Commercial Mortgages, as you might assume, differ from residential mortgages primarily because they are used to finance commercial properties. The volume of commercial mortgages has been constantly on the rise over the last few years. When applying for a commercial mortgage the credit history of the business and directors are taken into consideration.
Our commercial loans can offer either fixed or adjustable rates just like a residential mortgage and are offered in all 50 states. The term of the loan can range from 2-30 years depending on your circumstance. Often a commercial real-estate loan serves as a bridge loan that lasts for two to three years. For example, if a shopping complex was being built this allows time for the business to complete the project, find occupants, and create a steady cash flow from rent before re-financing into a 30 yr fixed loan.
Second mortgages are available on commercial properties just the same as they are on residential. If you need a second mortgage to help pay for new equipment, upgrades, or just another investment, this could be the perfect option for you.
