Commercial Mortgage Loan
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As a business or company, you will get to a point where obtaining your own property or updating the one you already have is going to be crucial for your future. However, this is easier said than done considering how expensive a commercial property is but it is not impossible with the right commercial mortgage loan.
After all, indeed, a lot of capital is required but where you obtain it is what really matters, and this applies either if you are a business trying to acquire a new property or a real estate investor interested in commercial properties instead of residential ones. The first option that comes to mind in order to obtain the funds is investing your savings and get a property that adjusts to it without leaving you without enough money for other expenses.
In Tampa, Florida, many people still rely on traditional lenders like banks and similar institutions, but the main issue with any of them lies in having to meet a large list of requirements that tend to be more than what most businesses and real estate investors can afford. Also, the conditions for the loan are not as good as you would expect and you usually end up paying a lot in interest rates and you still have to give your property as collateral When it comes to commercial mortgage loans in specific, you will definitely give the property as collateral but this can bring many benefits when negotiating the terms for repayment.
Therefore, the key is finding a reliable and flexible lender, which is why many investors and businesses overall consider private lenders more than traditional ones. At Commercial Real Estate Loan Pros of Tampa, we offer great deals for this type of credit and you will be able to apply without having to go over dozens of requirements nor expecting the worst in the final contract and agreement.
Benefits of requesting commercial mortgage loans with us
To understand why you should definitely consider us before other traditional or private lenders, you have to know that the usual credits you can access from them will come with these conditions:
- Between 5%-10% in interest rates.
- 10 years for repaying the loan.
- Interest rates are not always fixed.
- You need to comply with many requirements and have a high credit score before even applying for the loan.
- You are usually limited to a specific amount of money when requesting credit.
Banks, for example, are not the worst lenders and many of them in Florida and throughout the country are actually great with their conditions. However, those are very few and not open for everyone either. Instead, when you choose to request a commercial mortgage loan with us at Commercial Real Estate Loan Pros of Tampa, yes, you still have to use the property as collateral but we can also provide options based on your creditworthiness, which opens two alternatives based on your needs. With this in mind, our terms and conditions are always better than regular lenders:
- Our interest rates are fixed and up to 7% most of the time.
- We offer 20+ years for the loan term.
- Requirements for the application are not many, only your credit score, financial history, and let us know the details about the property you will acquire either for your business or real estate investment—you can also rely on us for updates and other commercial needs.
- We do not cover 100% of the value of the property, but we go up to 90% in certain cases.
We are flexible and it is something we are very proud of since we get the chance to open doors and opportunities for businesses, commercial investors, and anyone in need of a hand in this field. Therefore, feel free to apply for a loan, ask us all your questions, or let our team clear your doubts before diving in.
There are so many areas or regions where we offer these services with most of them being cities.
However, if you need any of these services, you need to contact us. The list below comprises the areas where we offer these services.