility and features that are not available from a traditional bank. While interest rates can be a little higher (but not always) the benefits are often worth the additional cost. Key features include:
- 30-year terms and amortization (no balloon payment)
- Stated Income and bank statement programs available (no tax returns required)
- Faster closings
- Unrestricted cash-out
- Higher loan to value ratios
- More flexible underwriting guidelines.
If you're considering the purchase or refinance of a commercial or investment property, it might be worth looking into whether a private commercial mortgage is right for you.