Medical Office Building Loans
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Depending on the purpose of the property you want to acquire either as a real estate investor, individual, or company, you will have opportunities for different loans that are more suitable for the investment you are about to do. For example, medical office building loans are perfect for the use the name suggests.
This is why you need to determine two main factors:
- The type of property you will purchase.
- And its main purpose or use in order to find the best loan option.
In the case of being a company in the medical field and you need a new place to use as an office, you can go for medical office building loans in order to finally have enough space, your own premise, and grow. On the other hand, if you are a real estate investor, you can find the purchase suitable for two goals: renting the units as medical offices to have a passive income or just resell the property later on as usual.
However, keep in mind that the terms of a medical office building loan will change by the simple fact of being a real estate investor with reselling or renting thoughts, or a future owner-occupant of the building. With this in mind, you can start looking for the right lender to access the loan which can take additional time since this type is not often offered by banks or regular institutions nor they are it the best option.
Private lenders are companies like us, Commercial Real Estate Loan Pros of Tampa, are more suitable, offer better terms and conditions, and you can request the loan for renovations as well, not only purchase. Our company has been offering these credits for several years and we allow both small or large buildings to be renovated or acquired with the funds of the loan.
What are the requirements and conditions for office building loans?
Every lender has its own requirements, terms, and conditions. Thus, you will notice variations every time you go over a new alternative. However, there are standard ones like credit score, the financial history of your business or personal one—sometimes both—, and basic documentation as well as letting the lender know the final goal with the building.
In our case, we do not request more than this except for details about your project in case it is a renovation that will take place. This is why many people and medical companies in Tampa choose us as their lenders: we are flexible, there is not a large list of requirements, and we are equally fair with our terms and conditions since they usually follow this standard:
- Loan size starting at $500,000.
- Refinancing, acquisition, renovation, and other purposes can be covered with the medical office building loans.
- 10+ years when it comes to the loan term.
- Amortization from 5 to 30 years.
- Fixed and low-interest rates.
Requesting a loan is simple when we are the possible lenders, and you will yourself comfortable thanks to our team besides the previous aspects. Therefore, do not hesitate to contact us at Commercial Real Estate Loan Pros of Tampa and let us know your plans for a medical office building.
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.