Commercial Loans
Commercial loans are designed for properties that do not qualify as residential such as 5+ unit multi-family buildings, storage facilities, schools, retail offices, industrial buildings and many more. These loans may be used to purchase an existing building, build a new one, refinance or cash out the equity in exisiting buildings.
LOAN PURPOSE: Investment.
BORROWER TYPE: Individual or Entity.
FICO: 650+
QUALIFICATIONS: Minimum 1 year in business under existing ownership.
AMORTIZATION: 15YR-30YR
TERM: 5YR ARM-30YR Fixed
INTEREST RATE: Call for quote.
LOAN SIZE:100k-2MM
FOREIGN NATIONS ACEPTED: Yes
PROPERTY TYPE: Multi-Family, mixed use, retail, warehouse, self Storage, office, mobile home park, restaurants & bars, daycare centers, if not on this list call us to see if your property qualifies!
FAQ's on Commercial Loans
What is the difference beteen a commercial loan and a business loan?
While the terms commercial loan and business loan sometimes get used interchangeably to talk about any business loan, commercial loans usually refer to commercial real estate loans specifically.
What are commercial loans used for?
Commercial loans are used for business real estate transactions. That might cover more than you think, though.
For example, one of the more common uses of commercial loans is buying buildings. But there are lots of things that fall under that umbrella:
- Brick-and-mortar storefront for your retail store
- Office/practice space for your business
- Warehouse or manufacturing plant
- Office/practice space you rent out to other businesses
- Residential buildings you rent out to families and individuals
How do commercial loans compare to other business loans?
Commercial loans usually come with longer loan terms, giving you plenty of time to repay that big loan. Other business loans have terms between a few weeks and a few years, but many commercial mortgages give you up to 30 years to repay your loan. Part of the reason that commercial loans have lower rates is that they’re usually secured with collateral. The collateral lowers the risk for the lender and lowers your rate by extension. While some business loans are secured, there are many unsecured business loans out there.
832 301 6541
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Figure: 7 TAC § 80.200(b) CONSUMER WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.
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